Hello, Steemit friends, Bitcoin is having a wild ride in 2018. The advanced money started the year on high note. Bitcoin costs almost came to $20,000 in December 2017 as speculators filled cryptographic forms of money. Here's what five bullish experts had to tell about the future of bitcoin and cryptocurrencies.
CHAMATH PALIHAPITIYA (FOUNDER & CEO SOCIAL CAPITAL) said in December 12, 2017
The same way that I said in 2013. put one percent of your net worth into bitcoin. I will put myself out there today. I think this thing is a $100,000 a coin probably in the next three to four years. And I think it is in the next 20 years $1,000,000 a coin. What I am saying is you can buy the S&P 500 index buy 99 percent of that. So if you have $100 to invest, what I am saying is put one dollar. And the reason that one dollar is so valuable. Is that it is fundamentally not correlated to the other $99 and just on the off chance that all the people that manage the $99 may not totally know what they're doing. The one dollar may actually save us all.
CHAMATH PALIHAPITIYA (FOUNDER & CEO SOCIAL CAPITAL) said in May 9, 2018
So in 2018 or 2019, heaven forbid we go through another cataclysmic financial event. We are going to see the same fundamental correlation. And so again I ask, why would it not make sense to have a non-correlated hedge? for a small amount of your- this is about buying insurance.
IN JUNE 2018, CHAMATH TWEETED THAT BITCOIN WOULD BE WORTH MORE THAN GOLD
THOMAS LEE (HEAD OF RESEARCH FUNDSTRAT GLOBAL ADVISORS) said in June 4, 2018
Bitcoin Still works great today. It's a great store of value. I think it works really well in terms of digital transactions and I think it's a great example of security. In 10 years, not a single person has entered a fraudulent entry on the blockchain. That's trillions of dollars of on-chain transactions. None of them have proven to be fraudulent.
THOMAS LEE (HEAD OF RESEARCH FUNDSTRAT GLOBAL ADVISORS) said in June 5, 2018
I think the reason bitcoin looks really good here is the cost of mining is around $7,000 fully-loaded and the difficulty is rising, so by the end of the year it's going to be close to $9,000. Bitcoin has historically traded at two-and-a-half-times its mining cost. So it's not out of the question that it could be over $20,000 by the end of the year.
BRIAN KELLY (FOUNDER & CEO BKCMLLC) said July 15, 2018
Here's what I find interesting about ethereum versus bitcoin. Here's your lows that you had before
Now, what's ineresting is bitcoin is right on the lows. In fact breached it a bit, but ethereum did not
So relative value wise, ethereum has been trading a little bit better than bitcoin
So, if I were going to be long in this market, as I am, I would overweight ethereum at this point in time.
RAN NEU-NER (FOUNDER & CEO ONCHAIN CAPITAL) said in February 2, 2018
We haven't even got to the start line of cryptocurrencies. The technology isn't ready to go mainstream yet. It's very hard to open an account. It's unscalable. So, yes here is a new digital gold, a new digital store of value.. I think bitcoin the store of value. But the game hasn't even started yet.
RAN NEU-NER (FOUNDER & CEO ONCHAIN CAPITAL) said in June 11, 2018
My view is that bitcoin is a digital gold and that very soon, is a couple of years, there'll be more demand for bitcoin than there will be for physical gold. Now we know how the algorithm works in terms of mining and we can have these discussions as to whether it's better or worse than gold. But we're still creating that demand.
RAN NEU-NER (FOUNDER & CEO ONCHAIN CAPITAL) said in June 28, 2018
If you understand the technology and you're a bull, then now is a great time to be buying. We know that there were 27,000 blockchain startups in 2017. In the first six months of 2018, there are 28,000 blockchain startups. There's a huge venture capital scene and the blockchain is progressing and this thing isn't going away.
ARTHUR HAYES (CO-FOUNDER & CEO BITMEX) said in June 29, 2018
so the volatility has actually dropped as the price has dropped. Which is actually a problem because if you're investing in bitcoin, it's essentially a call option. You want as much volatility as possible to have as much chance that bitcoin goes to $50,000, $100,000, $1,000,000, whatever that high number is. So as volatility drops and the price drops, it actually is a bad thing for the market. Especially since it's only about a $200 billion market cap asset. Which is de minimis in the grand scheme of things. In 2013 to 2015, we went from $1,200 to $200. In 2015 to 2017, $200 to $20,000. So, we've done these sort of moves before. I think the timespan is going to shorten because you have many more people involved in the market and who have invested capital and resources to be able to trade this asset class. And so now that we have more visibility, more people talking about it, the time between an aggressive bear market and an aggressive bull market. I think is going to shorten. We're one positive regulatory decision away, maybe an ETF approved by the SEC to climbing through $20,000 and even to $50,000 by the end of the year.
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