Happy new year followers!
After an incredible year for Bitcoin and other crypto-currencies, the big question is can they deliver again in 2018?
Make no mistake, this is either a paradigm shift or the bubble of a lifetime. The battle lines have been drawn and both sides will watch 2018 eagerly. I'm more on the side of paradigm shift. There's another question about whether the movement has been created by, or infiltrated by the 'elites', but that's another question and beyond the scope of this post.
I think crypto will defy the naysayers with another big year in 2018.
Conservatively, my target is the cryptos will see a +$2 trillion market cap by the end of 2018, with Bitcoin to see a $1 trillion market cap.
Given a rough estimate of 17 million bitcoin in circulation, that will give us a valuation of circa US$60,000 bitcoin.
So my predictions are:
Low case: $50b market cap for cryptos.
Base case: $2trillion
High case: $5 trillion.
The high case would give us another year of close to 10x, or Bitcoin over US$100,000 coin.
To see the high case, I think we would need to see compelling developments in terms of security, transaction times and fees. A correction in other asset markets could also help as people turn to Bitcoin as digital gold and to avoid bank bail-ins and intrusive governments.
Over and out!
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