Bitcoin jagged its all-time high when the coin went over $68,000 for the first time. The price has jumped below $46,000 with the start of December.

In the world of cryptocurrency, the prices fluctuate violently by the day and even by the minute. Last week, Bitcoin closely hit $59,000 before plummeting beneath $46,000 on Saturday.

Bitcoin Price Predictions

Conventional predictions of Bitcoin forecast that the cryptocurrency will reach $100,000 by 2023.

Here are selected predictions that are ranked from low to high for the next year:

Ian Balina

• Point of View:Bitcoin investor and founder of crypto research and media company Token Metrics
• Prediction: $75,000 by the end of 2021
• Why:Technical data certainly proves $100,000 isn’t out of the question, but Balina told NextAdvisor he prefers to take a more conservative stance.

Matthew Hyland

• Point of View:Technical analysis and blockchain data analyst
• Prediction:$250,000 by January 2022
• Why:Bitcoin crossing the inevitable $100,000 threshold will catalyze a euphoric bull run, Hyland has said on his Twitter account. Hyland cited as evidence the 150% move back in 2017 where Bitcoin rose from $8,000 to $20,000 right after Thanksgiving of that year.

Robert Breedlove

• Point of View:Founder and CEO of the digital assets marketing and consulting firm Parallax Digital
• Prediction: $307,000 by October 2021 (now passed), and $12.5 million by 2031
• Why:Inflationary pressures after COVID-19 will drive interest in cryptocurrency, pushing the value of Bitcoin up higher than previous projections estimated. In an interview earlier this year, Breedlove also pointed to how the last quarter of 2021 is roughly 510 days after an event called “halving,” in which Bitcoin’s algorithm changes the reward for mining transactions on the blockchain. Breedlove said past halving events have been followed by new highs roughly 500 days afterward.