Bitwise CIO isn’t sure if Bitcoin will hit $ 100,000 in 2021

Many crypto folks have predicted that Bitcoin will crack $ 100,000 in 2021, but BTC has yet to climb above $ 68,000.

As 2022 approaches, some crypto investment experts now doubt whether Bitcoin (BTC) will have enough time to hit $ 100,000 by 2021.

After a flash crash in the crypto market, Bitcoin is unlikely to hit a new all-time high and hit $ 100,000 in the next three weeks, according to Bitwise Chief Investment Officer Matt Hougan.

“$ 100,000 at the end of the year is a difficult prediction […] I think $ 100,000 could hit the target by 2022, but this year I’m not so sure, “Hougan said in a December interview.

He pointed out that a potential crypto rally in 2022 will be largely driven by growing institutional support. “I think when we look at 2022 we still have these underlying dynamics, the organizations we talk to every day at Bitwise,” Hougan said, adding that more companies are still entering the market for the first time.

The CIO also predicts that 2022 will see “an explosion of Ethereum-based activity” and layer-one solutions, or those aimed at improving the underlying protocol itself to scale the system master rather than another protocol to create.

“Investors will consider Ethereum, Solana or Polygon. Investors are beginning to realize that cryptocurrencies are more than just bitcoin. If there is a bigger story for next year, it will be everything else: cryptocurrencies like DeFi, NFTs, Net3 or the Metaverse, ”predicted Hougan.

While Hougan noted the growing potential of altcoins – or currencies other than Bitcoin – a number of prominent figures in the crypto community are still clinging to BTC.

Bobby Lee, founder and CEO of the crypto hardware wallet Ballet, argued on December 6th that bitcoin is “more valuable” than altcoins because bitcoin is not supported by “any kind of project or promise can fail”.

The crypto community has been keeping a close eye on the price of Bitcoin this year. Notable industry figures predict BTC will hit $ 100,000 by the end of 2021, including Common Chartered’s crypto research unit, creator of the PlanB stock model, Morgan Creek Electronic Assets co-founder Anthony Pompliano, SkyBridge Money CEO Anthony Scaramucci, and others.

Related: Bitcoin hits $ 250,000 in January 2022, but “invalid” the S2Forex BTC pricing model – New Prediction

Others in the crypto community are more skeptical.

In 2050:

“Another change for #Bitcoin and then moon time! 100k EOY “

Alright let me go to sleep pic.twitter.com/F9RoBF8qdo

– Money for lunch (@LunchMoneyMitch) November 10, 2021

At the time of writing, Bitcoin is trading at $ 51,290 and is specifically rebounding from a drop below $ 47,000 on December 4th, according to CoinGecko. After starting at around $ 30,000 in 2021, Bitcoin hit an all-time high of over $ 67,000 in mid-November.