As 2022 attracts nearer, some cryptocurrency funding specialists are uncertain about whether or not Bitcoin (BTC) has sufficient time to hit $100,000 in 2021.

Following a major flash crash in the cryptocurrency market, Bitcoin is unlikely to interrupt new all-time highs within the subsequent three weeks and go all the best way as much as $100,000, in accordance with Bitwise chief funding officer Matt Hougan.


“$100,000 by the tip of the yr is a tough prediction to make […] I feel $100,000 could possibly be in goal in 2022 however this yr, I’m not so certain,” Hougan said in a Monday interview.

He famous {that a} potential cryptocurrency rally in 2022 will likely be largely because of rising institutional help. “I feel as we glance into 2022, we nonetheless have these basic drivers, the establishments we communicate to day by day at Bitwise,” Hougan mentioned, including that many establishments are nonetheless transferring into the marketplace for the primary time.

The CIO additionally predicted that 2022 will see an “explosion of exercise constructed on Ethereum” and layer-one options, or these aiming to enhance the bottom protocol itself to scale the general system relatively than creating a unique protocol.

“Buyers are going to be Ethereum, Solana, or Polygon. Buyers are beginning to understand there’s extra to crypto than simply Bitcoin. If there’s one larger story for subsequent yr, it’s going to be every little thing else: crypto as DeFi, NFTs, Web3, or metaverse,” Hougan predicted.

Whereas Hougan famous the rising potential of altcoins — or cash apart from Bitcoin — some distinguished figures within the crypto group are nonetheless sticking with BTC.

Bobby Lee, founder and CEO of crypto {hardware} pockets Ballet, argued on Monday that Bitcoin is “extra useful” than altcoins as a result of i just isn’t backed by “any form of venture, or a promise that may fail.”

The crypto group has been watching Bitcoin’s worth carefully this yr, with notable figures within the business predicting BTC will ha hit $100,000 by the tip of 2021, together with Customary Chartered’s cryptocurrency research unit, stock-to-flow model creator PlanB, Morgan Creek Digital Property co-founder Anthony Pompliano, SkyBridge Capital CEO Anthony Scaramucci and others.

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Others within the crypto group have taken a extra skeptical view.

On the time of writing, Bitcoin is buying and selling at $51,290, notably recovering after dropping under $47,000 on Saturday, in accordance with data from CoinGecko. After beginning 2021 at round $30,000, Bitcoin hit its all-time high above $67,000 in mid-November.

Bitcoin one-year worth chart. Supply: CoinGecko