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Bitcoin price sets new records, what's next?

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(Kitco News) - Monday, bitcoin has surpassed its previous all-time high of $19,783 set in December, 2017, when it traded as high as $19,786.24. according to data from CoinDesk.

The new all-time high means that bitcoin has so far risen 177% year-to-date.

Predictions for 2021 price points vary. Hong Fang, CEO of OKCoin, has called for $100,000 by next year, should bitcoin catch up to even 25% of gold's global market capitalization of $9 trillion.

Other forecasts have called for lower price ranges. Bill Noble, chief technical analyst at Token Metrics, sees bitcoin sustaining new record highs next year but hover around the $25,000 to $30,000 range. He adds that altcoins will likely outperform.

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