Bitcoin can hit $ 50,000 this year? While most of the cryptocurrencies are far below their previous highs, but there are new and more recent forecasts coming up for cryptocurrencies. One of these predictions is that Bitcoin can reach $ 50,000 in solar year 2018.
A cryptocurrency portfolio manager with the name of Jeet Singh, told the World Economic Forum in Davos, that the current volatility is completely normal when it comes to the cryptocurrency space. He also stated that it is normal for cryptocurrencies to range from 70% to 80%. This is one of the main reasons why current volatility does not bother him at all.
He compared cryptocurrencies with current companies like Microsoft and Apple. Initially, their titles were also quite volatile. However, as companies develop their business model, stocks have not only increased but also become much more stable.
Bitcoin Price Today
— Salih SARIKAYA (@SalihSarikaya) June 6, 2018
SEE ALSO: Bitcoin Price Predictions 2018: How high is the price of Bitcoin in 2018? Up to $ 1 million or up to $ 100? (Detailed analysis)
However, many investors are currently worried about the high volatility of cryptocurrencies. According to him, however, long-term investors should not be afraid of volatility. Since I am here to stay for a longer period of time, they would have no problem maintaining cryptocurrencies for a longer period of time.
He also added that Bitcoin will reach $ 50,000 this year. If this were to happen, the current price of Bitcoin is around $ 10,000, which would again be increased fivefold.
If the portfolio manager is right or wrong, only time would be able to say it. The truth is that at the moment, many of the investors are worried about putting new money into Bitcoin. Only once they are sure that the volatility will end and Bitcoin resume its uptrend, can you be sure that most investors would prepare to invest in this cryptocurrency.
For now, however, most investors are moving away from the cryptocurrency boom. Many investors are simply holding back their holdings to find out whether cryptocurrencies resume their uptrend. It is still too uncertain for most investors to take a call. On the other hand, institutions are also increasing their presence in the pace of cryptocurrencies, which will certainly benefit the cryptocurrency space and would add value and credibility to cryptocurrencies in the future. This is one of the main reasons why we do not see a further decline after creating a couple of weeks ago. Moreover, once the regulatory obstacles are sorted, you can be sure that the value of the cryptocurrencies would increase again.
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Bitcoin Price Predictions 2018: How high is the price of Bitcoin in 2018? Up to $ 1 million or up to $ 100? (Detailed analysis)
Bitcoin prices in 2018 were marked by volatility that made short-term bitcoin price forecast a bit of a challenge, even for experienced analysts. At the time of writing, the price of Bitcoin declined from 10k to less than 8k following the news that search engine giants, Google will ban cryptographic ads. So far, 2018 has presented its surprises, though not as dramatic as the roller coaster we say in 2017.
The story generally has a way of repeating itself, but the bitcoin has a lot of history that makes it an equal challenge to predict which story will be repeated. It takes a lot more than a study of past trends to get timely predictions right now and so we closed this article by highlighting some area experts who were watching.
Analysts, enthusiasts and industry figures have very divergent views and forecasts on both long and short-term bitcoin prices. Optimism is still high in many quarters – reports from a new survey of UK financials suggest that a large majority will buy more coins in hopes of a resumption of prices by the end of the year.
As we delve into who's saying what and why, here's a heads-up. Expect many more price fluctuations in the meantime. It will be a bumpy ride to get anywhere Bitcoin is in the lead by the end of the year.
Surely, Bitcoin is directed – John McAfee
John McAfee, Bitcoin supporter and founder of the famous McAfee antivirus software, is very positive about Bitcoin. He predicted that the price of Bitcoin will reach $ 1 million by 2020 after last year's forecast of $ 7,000, which was exceeded.
When I predicted Bitcoin at $ 500,000 by the end of 2020, it used a model that included $ 5,000 at the end of 2017. BTC accelerated much faster than the assumptions of my model. Now I'm preaching Bircoin for $ 1 million by the end of 2020. I'll still eat my dick if I'm wrong. pic.twitter.com/WVx3E71nyD
– John McAfee (@officialmcafee) November 29, 2017
The Bitcoin Price Prediction Tracker portal, Bircoin.top, did the math and explains that Bitcoin needs to grow daily to 0.4840957034310259% per day to meet McAfee's predictions. Currently, Bitcoin is around $ 8,207 compared to $ 7,171. Cool, right? However, to reach the goal of McAfee, BTC would have closed the year at just over $ 29k.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"BTC accelerated much faster than my assumptions about the model, and now I expect Bitcoin to be $ 1 million by the end of 2020. I will still eat my d ** k if I'm wrong" – John McAfee[/perfectpullquote]
Apart from the economy at the base of Bitcoin's limited supply, its forecast took into consideration factors such as the increase in the adoption of Bitcoin and blockchain and the total capital cap of cryptocurrency of about $ 162 billion, which offers ample room for growth.
Expect stability only after 10 years – Kristjan Dekleva (Hedge)
The financial expert based in Switzerland will give us courage for a decade of turbulence before any hope for a stable bitcoin. This suggests that it will coincide with a general acceptance of Bitcoin even in difficult China. This however, not as a fiat substitution but as a valid alternative.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In my opinion, it will take at least 10 years to see stability". – Kristjan Dekleva (Hedge)[/perfectpullquote] The finance expert of the Hedge cryptocurrency project sees the investments in Bitcoin all too similar to the DotCom bubble of the years' 90.
So Mr. Dekleva, what are we doing at dinner in 2018?[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In the short term, falls have been driven by emotion and in many cases by misinformation – a small voice can have a big impact …Demand is driven by market speculation, but the absence of institutional investors means that the market is unstable.[/perfectpullquote]
Instability is. The next stop is the prestigious Harvard.
Bitcoin will shrink to $ 100 – Kenneth Rogoff (Harvard Prof and former head of the IMF)
Known for his disparaging remarks against Bitcoin, a former chief economist of the International Monetary Fund (IMF), Kenneth Rogoff poured icy water on the hope that Bitcoin had arrived on the moon.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"I think Bitcoin will be worth a small part of what it is now if we go out in 10 years from now … I would see $ 100 as much more likely than $ 100,000." – Kenneth Rogoff[/perfectpullquote] Rogoff's prediction is based on his long-held belief that governments will rise up against anonymous virtual currencies like Bitcoin. The government regulations, according to Rogoff, will burst the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks on very different lines.
Bitcoin to reach $ 25k in 2018 – Tom Lee (partner Snr Fundstrat, former head JP Morgan)
Bitcoin's popular forecaster Tom Lee expects Bitcoin to reach $ 25,000 by the middle of 2018, more than double its price of about $ 10,000 in January, when the forecast was originally made.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"We anticipate that the historical minimum of bitcoin will be $ 9,000, and we would be aggressive buyers around that level" – Tom Lee[/perfectpullquote] Although Bitcoin went under Lee's base of $ 9,000 (close to $ 6,000), it rebounded to $ 11,000 in March. It will take a similar tour to what we saw last year for Bitcoin to achieve this goal. To make this happen, Lee counts on a larger number of institutional investors taking on Bitcoin and a steady increase in the Bitcoin user base. Lee's goal could be half the score according to the crypto-believers.
Volatile bitcoin to touch $ 50,000 – Jeet Singh (cryptocurrency portfolio manager)
Speaking in January at the World Economic Forum in Davos, Jeet Singh, an expert cryptocurrency fund manager, has predicted that the price of Bitcoin will reach $ 50,000. He warned of strong price fluctuations that he believes are normal for a Bitcoin market that is still maturing.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Bitcoin could definitely see $ 50,000 in 2018 … We will probably go through a period of suffering of volatility around the time of the next benchmark of $ 10,000 of Bitcoin. " – Jeet Singh[/perfectpullquote] Just like Lee, Singh expects Bitcoin to be adopted not only on the black market but from institutions and entire countries. If 50k seems too optimistic, how about 100k from the "Nostradamus of Markets"?
Bitcoin is the future; Fiat has passed – (Tim Draper, Venture Capitalist)
In 2014 with bitcoins for only $ 413, the popular VC, Tim Draper predicted bitcoins to reach $ 10,000 in three years. This came true a month earlier than expected to earn a reputation among cryptographic fans. Although he did not categorically expect a $ 100k Bitcoin in 2018, he said he expected Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype and Twitter in the past.
Assuming that this growth takes place at the same rate as the 3-year trip up to $ 10k, we are in six figures. Maniacal, right? That's exactly what Draper tries out of Bitcoin's prospects. Now on someone who understands a lot about the bitcoin foundation.
Bitcoin will hit $ 40,000 – Llew Claasen (executive director, Bitcoin Foundation)
Last month, Llew Classen made a bold statement to reassure Bitcoin believers that cryptocurrency is on the right track, in particular, on its way to reaching the $ 40,000 mark. Although his view of some altcoin supporters has not been very encouraging, he made it clear that as something new, the cryptocurrency will be as risky as it is exciting.
Bitcoin to pass $ 43K by December 2018 – (Finder.com survey)
Finder.com sought opinions on 13 cryptocurrency experts and concluded that the price of Bitcoin will witness a 300% growth to land at $ 43,000 by the end of the year. The site also predicted Bitcoin at over $ 14K by March 1st.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"While we saw the top 10 coins plunge 24% last month, our survey shows that panelists expect this to become an obstacle while these coins are destined to recover." – Jon Ostler, UK CEO, finder.com[/perfectpullquote]
Ostler noted that the forecasts were not thrown into the stone as they can easily be influenced by "external factors such as regulations, laws and banking systems"
Bitcoin will reach $ 320,000 a day – Cameron Winklevoss (co-founder, Gemini)
One of the famous Winkelvoss twins, Cameron Winklevoss recently stated that he could easily see the price of BTC rise by 40% a day. Maybe this year? Not likely The twin said that he and his brother were taking a longer perspective, 10 to 20 years.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin is currently fixed in the supply, so it's better than poor … it's equivalent to better gold across the board.We think that regardless of price changes in recent weeks, it's still a very underrated asset." – Winklevoss [/perfectpullquote] The fourth richest investor in cryptocurrencies has weighed the bitcoin against gold and has issued a resounding verdict. "We believe that the bitcoin upsets the gold" He said.
Bitcoin will reach $ 1 million – Bobby Lee (BTCC Exchange CEO)
Bobby Lee, CEO of Bitcoin's first Chinese exchange at London Blockchain Week, exaggerated his prediction. Lee said bitcoin will exceed $ 1 million but unlike McAfee, he could see it happen in 20 years.[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin, I think it will reach $ 1 million per bitcoin … Right now it's 10,000, it will go to 100,000 and then to 200,000, 500,000." – Bobby Lee[/perfectpullquote]
A good number of analysts have also had their opinion even if very few would have been dragged into real forecasts. We have observed a general tendency in their evaluations.
Expect price fluctuations:
In this phase, bitcoins and cryptocurrencies will be strongly influenced by speculations. Even small developments in governments, traditional prices will probably affect prices. Most say that fluctuations are normal and do not affect long-term prospects.
Experts would prefer to make predictions over a longer period. It is more common to have bitcoin price forecasts for 2020 or a 10 to 20 year perspective. While current reality may suggest a bit of sadness, it is worth remembering that the heights reached last year have come amid similar corrections along the way. It is only the 1st quarter of the year.
Bitcoin will be the standard for virtual currencies.
Although bitcoin may have a limited use case, it has been suggested to remain the king of all cryptocurrencies. It will not be about "which altcoin will exceed bitcoin" rather than how they will impress on their special use cases. It is a fact that the technology behind bitcoin is less sophisticated than many other projects such as ethereum.
Bitcoin as a reserve of value
Little by little, bitcoin is seen more as a store of value than a real currency is compared to gold and other assets. Bitcoin was originally designed as an alternative currency to cash out the unbanked. Most decision-making bodies and financial experts, however, see Bitcoin more as a store of value, a resource rather than a means of transaction.
Many Altcoin will suffer
Part of the process that will lead to the general acceptance of cryptocurrencies will include a cleanup of "useless" cryptocurrencies. A good number of the 2,000 coins will naturally go as their value becomes useless: some, only a fraction of a cent. Brad Garlinghouse, CEO of Ripple and Llew Claasen of Bitcoin Foundation are among those who raise this alarm.
The limited supply of bitcoin, a fixed supply of 21 million BTC, will play a role in its price; if not now, in the future.
External factors will play a significant role
Many observers believe that the external factors that influence the adoption of bitcoins will ultimately determine the price in the short term. The creation and trend of futures markets are expected to pry the price in both ways.
There are still concerns about bitcoins used for illicit purposes
Because of the anonymity of Bitcoin transactions, it was used to conduct illegal activities that give Bitcoin a bad overall picture. This image, according to analysts, will influence its adoption and, ultimately, its future prospects.
Finally, attention to the risk of life savings
Crypto investments are new and super-risky. Remember the ethereum founder who claims that the criptos are so risky that the premiums could actually drop to zero. Well, that does not seem practical but the message was clear. Do not invest the savings of a lifetime in bitcoins or cryptocurrencies in general. Just as John Draper noted, you still need to buy things in fiat. So even if the bitcoin will evaluate much more in the future, it is advisable to invest as much as one can afford to lose.