The values of Bitcoin, Ripple, and other cryptocurrencies have been crashing lately, but one analyst is predicting a huge rise ahead for Bitcoin—with a forecast for it to reach as high as $100,000 in 2018.
“Investors appear to be taking a breather from bitcoin for now and looking at alternative cryptocurrencies,” technology correspondent Arjun Kharpal said in a CNBC story.
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Bitcoin headed to $100,000 in 2018, says analyst who predicted last year’s price rise. Bitcoin could hit $100,000 in 2018, an analyst who correctly predicted the cryptocurrency’s rally at the start of last year told CNBC. Kay Van-Petersen, an analyst at Saxo Bank, said in December 2016 that bitcoin would reach $2,000 in 2017, a feat achieved in May. Van-Petersen now says bitcoin will be driven by a larger uptake of institutional investors and futures contracts.
There are individuals within the financial world who believe bitcoin will breach the $100,000 mark this year.Kerim Derhalli, CEO of investment app Invstr, said: “Bitcoin is the next logical stage of the information revolution. This time a year ago it was worth under a $1,000. I predict next year [2018] it could hit the $50,000 to $100,000 mark.
“Bitcoin is something that has gone against the established government system and seems to be winning.”
Olga Feldmeier, CEO of Smart Valor, said: “it can easily go to $100,000 by the end of the next year [2018] and possibly even beyond.”
Nick Spanos, founder of Zap.org and the Bitcoin Centre NYC, said: “Bitcoin has a stellar year ahead [2018]. No matter how low bitcoin went in the past, it always climbed back at least a few times stronger.
“Bitcoin is now tested and proven to the market: more importantly, people now separate the Blockchain’s incredible abilities from outside issues, so bitcoin is gaining more solid confidence from users and outsiders as this understanding improves. These perceived downsides are being taken care of, while the upside for bitcoin is virtually limitless.”
Not everyone is so concerned about Bitcoin’s movement. John McAfee, famed for his role in creating the world’s first commercial antivirus software and a noted cryptocurrency follower, has doubled down on his prediction that Bitcoin could reach unparalleled heights in 2018: Jon MacAfee: “For you who are long term investors like myself: (those who allways make the most returns), BITCOIN is still the crypto giant. It is at a low price, and will never be cheaper. It will be ten times this price in 2018. Remember – it has the lowest circulating supply of any coin.
McAfee isn’t alone in his thoughts that Bitcoin’s price could go further, but some believe it’s because the bubble could go higher before catastrophically popping.
“I think we’re going to see bitcoin hitting the $60,000 mark, but I also think we’re going to see bitcoin hitting the $5,000 mark,” Julian Hosp, a cryptocurrency entrepreneur and founder co-founder of crypto firm TenX, told CNBC. “The question is though, ‘Which one is it going to hit first?’”
“The fact that this is our first global mania will make this the single most speculative bubble of our lifetimes,” Mike Novogratz, a billionaire that’s put 30 percent of his worth into cryptocurrency, told Fortune. “It wouldn’t be crazy if the crypto bubble hit $10 trillion, and that’s 20 times more than what it is today.”
However, pointing to evidence that more people want to buy in, Bitcoin expert Spencer Bogart said that he could see the cryptocurrency hitting $50,000 over the coming year. An October poll by Harris showed two percent of Americans own Bitcoin but 19 percent said they are likely to buy over the next five years, representing a tenfold increase in market size.
“I think we’ll have to force price higher,” Bogart said in comments reported by the Daily Express. “If you think about the supply side of that equation, the majority of Bitcoin is again locked down with long terms holders. So there’s not a lot of supply available. And meanwhile, we have this new uptick on the retail side.”
Tom Lee Says BTC Will Hit $25,000 in 2018, Advises ‘Aggressive’ Buying At Market Low. Co-founder and Fundstat strategist Tom Lee predicted that Bitcoin (BTC) will hit $25,000 by the end of this year in an interview with CNBC today, Jan. 18. Lee had previously forecasted that BTC would only reach this mark by 2022. The Wall Street strategist told CNBC today that now by 2022 he sees BTC hitting the $125,000 mark.
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Vitalik Buterin believes that 2017 was “the year where hype in crypto…far exceeded the reality of what existing blockchain systems can offer.” (Source: “Ethereum co-founder Vitalik Buterin has left VC firm Fenbushi Capital,” TechCrunch, January 15, 2018.) But, Buterin expects that 2018 “will be the year of action.” All the ideas he and other developers have been working on—such as “scalability, Plasma, proof-of-stake, and privacy”—are going to “turn into real, live working code.” Buterin ended these comments to TechCrunch with a spine-tingling quote: “Everyone in the Ethereum space recognizes that the world is watching, and we are ready to deliver.”
Keep in mind that attempting to offer a short term prediction for the price of Ether is a difficult endeavor. For starters, the price of a single Ether is so volatile that it can lose 25% of its value in one day, only to regain it in the next. The most recent example is, 50 days ago was a bit under $300 and now is $1,200. But there was a lot of volatility in the last few weeks with Ethereum going to as low as $550 and back to $770, and now at $1,200 after it was for short time at $1,300. This volatility, as well as the novelty of this currency – Ethereum was started 2014 – drain technical analysis from any potency it might have in making Ethereum price predictions for 2018. Rendering any forecast suspicious at best. Therefore, all the following predictions take a long-term look at things.
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Bitcoin price BOOST: Cryptocurrency ‘oracle’ says bitcoin cash is the FUTURE
BITCOIN may soon have to take a backseat to its offspring bitcoin cash, the ‘bitcoin oracle’ Vinny Lingham has said.
Speaking to CNBC, he said: “Personally when I look at bitcoin versus bitcoin cash.
“Bitcoin and bitcoin cash actually they’re focusing on two completely separate markets right now.
“These two products are serving different needs in a market.”
He said: “The one need is global fast cheap payments with some tradeoffs and the other need is anti-fiat money where everyone can run a node to monitor and value their transactions.
“When I look at it from a products standpoint I think the greater demand is for peer to peer cash than for digital gold.
“But you know this is not something we will be certain of until a couple of years when this plays out.”
I think the greater demand is for peer to peer cash than for digital gold
Bitcoin Cash Price Prediction 2018: Is it too late to buy Bitcoin Cash?
2017 was a big year for Bitcoin Cash. What will 2018 hold?
Bitcoin Cash (BCH) had an eventful year in 2017. It was created in August as fork of bitcoin, amidst a storm of controversy. It quickly beat back the doubters with strong growth and reached a high of over US$900 by the end of the month.
Then it slumped back down. But in November it quickly surged to around $2,000 as people jumped aboard following bitcoin’s Segwit2x controversy. Then the market readjusted and it slumped again.
It leapt again just before Christmas though. When CoinBase announced that it would be accepting Bitcoin Cash, prices jumped to a new all time high of over $4,000. As it entered the new year, BCH prices were riding at a relatively consistent $2,500.
Why Bitcoin Cash could keep going
It seems to have untapped demand
Since its creation Bitcoin Cash has ballooned with little encouragement. Wider available has always seen plenty of new users jump on board, with corresponding price rises. A quick look at its brief price history makes it easy to conclude that it still has room to grow.
It’s still nowhere near as widely available as bitcoin or Ethereum, so there’s the potential for more spikes as it’s picked up by additional exchanges and further opened to the market.
Traditionally it’s also tended to draw most of its new users from dissatisfied bitcoin buyers. This might continue until BTC resolves its problems with transaction times, and transaction fees.
It’s resilient and familiar
Each spike has added tens of millions to the Bitcoin Cash market cap. Despite the inevitable readjustments, it’s always stayed higher than it started. If you feel like Bitcoin Cash has more spikes in its future, it might be worth putting some money behind it.
It’s also very technologically familiar, functioning a lot like bitcoin other than a larger block size. This means some of the new bitcoin infrastructure, such as bitcoin ATMs, bitcoin EFTPOS cards and more, could make the switch to Bitcoin Cash relatively easily.
It’s well known and has major supporters
Bitcoin Cash has attracted some major supporters, especially in the form of dissatisfied bitcoin converts. For example, the founder and CEO of Bitcoin.com publicly announced that he was done with bitcoin and turning everything to Bitcoin Cash.
This growing support is likely to drive further growth of Bitcoin Cash as a valid payment method, and draw over more of the infrastructure that’s been getting behind bitcoin core.
Ripple XRP/USD: Ripple price: Is XRP the next bitcoin? How high could the price go?
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Adam Webb is editor in Smartereum, blockchain and currency news, where he produces updates on Blockchain, Ethereum and other alternative cryptocurrencies.
