Bitcoin to 10x, ETH to Outperform BTC, & DeFi Unicorns: Crypto Market’s 2021 Prediction
It’s that time of the year, again.
Now that we are at the end of 2020, the crypto community is ready for some predictions.
Already we heard the call for $400k per BTC from Guggenheim. But the crypto market participants have less crazy ones, for now.
Venture Capitalist Tim Draper has called for Bitcoin to “tenX from here by end of 2022 or early 2023.”
This would put the BTC price at about $270k. Draper has long been predicting BTC’s price at $250k and this time he just might be right with a 642% uptrend from March's low, we have already hit a new ATH at $28,200.
Meanwhile, one of the partners of the crypto fund, The Spartan Group, sees BTC hitting $100k next year. He is also positive on a Bitcoin ETF finally getting approval.
But he is more bullish on Ethereum as he predicts ETH surpassing its ATH within the next six months and of course outperform Bitcoin.
Given that ETH is still over 53% away from its ATH, it makes sense. Also, during the 2017 bull run as well, ETH outperformed the world's largest digital asset.
Another crypto-asset he is bullish on is Polkadot (DOT) which again he expects to do better than BTC and join the top 5 ranks. Similarly, he sees the GRT token of The Graph protocol which released its mainnet just this month to also become a Top 30 coin.
However, he is bearish on XRP which he not only expects to fall out of the Top 10 but also gets delisted from Coinbase, ahead of the crypto exchange’s IPO.
When it comes to decentralized finance (DeFi) this is where he sees sparks flying with the TVL exceeding $100 billion in 2021 and a mainstream fintech app with over 100 million users to “start integrating DeFi apps, sparking another major re-rating of DeFi tokens.”
And of course, DeFi blue-chip tokens, UNI, SNX, AAVE, YFI, and COMP to reach market caps of $1 billion.
SUSHI, 1INCH, UMA, REN, MKR, LUNA, CRV, BAL, NXM, and ALPHA are other tokens that have the best shot at becoming the unicorns in the DeFi space.