It's official, we finally got to the fourth quarter of the year, and that was October 1. We are in the midst of a bull run and everyone knows that the 4th quarter of the year is usually when prices become parabolic during bull runs. There are some very high price forecasts that would excite any of us if they are indeed achieved. One thing is for sure, the end of this year should be exciting and also potentially life changing for many of us!
I usually write about serious topics about bitcoin and how these situations affect BTC and where it is going. But today I'm going to talk about a slightly more fun and frivolous topic; my year-end price predictions. Yes. I'm going to put my flag in the ground and tell you how I think things will play out. Please note that I am not a financial expert or even skilled in chart analysis. I am simply using my knowledge of crypto markets, world events and past performances as an indicator of where I believe. But I could be completely wrong.
Before I begin, I'd like to mention that this year is unlike any other year since I've been in cryptocurrency. There have been many extreme moments of joy or highs, and also extreme durations of negativity or fear. All during a bull run. We've had to contend with more FUD attacks than we've ever been thrown at bitcoins, DeFi, ETH or crypto so far. For some people this FUD shook their confidence, but I was consistent in that these FUD attacks helped to further strengthen my faith in crypto. Remember, there was a real debate in 2017 about whether bitcoin would be able to survive the block wars and the Bitcoin Cash fork. But it survived. Now we've fought against bans from China, a huge drop in mining power, ECG FUD, US crypto regulator FUD, tax FUD, Elon FUD, and the list goes on for what seems like forever. But bitcoin is battling them all, and looks to be on its way to achieving its all-time high price again in the near future. It has become quite strong. All these battles have made bitcoin strong enough to be a potential global reserve asset in the future.
But without further delay, let's get into my predictions for the prices of my favorite coins for the rest of the year.
Chainlink
Chainlink is a coin that I feel a lot of people have overlooked or quite frankly forgotten about lately. It has slid all the way down to #15 in terms of market cap. In fact, it has not done well at all during this bull market. Remember, in the summer of DeFi in 2020, Chainlink exploded to a $20 price. But it has since leveled off, even during the bull run, and sits at about $ 24. Before the bull run, there were youtubers declaring Chainlink was the next airwaves and would get to a price of $ 1000 during the bull run. That is now impossible. However, I see a resurgence for DeFi, especially with the recent ban on cryptocurrencies in China and DeFi growing significantly there. As DeFi flourishes, the chain link grows. By the end of the year, I see the chain reaching a price range of $70-100.
$70-100
Polkadot
Polkadot is something I've been a big fan of for a long time. There's a lot to like about it, especially the 12% interest you can get for it. But a lot of people don't see that big news is on the horizon for Polkadot; and that news is that parachutes will be coming to it soon. Something that pushed Polkadot's brother chain, Kusama, out of the water when it came to this chain. If you're not aware of parachains, this basically allows you to lock a DOT into a coin from the DOT ecosystem that is fighting for one of the parachain slots that are limited. If that coin wins the slot, your DOT will be locked to that protocol for a while, but you will receive or broadcast that protocol. After the locked period expires, your DOT will be returned to you. Simply put, it's like investing in an ICO, but your initial investment is always returned to you. Believe me, this coming in DOT will shift the cost. I expect a DOT price of $ 150 or more by the end of the year.
$150+
Solana
Solana is a protocol I've been going down the rabbit hole recently and quite like. I find it a good hedge for someone who is also invested quite a bit in ethereum. They are similar in a lot of things they are looking to do, except Solana can already do them while ETH is hoping to do them. I have every confidence that ETH will be able to successfully upgrade in the future. If you've been paying attention to the crypto markets over the summer, you'll know that Solana has been pumping a lot! But the question is, has it reached its limits yet and can't go any higher? In my opinion, BTC and ETH are the two blue chips in crypto and Solana has a chance to become number three right now. That said, I think there is still plenty of room to move up. While the chain can continue to add more node validators, this chain has a lot of potential. By the end of the year, I expect a price in the $500-600 range.
$500-600
Ethereum
Ethereum is the chain I find the hardest to try and predict the price on. There are many factors that could come into play; such as if ETH 2.0 can be unified before the end of the year or not. Either way, as long as BTC moves, ETH will move and much faster. Lately, some people have been doubting the future of Ethereum. Usually these people are fans of Cardano, Solana or Avalanche. But I think having these rivals in the market is a great thing for ETH and will help speed up the timeline for ETH. Having competition is always a good thing. It may seem strange to most, but I think Ethereum will reach a price of $10,000 or more before the end of the year.
$10,000+
Bitcoin
It's going to be a very exciting time for bitcoins, and I believe the rush to buy it this fall will be unlike anything we've seen before. There are a lot of outside forces; this is just one of them that would almost instantly declare bitcoin up to $100,000. Some of these would be a US bitcoin ETF, a major state or other countries accepting bitcoin as legal tender, major companies like Amazon/Apple/Google/Microsoft accepting bitcoins, and the list goes on. These are simply outside forces. Remember, without them, bitcoin itself usually does very well in the last months of the year. I believe an ETF will be announced soon that pushes the gas pedal on this bull to the end of the floor and the price will react quickly. I believe bitcoin will reach a price of $ 150,000-200, 000 by the end of the year. Now there are only three months to go and it is time for bitcoins to start rising.
$150,000-200,000
Again, these are just my personal predictions and they could all be completely wrong. But it's really fun to think about what could happen. One thing is for sure; if the bull runs something like this, a lot of people's lives will be changed financially forever.
What about you? What are your price forecasts for the end of the year?