Looking back at the Bitcoin price predictions made by 17 famous crypto community influencers, who has the better skills?

According to BlockBeats, on January 12, Longhash compiled the predictions of crypto analysts for Bitcoin prices in 2020, and compared their predicted prices with the actual prices to see which crypto influencer’s predictions were closest to the real prices. These price predictions came from 17 well-known investors or analysts in the crypto community.

Taking the actual price of Bitcoin on December 31, 2020, $28,841, as the benchmark, all the predictions of crypto analysts included in the comparison were made at least 12 months ago and published online. Considering that some people predicted a range, the highest and lowest ends of their ranges were listed as the prediction results when evaluating. For predictions that indicated that it would be "higher" or "lower" than a specific number, the number above or below was listed as their prediction.

According to the above rules, the predictions that are closest to "basically correct" belong to Alexander Zaidelson, CEO of privacy project Beam, and Danny Scott, CEO of British trading platform CoinCorner. Both of them are very close to the actual final price of Bitcoin, with fluctuations of no more than 5%.

At the time, Zaidelson made an estimate based on “fundamental logic” and the historical boundaries of ATH and ATL, saying: “I think at some point in 2020, Bitcoin could hit an all-time low, or even slightly below it. So I think the low could be $3,000. As things progress and adoption grows, demand for Bitcoin and cryptocurrencies in general will surge, and it’s entirely possible that it could reach all-time highs or higher. So, I would say $30,000.”

Danny Scott, another crypto expert with accurate predictions, is confident that Bitcoin prices will rise in the long term, but finds it “mission impossible” to predict prices in the short term. Therefore, he gave a price range, predicting that Bitcoin may rise to between $12,000 and $28,000.

Other predictions were close enough to the correct price, but given the volatility of Bitcoin, predicting the price of Bitcoin is actually a difficult task. The results show that most of the price predictions for BTC by the end of 2019 or "by 2020" are almost wrong, and "most people are too optimistic."

Of course, the most "optimistic" and least reliable prediction came from John McAfee. He asserted in 2019 that Bitcoin would rise to $1 million per coin in 2020. Of course, in the end, this prediction turned out to be just a marketing gimmick.

Regarding this year's forecast, BlockBeats believes that cryptocurrency insiders are still very optimistic about the market based on previous reports. Bloomberg's commodity strategists conservatively estimate that Bitcoin will exceed $50,000 in 2021, while Citibank even recently boldly predicted that Bitcoin will exceed $300,000 by the end of this year.