Due to the Bitcoin dip in 2018 many analysts and forecast agencies have been quite bullish on the cryptocurrency future. We have heard pretty much negative opinions on Bitcoin and Blockchain as concepts. The number of skeptics has risen tremendously. On top of that, the tech giants as Google, Twitter, Facebook are considering prohibition of ICO (Initial Coin Offering), Bitcoin and Cryptocurrencies. This trend started for the advertising services only, but things might go further any moment. Thus, Bitcoin price has dipped from great $20,000 in December 2017 to horrible $6,500 by April 2018.
SOURCE: http://btczilla.com/bitcoin/bitcoin-price-2018/
Bitcoin Price History
Taking into account all arguments above, it is true statement that Bitcoin has faced one of the worst crash ever. Speaking in figures:
Also in 2013 Bitcoin fell 70%
Aug 2016 Bitcoin fell 40%
Jun 2017 Bitcoin fell 40%
Sep 2017 Bitcoin fell 40%
Apr 2017 Bitcoin fell 35%
Nov 2017 Bitcoin fell 30%
Apr 2018 Bitcoin fell 65%
Of course, current Bitcoin fall is the nightmare for everyone who bought the coin on the 2017 peak. But on the other hand, this is not the End of the world. For instance, so called DOT COM bubble has seen 80% dip back in 2002 (according to the data in Investopedia).
Predictions for Bitcoin Price in 2018
Recently this April, Bitcoin price has seen the rise up to $8,200 for a coin. Since April 2018 optimism grows in the Bitcoin community. A bitcoin investor, Tom Lee is sure to see Bitcoin at the $25,000 mark by the end of the year. The expert believes that BTC will rise up to $125,000 by 2022. Fundstrat Global Advisors reports that, Bitcoin will come up to a great comeback and will recover at about $25,000 in December 2018. The Bitcoin community is quite positive on the bitcoin recovery in general. Most traders expect the new Bitcoin highs by July 2018. Thus, in most cases experts and agencies agree on $25,000 price for a Bitcoin in 2018. Actually, nothing new about it, because we have seen the rising Bitcoin every summer-autumn season from year to year. The question is, at what level BTC will stop this December.
Best Highlights on Bitcoin Price in 2018
To predict Bitcoin price is a challenge. The cryptocurrency is ultra volatile and so many factors (Google Ban Crypto Ads , for instance) influence over its price, that the prediction becomes impossible. On the other hand, we can analyze what most experts think on the price trends. So, let us list the best highlights from crypto investors and agencies and thus find the answer on the question.
John McAfee, Bitcoin backer and founder of the popular McAfee antivirus software, is being very positive about Bitcoin price. McAfee stated that Bitcoin price will hit $1 million by 2020 following last year’s prediction of $7000 which was well surpassed.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
Kristjan Dekleva believes in 10 hard years for Bitcoin currecny.
The Swiss-based financial expert will have us cheer up for a decade of hard times and ultra volatility before any hope for a stable bitcoin. By this, he assumes that the world economy will coincide with a general acceptance of Bitcoin (even in the regulated Chinese market). However, Kristjan Dekleva does not suggest that Bitcoin will replace fiat currency, but will be its alternative. Also, Mr. Dekleva says:
“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.
Tim Draper sees Bitcoin as a future for the world economy.
Another one standing out opinion comes from a venture business giant, Tim Draper. He states that fiat money is already our past and bitcoin end up as the world money. In 2014 Tim Draper already predicted the $10,000 price for a Bitcoin in the next 3 years. This prediction was fulfilled and Mr. Draper earned reputation among crypto and bitcoin fans. Last year in the Bloomberg interview Tim Draper stated that he expected Bitcoin to grow more and more. Before, Tim Draper was successful in predictions regarding Tesla, Twitter and Skype.
Bitcoin Price 2018: In Summary
It is difficult and almost impossible to predict Bitcoin price in 2018, due to the enormous number of factors and unstable market of crypto. But on the other hand, we can state that Bitcoin has its historical seasonal highs and dips from a year to a year. Also, the most common opinion among experts concludes that Bitcoin will keep rising in 2018 as well. Considering the previous high at about $20,000 and the current price at about $8,000 in April 2018, we can conclude that Bitcoin will more likely hit $25,000 mark by December 2018.