{"id":15068,"date":"2021-12-07T20:54:18","date_gmt":"2021-12-07T20:54:18","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/bitwise-cio-says-100k-bitcoin-a-difficult-prediction-to-make-calls-ethereum-the-asset-of-the-year\/"},"modified":"2021-12-07T20:54:18","modified_gmt":"2021-12-07T20:54:18","slug":"bitwise-cio-says-100k-bitcoin-a-difficult-prediction-to-make-calls-ethereum-the-asset-of-the-year","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/bitwise-cio-says-100k-bitcoin-a-difficult-prediction-to-make-calls-ethereum-the-asset-of-the-year\/","title":{"rendered":"Bitwise CIO Says $100K Bitcoin a Difficult Prediction to Make, Calls Ethereum the \u2018Asset of the Year\u2019"},"content":{"rendered":"

While there\u2019s been an awful lot of calls for bitcoin to reach six-digits in value in 2021, as the end of the year draws closer, it doesn\u2019t seem like $100K per bitcoin will happen. Bitwise Asset Management\u2019s chief investment officer Matt Hougan told the press on Monday that \u201c$100,000 by the end of the year is a difficult prediction to make.\u201d<\/strong><\/p>\n

$100K Bitcoin Prices May Be Unattainable in 2021 \u2014<\/span> Bitwise Exec Says Next Year \u2018Investors Are Going to Be Looking at Ethereum\u2019<\/h2>\n

For a good portion of the year, many bitcoin advocates, experts, luminaries, and analysts predicted that bitcoin (BTC<\/a>) would surely hit the $100K per unit range in 2021. One of the most popular forecasts<\/a> belongs to Plan B, the creator of the stock-to-flow (S2F) bitcoin price model. Plan B said<\/a> based on the pseudonymous analyst\u2019s \u201cworst case scenario for 2021 (price\/on-chain based)\u201d would be \u201cAug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.\u201d<\/p>\n

However, November\u2019s price call missed and the $135K prediction looks like it will miss as well. Bitcoin would have to double in value over the next 24 days gathering a touch over 96% during that time. Plan B is not the only one that has predicted BTC<\/a> could hit six-digits in USD value by the year\u2019s end. The financial institution Standard Chartered predicted<\/a> at the beginning of September that bitcoin\u2019s value could reach $100K by the end of the year.<\/p>\n

Yahoo Finance contributor, Javier David, said<\/a> on October 21, that \u201csuddenly, a bitcoin move to $100K doesn\u2019t seem so farfetched.\u201d In fact there\u2019s a great number of analysts<\/a> that have said that at some point in the future, bitcoin prices will touch the six-digit zone or $100,000 or more per unit. Speaking with Bloomberg\u2019s Emily Chang, Bitwise Asset Management\u2019s CIO Matt Hougan explains that bitcoin hitting $100K will be difficult in 2021. Hougan further explained that ethereum (ETH<\/a>) was the \u201casset of the year\u201d in 2021.<\/p>\n

\u201cI think as we look into 2022, we still have these fundamental drivers, the institutions we speak to every day at Bitwise,\u201d Hougan explained. \u201c$100,000 by the end of the year is a difficult prediction to make \u2014 I think $100,000 could be in target in 2022 but this year, I\u2019m not so sure,\u201d Hougan remarked.<\/p>\n

Hougan Predicts an \u2018Explosion of Activity Built on Ethereum\u2019<\/h2>\n

As far as the second-largest crypto asset by market capitalization, ethereum (ETH<\/a>), Hougan thinks 2021 was the digital currency\u2019s year. While noting to Bloomberg\u2019s Chang that ethereum was the \u201casset of the year,\u201d Hougan also stressed that there will be an \u201cexplosion of activity built on Ethereum\u201d next year. But investors will be looking at other smart contract blockchain networks as well, the Bitwise CIO said. Hougan added:<\/p>\n

Investors are going to be looking at Ethereum, Solana, or Polygon. Investors are starting to realize there\u2019s more to crypto than just Bitcoin. If there\u2019s one bigger story for next year, it\u2019s going to be everything else: crypto as defi, NFTs, Web3, or metaverse.<\/p>\n

What do you think about the Bitwise CIO\u2019s cryptocurrency predictions? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nNews, $100K, $100K BTC, Bitcoin, Bitcoin (BTC), Bitwise, Bitwise CIO, crypto assets, Cryptocurrencies, DeFi, Digital Currencies, Digital Currency Prices, Emily Chang, ETH, Ethereum, Ethereum (ETH), Forecasts, Matt Hougan, Metaverse, NFTs, Plan B, Polygon, Polygon (MATIC), price prediction, S2F, Solana, Solana (SOL), Web3<\/p>\n","protected":false},"excerpt":{"rendered":"

While there\u2019s been an awful lot of calls for bitcoin to reach six-digits in value in 2021, as the end of the year draws closer, it doesn\u2019t seem like $100K per bitcoin will happen. Bitwise Asset Management\u2019s chief investment officer Matt Hougan told the press on Monday that \u201c$100,000 by the end of the year…<\/p>\n","protected":false},"author":0,"featured_media":15069,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-15068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15068"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=15068"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/15069"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=15068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=15068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=15068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}