With increasingly positive voices coming out in favor of Bitcoin, it remains to be seen whether it will actually increase in value significantly until the end of this year or whether it will remain around this levels. Many of the other cryptocurrencies have been consistently rising in the past couple of weeks. This is the reason why investors are again turning bullish on cryptocurrencies and think that, they will increase in value further. Many of the enthusiasts are actually predicting higher peaks as well as newer peaks for the cryptocurrencies.
Bitcoin Price Today
Name Price 24H (%)
BTCBitcoin (BTC)
$6,503.08
-7.69%
Bitcoin Price Forecast: Tim Draper Predicts Bitcoin Will Be Worth More Than $100,000. Bitcoin prices drop on Friday, as yesterday’s market rally corrects. The BTC to USD rate has retraced to $9,895.91 at the time of writing, after crossing $10,000 yesterday.
Not much has changed in the past 24 hours. There has been no earth-shattering good news nor nerve-racking bad news. We are viewing the sideways swing as the customary price movement in this space.
In the meantime, however, we’re turning our focus to the longer term to predict which way Bitcoin prices will be journeying next. At least one revered market analyst agrees with us that BTC will be heading north.
Famous Venture Capitalist Tim Draper was on Bloomberg two days ago, sharing his thoughts on why Bitcoin will be worth a lot more than what it is today.
For reference, he’s the guy who predicted in 2014 that Bitcoin would hit $10,000 in three years. And it did!
This time, his prediction is way more outlandish, even by our insanely bullish standards. Draper predicts that a major part of today’s fiat currency market will be dominated by cryptocurrencies in the future. He identifies that the world market for fiat currencies is worth $86.0 trillion today.
If we go by his prediction and do some quick math on prices, Bitcoin turns out to be worth more than $100,000.
Draper gives us at least three reasons in his very brief interview why he believes that Bitcoin is the future of currency.
It’s borderless. You could go to any country and use it.
It’s not subject to the whims of a government. The supply is constant and the price is determined by free market demand.
It’s banking the unbanked. You can bypass the traditional banking system, avoid surveillance, and get rid of hefty fees.
As for investment advice, Draper made it loud and clear.
“People ask me, ‘Are you going to sell your Bitcoin?’ And I say, ‘Why would I sell the future for the past?’”
Analyst Take
Bitcoin has come a long way since its birth in 2009. It has emerged as a popular alternative to fiat currency in certain parts of the world where fiat currency has lost value (take the example of Venezuela or Zimbabwe), or where banks are few and far between (for instance, the remote areas of Africa).
Likewise, in the developed world, governments and regulators are yielding to cryptos. Countries like the U.S., South Korea, and Japan have shown willingness to integrate Bitcoin and other cryptos into their financial systems by setting up regulated markets that may function freely and securely. Source: profitconfidential.com
Tim Draper is personally invested in Bitcoin so his advice may seem biased. But consider our Bitcoin price forecast to be somewhat of an impartial take on Bitcoin since we have no skin in the game. Based solely on its fundamental growth, we see Bitcoin reaching our BTC target of $15,000 in 2018.
Llew Claasen: Bitcoin will hit $ 40,000
Llew Claasen who is the executive director of Bitcoin foundation recently stated that he expected Bitcoin to hit $ 40,000 by the end of this very year. He further added that 90% of the cryptocurrencies will actually fall.
According to him, most of the cryptocurrency projects will actually turn out to be scams. Many of the management will not be able to control the risk involved in cryptocurrency projects. This is the reason why majority of the cryptocurrency tokens will actually turn out to be scams.
Lessons for the cryptocurrency community:
He further adds that this is actually a lesson for the cryptocurrency community. With the increased safety as well as precautions, it will be easier for the cryptocurrency experts to learn from these mistakes. Moreover, the exchanges will also be able to learn from these mistakes which will ensure that the cryptocurrency community becomes much more secure.
According to him, by the end of this calendar year, Bitcoin will be trading around $ 40,000. He further added that there will be a significant amount of volatility before Bitcoin actually hits those levels. It seems like, many of the investors, as well as cryptocurrency enthusiasts, are actually positive about Bitcoin in this very year. The problem is that with a significant fall already seen, most of the retail investors are not pumping money into Bitcoin. This is the reason why the movement is not that strong currently when it comes to Bitcoins.
With increasingly positive voices coming out in favor of Bitcoin, it remains to be seen whether it will actually increase in value significantly until the end of this year or whether it will remain around this levels. Many of the other cryptocurrencies have been consistently rising in the past couple of weeks. This is the reason why investors are again turning bullish on cryptocurrencies and think that, they will increase in value further. Many of the enthusiasts are actually predicting higher peaks as well as newer peaks for the cryptocurrencies. It remains to be seen whether Bitcoin will indeed be able to rise to $ 40,000 in the current calendar year or not. For now, however, it looks like a pretty tall prediction as the currency has just now crossed $ 10,000.
Bitcoin price to ‘double’ in 2018 cryptocurrency boom as Ethereum, Ripple and Litecoin surge, analysts predict
The price of Bitcoin will double within six months and regain the astonishing heights it reached before its value plunged in the recent ‘cryptopocalypse’. That’s the opinion of one analyst who claims to have spotted a pattern in the famously unpredictable behaviour of the Bitcoin market. Anyone who can accurately foresee cryptocurrency price changes stands to become extremely wealthy, profiting by purchasing virtual coins when the price is low and then selling high.
But Bitcoin, Ethereum and all the other cryptocurrencies are famously volatile, meaning that foolproof predictions are impossible. Thomas Lee, managing partner at the financial research firm Fundstrat Global Advisors, expects to see a new record peak for Bitcoin by July, based on analysis of the currency’s 22 corrections since 2010.
A graph showing Bitcoin’s rollercoaster ride over the past three months The original cryptocurrency jumped in value by more than 1,300 percent last year, hitting a record peak of almost $20,000 on December 17 before plunging by 70%. He said: ‘Bitcoin recoveries take 1.7 times the duration of the decline and this implies that 85 days are needed to recover prior highs. ‘This is July 2018.’ On the Luxembourg-based Bitstamp, Bitcoin rose as high as $10,234, up nearly 7% on the previous day.
On Coindesk, it’s currently sitting at a value of just under $10,000. Other digital currencies also rose after posting steep losses over the last few weeks. Ethereum, the second-largest by market value, was up 2.5 percent over the past 24 hours at $933.24, while the third-largest, Ripple, gained 5.3 percent to $1.15, according to cryptocurrency price tracker coinmarketcap.com. ‘Bitcoin’s increase has coincided with the rally in global stock markets,’ said Miles Eakers, chief market analyst, at FX brokerage Centtrip, adding that a sustained break above $10,000 could open the $12,000 level.
What is bitcoin?
Bitcoin has been buffeted this year by a series of negative headlines centring around increased scrutiny by global regulators. There have also been a number of hacks on exchanges, the latest being the theft of roughly $532.9 million in digital money from Tokyo-based cryptocurrency exchange Coincheck.
Yesterday, European Central Bank executive board member Yves Mersch used a speech in Paris to warn that Bitcoin is not a currency, but a speculative digital asset, according to a Market News International report. He added that because virtual currencies ‘may become worthless at any time’ because do not have a trusted issuer like a central bank behind them. Mersch said he is not surprised that virtual currencies are not widely accepted as a means of payment.
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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.