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As 2022 approaches, some cryptocurrency investment experts doubt that Bitcoin (BTC) will have enough time to hit $ 100,000 in 2021.

Following a major lightning crash in the cryptocurrency market, Bitcoin is unlikely to hit new all-time highs in the next three weeks and hit $ 100,000, according to Bitwise Chief Investment Officer Matt Hougan .

“$ 100,000 by the end of the year is a difficult prediction to make […] I think $ 100,000 could be targeted in 2022, but this year I’m not so sure, ”Hougan said in an interview Monday.

He noted that a potential cryptocurrency rally in 2022 will be in large part thanks to growing institutional support. “I think looking back at 2022, we still have these fundamental drivers, the institutions we talk to every day at Bitwise,” Hougan said, adding that many institutions are still entering the market for the first time.

The CIO also predicted that 2022 will see an “explosion of activity based on Ethereum” and layer one solutions, or those aimed at improving the base protocol itself to evolve the entire system rather than creating one. different protocol.

“Investors will turn to Ethereum, Solana or Polygon. Investors are starting to realize that crypto isn’t just about Bitcoin. If there is a bigger story for next year, it will be everything else: crypto like DeFi, NFT, Web3 or metaverse, ”Hougan predicted.

While Hougan noted the growing potential of altcoins – or coins other than Bitcoin – some prominent figures in the crypto community remain loyal to BTC.

Bobby Lee, founder and CEO of the Ballet crypto hardware wallet, argued on Monday that Bitcoin is “more valuable” than altcoins because I am not backed by “any sort of project or promise that can fail.”

The crypto community has been watching Bitcoin’s price closely this year, with notable industry figures predicting that BTC will hit $ 100,000 by the end of 2021, including the cryptocurrency research unit of Standard Chartered, the creator of the PlanB stock-to-flow model, Morgan Creek Digital Assets. co-founder Anthony Pompliano, CEO of SkyBridge Capital Anthony Scaramucci and others.

Related: Bitcoin to hit $ 250,000 in January 2022 but will ‘invalidate’ S2FX BTC price model – New prediction

Other members of the crypto community have taken a more skeptical view.

At the time of writing, Bitcoin is trading at $ 51,290, notably recovering after falling below $ 47,000 on Saturday, according to data from CoinGecko. After starting 2021 at around $ 30,000, Bitcoin hit an all-time high above $ 67,000 in mid-November.

One-year Bitcoin price chart. Source: CoinGecko