Predicting the potential value of Bitcoin (BTC) in the future is one thing a lot of analysts like doing very well in the digital currency space. Earlier last year, Bitcoin (BTC) and other digital currencies in the market saw a wide range of predictions. Many analysts predicted the possible value Bitcoin (BTC) could attain by the end of the year, with Tom Lee predicting a whopping $25k for Bitcoin by the end of 2018.
However, all of those predictions failed as none of them came to pass. 2019 has kicked-off, and we have started seeing an influx of new predictions. Recently, Tom Lee appeared in an interview where he was asked about his last year’s prediction for Bitcoin (BTC). Lee gave his reason for predicting $25k for Bitcoin (BTC), and he still believes the digital currency would hit that level in the near future.
Bitcoin (BTC) Could Surge by 84 Percent by the End of this Year
Some fintech and digital currency experts, including Ben Ritchie, believe that Bitcoin (BTC) could see a massive price surge of about 84 percent by the end of this year. This possibility gives hope to a lot of Bitcoin (BTC) investors and holders that have had to see the value of the largest digital currency in the world plunge massively since it tested its all-time high in 2017.
The digital currency market has been very bearish since last year, and Bitcoin (BTC) is currently trading below the $3,500 level. A lot of digital currencies have lost a significant fraction of their values to the bear market, with some declining as much as 90 percent over the past thirteen months.
The bear attack earlier this month as also breached the support level of Bitcoin (BTC). Bitcoin (BTC) was earlier supported at the $3,500 level, but that level now serves as a hurdle point for the digital currency. Nevertheless, as per a panel of experts polled by Finder.com.au, the Bitcoin (BTC) market will definitely recover from the bear market and test new yearly highs.
The poll also revealed that on an average, the panel of experts believed that Bitcoin (BTC) will end this year over the $7k level, a 50 percent increase over the current value of the digital currency. Nevertheless, that was not the most bullish forecast offered by the experts.
Bitcoin (BTC) Price Today – BTC / USD
The CEO of Digital Capital Management – Ben Ritchie – said that the digital currency market will hit new heights, with Bitcoin (BTC) taking the lead and hitting the $9,500 mark by the end of this year. If the digital currency tests that level, it would prove to an unbelievable 84 percent increase over the present value of the digital currency.
Irrespective of the optimistic price prediction of BTC, the CEO was conservative with regards to the general future of the digital currency market over the year. Ritchie said the crypto market will sail safely and steadily this year. He also suggested that the crypto market may not see many institutional investors in the market just yet.
In addition, Ritchie said that he doesn’t believe the digital currency market is immune to external shocks. However, he doesn’t discount the possible effect of the traditional market on the already volatile digital currency market.