Bitcoin Price Prediction 2018: Can cryptocurrency hit $50,000 this year? -Bitcoin News Today –Sun May 13

  

Can Bitcoin hit $ 50,000 this year? While most of the  cryptocurrencies are much below their earlier highs but there are newer  and newer predictions coming up for cryptocurrencies. One such  prediction is that Bitcoin can rise to as high as $ 50,000 in the  calendar year 2018. A cryptocurrency portfolio manager by the name of Jeet Singh, stated  at World Economic Forum in Davos, that the current volatility is  completely normal when it comes to the cryptocurrencies space. He also  stated that it is normal for cryptocurrencies to fluctuate by 70% to  80%. This is one of the main reasons why the current volatility does not  worry him at all. [sm_bitcoin_price] He compared cryptocurrencies to the current bellwether companies  like Microsoft as well as Apple. Initially, their stocks were also  pretty volatile. However, as the companies develop their business model,  the stocks not only rose but they become much more stable as well. 

 However, many of the investors are actually currently worried due to  the high volatility in cryptocurrencies. According to him, however,  long-term investors need not fear the volatility at all. Since they are  here to stay for a longer period of time, they would have no problem at  all in holding the cryptocurrencies for a longer period of time as well. He further added that Bitcoin would reach as high as $ 50,000 this  year. If indeed that happens, the current price of Bitcoin being around  just $ 10,000, that would be a fivefold increase once again. Whether the portfolio manager is right or wrong, only time would be  able to tell. The truth is that currently, many of the investors are  worried about putting new money into Bitcoins. Only once they are sure  that the volatility would end and the Bitcoin resumes its uptrend you  can be sure that most of the investors would actually get ready to  invest in this cryptocurrency. For now, however, most of the investors are keeping away from the  cryptocurrency boom. Many of the investors are just holding their  holdings patiently in order to find out whether the cryptocurrencies  resume their uptrend or not. It is still too uncertain for most of the  investors to take a call. On the other hand, institutions are increasing  their presence in the cryptocurrencies pace as well which is sure to  benefit the cryptocurrencies space and would add value and credibility  to the cryptocurrencies in the future as well. This is one of the main  reasons why it is not seeing further fall after creating a bottom few  weeks back. Also, once the regulatory hurdles are sorted, you can be  sure that the value of cryptocurrencies would again more. tags: bitcoin price prediction today usd, bitcoin forecast 2018,  bitcoin price prediction chart, bitcoin forecast 2020, bitcoin forecast  2017, bitcoin price prediction 2019
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Bitcoin Price Predictions 2018: How high can Bitcoin price go in 2018? Up to $1 million or down to $100? (In-Depth Analysis) Bitcoin prices in 2018 have been marked by volatility which has made  bitcoin price prediction in short-term a bit of a challenge, even for  the experienced analysts. As at the time of writing, the price of  Bitcoin took a dip from 10k to under 8k following news that search  engine giants, Google will ban crypto-related ads. So far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we say in 2017. History generally has a way of repeating itself but bitcoin has a lot  of history which makes it an equal challenge predicting which history  will be repeated. It takes more than a study of past trends to get  predictions spot-on this time and so we ended this article by  highlighting certain area expert analysts were looking at. Analysts, enthusiast, and industry figures have very diverging  opinions and bitcoin price predictions for both long and short-term.  Optimism is still high in many quarters—reports of a new survey among  British financials suggest a wide majority will buy more coins in hope  of price resurgence later this year. 

 As we delve into who’s saying what and why, here’s a heads-up. Expect  a lot more price fluctuations in the interim. It’s going to be a bumpy  ride getting to wherever Bitcoin is headed by the year’s end. 

Surely, Bitcoin is headed up – John McAfee

John McAfee, Bitcoin supporter and founder of the popular McAfee  antivirus software, is being very positive about Bitcoin. He predicted  that Bitcoin price will hit $1 million by 2020 following last year’s  prediction of $7000 which was well surpassed. 

 Bitcoin Price Prediction Tracker portal, Bircoin.top, did the maths  and explain that Bitcoin needs to grow daily at 0.4840957034310259% per  day.to meet McAfee’s prediction. Currently, Bitcoin is around $ 8,207  compared to $ 7,171. Cool right? However, to hit McAfee’s target, BTC  would end the year just over $29k. 

“BTC  has accelerated much faster than my model assumptions. I now predict  Bitcoin at $1 million by the end of 2020. I will still eat my d**k if  wrong” – John McAfee

Apart from the economics behind the limited supply of Bitcoin, his  prediction considered the factors like the increased adoption of Bitcoin  and blockchain as well as a total cryptocurrency’s market cap around  $162 billion which gives large room for growth. 

Expect stability only after 10 years – Kristjan Dekleva (Hedge)

The Swiss-based financial expert will have us brace up for a decade  of turbulence before any hope for a stable bitcoin. This he suggests  will coincide with a general acceptance of Bitcoin even in hard-stance  China. This though, not as a fiat replacement but a viable alternative. 

“In my opinion, it will be at least 10 years before we see stability”. – Kristjan Dekleva (Hedge)

The finance expert at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar to the DotCom bubble of the 90s. So Mr. Dekleva, what are we having for supper in 2018? 

“In the short-term, falls have been driven by emotion and in many cases disinformation – a small rumor can have a big impact…Demand is driven by market speculation, but the absence of institutional investors means the market is unstable.

Instability it is. Next stop is the prestigious Harvard. 

Bitcoin to shrink to $100 – Kenneth Rogoff (Harvard Prof & ex IMF chief)

Known for his disparaging remarks  against Bitcoin, a former chief economist at the International Monetary  Fund’s (IMF) Kenneth Rogoff has poured icy water on hopes of Bitcoin  making it to the moon. 

“I  think Bitcoin will be worth a tiny fraction of what it is now if we’re  headed out 10 years from now…I would see $100 as being a lot more likely  than $100,000.”  – Kenneth Rogoff

Rogoff’s prediction is based on his long-held belief that governments  will rise against anonymous virtual currencies like Bitcoin. Government  regulations, according to Rogoff, will pop the Bitcoin bubble but a  Bitcoin pioneer on Wall Street thinks along very different lines.   

Bitcoin to reach $25k in 2018 – Tom Lee (Snr. partner Fundstrat; ex-chief JP Morgan)

Popular Bitcoin forecaster Tom Lee expects Bitcoin to reach $25,000 by mid-2018, more than double its price of about $10,000 in January when the prediction was originally made. 

“We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level,”  – Tom Lee

Though Bitcoin went below Lee’s base of $9,000 (nearing $6,000), it has  bounced out reaching in March $11,000. It will take a ride similar to  the one we witnessed last year for Bitcoin to reach this mark. To make  this happen, Lee is counting on more institutional investors taking on  Bitcoin and a steady increase in Bitcoin user base. Lee’s target may be  half the mark according to fellow crypto-believer. 

 

Volatile Bitcoin to touch $50,000 – Jeet Singh (cryptocurrency portfolio manager)

Speaking in January at the World Economic Forum in Davos, experienced  cryptocurrency fund manager, Jeet Singh predicted that the price of  Bitcoin will go as high as $50,000. He warned of heavy price  fluctuations which he believes is only normal for a Bitcoin market that  is still maturing. 

Bitcoin  could definitely see $50,000 in 2018…We will probably go through a  suffering period of volatility around the time of Bitcoin’s next $10,000  landmark.”  – Jeet Singh

Just like Lee, Singh expects Bitcoin to be adopted not just in the black  market but by institutions and entire countries. If 50k seems too  optimistic, how about 100k from the “Nostradamus of Markets”? 

Bitcoin is the future; Fiat is Past – (Tim Draper, Venture Capitalist)

In 2014 with bitcoin at only $413, popular VC, Tim Draper predicted  bitcoin to reach $10,000 in three years. This was fulfilled a month  earlier than he predicated earning him a reputation among crypto fans.  Though he didn’t categorically, predict a $100k Bitcoin in 2018, He said  he expected the 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 this growth happens at the same pace as the 3-year journey  to $10k then we’re in for six digits. Maniacal right? That’s exactly how  Draper feels about Bitcoin prospects. Now onto someone who understands a  lot about bitcoin’s 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 the cryptocurrency is on the right track –specifically,  on track to reach the $40,000 mark. Though his outlook for some altcoin  holders was not very encouraging, he made it clear that as something  new, cryptocurrency will be as risky as it is exciting. 

Bitcoin to pass $43K by December 2018 – (Survey by Finder.com)

Finder.com sought opinions of 13 cryptocurrency experts and concluded  that Bitcoin price 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  1. 

“While  we saw the top 10 coins dive by 24 percent last month, our survey shows  panelists are expecting this to be a bump in the road as these coins  are set to recover.” – Jon Ostler, UK CEO, finder.com

Ostler noted that the predictions were not cast in stone as they can  easily be swayed by “outside factors such as regulations, laws, and  banking systems” 

Bitcoin Will hit $320,000 someday – Cameron Winklevoss (co-founder, Gemini)

One of the popular Winkelvoss twins, Cameron Winklevoss recently said  that he could easily see the price of BTC go up 40% someday. This year  maybe? Not likely. The twin said he and his brother were taking longer  outlook, 10 to 20 years. 

“Bitcoin  is actually fixed in supply so it’s better than scarce … it sort of  equals a better gold across the board. We think regardless of the price  moves in the last few weeks, it’s still a very underappreciated asset.”  –  Winklevoss 

The fourth wealthiest cryptocurrency investor weighed bitcoin’s prospect against gold and came up with a resounding verdict. “We believe bitcoin disrupts gold,” He said. 

Bitcoin will reach $1million – Bobby Lee (CEO BTCC Exchange)

Bobby Lee, CEO of China’s first Bitcoin exchange speaking at the  London Blockchain Week went overboard with his prediction. Lee said  bitcoin will surpass $1 million but unlike McAfee, he could see this  happen in 20 years’ time. 

“Bitcoin, I think will get to $1 million per bitcoin…Right now it’s 10,000, it will go 100,000 and then 200,000, 500,000.”  – Bobby Lee

IN SUMMARY

A good number of analysts have also had their say though very few  would be drawn into actual predictions. We observed a general trend in  their assessments. 

 

Expect Price Fluctuations:

At this stage, bitcoin and cryptocurrencies will be greatly affected  by speculations. Even small developments in governments, traditional  will likely affect prices. Most say the fluctuations are normal and  wouldn’t affect the longer term outlook. 

Long-term outlook

Experts would prefer to make predictions over a longer period. It is  more common to have bitcoin price predictions for 2020 or a 10 to  20-year outlook. While the current reality may suggest some gloom, it’s  worth remembering that the heights achieved last year came amidst  similar corrections along the way. It’s only the 1st quarter of the  year. 

Bitcoin will be the standard for virtual currencies.

Though bitcoin may have a limited use case, it has been tipped to  remain the king of all cryptocurrencies. It’s not going to be a case  of “which altcoin will overtake bitcoin” rather how they will impress  with their special use cases. It is a fact that the technology behind  bitcoin is less sophisticated when compared to many other projects like  ethereum. 

Bitcoin as a store of value

Gradually, bitcoin is being seen more as a store of value that an  actual currency being compared to gold and other assets. Bitcoin was  originally designed as an alternative currency to bank the unbanked.  Most decision making bodies and financial experts, however, see Bitcoin  more as a store of value, an asset rather than a medium of transaction. 

Many Altcoins will suffer

Part of the process that will lead to general acceptance of  cryptocurrencies will include a clean-up of “useless” cryptocurrencies. A  good number of the 2000 coins will naturally go away as their value  become worthless—some, only a fraction of cent. Brad Garlinghouse, the  CEO of Ripple and Llew Claasen of Bitcoin Foundation are among those  raising this alarm. 

Economics of Scarcity

The limited supply of bitcoin—a fixed supply 21 million BTCs—will play a role in its price; if not now, in the future. 

Outside factors will play a significant role

Many observers believe that outside factors which affect the adoption  of bitcoin will ultimately dictate the price in the short-term. The  creation and performance of futures markets, for instance, is expected  to tilt the price either way. 

There are still concerns about bitcoins used for illicit purposes

Due to the anonymity of Bitcoin transactions, it has been used to  conduct illegal activities giving Bitcoin a general bad image. This  image, analysts believe will affect its adoption and ultimately its  prospects in the future. 

Finally, Caution against risking your life savings 

Crypto investments are new and super-risky. Remember ethereum founder  saying that cryptos are so risky the prizes might actually drop to  zero. Well, that doesn’t seem practical but the message was clear. Do  not invest your life savings in bitcoin or cryptocurrencies generally.  Just like John Draper noted, you still need to buy stuff in fiat. So  while bitcoin will likely worth a lot more in the future, it’s advisable  to invest just as much as one can afford to lose.  Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not  provide legal, investment, tax, etc advice. You should not treat any  information on smartereum.com as a call to make any particular decision  regarding cryptocurrency usage, legal matters, investments, taxes,  cryptocurrency mining, exchange usage, wallet usage, initial coin  offerings (ICO), etc. We strongly suggest seeking advice from your own  financial, investment, tax, or legal adviser. Neither  smartereum.com nor its parent companies accept responsibility for any  loss, damage, or inconvenience caused as a result of reliance on  information published on, or linked to, from smartereum.com.