Bitcoin Price Prediction for 2017
Contrary to my co-founders at Zebpay, I love to predict and I love to publish my predictions.
As per statistics, I have a 50% chance of being right. The best thing about predictions are that if you are right, you can republish that post with the comment “I told ya”. If you are wrong, well…
Image source: CoinTelegraph
For 2017, I wanted to predict that bitcoin price will touch an all time high. Which it already did in the first week of January so that doesn’t count.
I believe all the fundamentals due to which bitcoins’ price has rallied till today are stronger than ever before. There are valid concerns whether the bitcoin community will be able to solve the scaling debate. I am an optimist by nature and so I hope and believe that we will see SegWit by the second half of 2017, followed by Lightning network. This will be a massive upgrade of the bitcoin network.
My fears about global financial conditions remains as serious as ever. I believe there is no easy way out of the current financial situation that the world is in. The situation of expanding money supply, low interest rates and the cycle of asset price bubbles continues to get worse. And no matter how good the intentions are, governments have no easy solutions.
The only risks are regulatory actions. More than risks, I believe they are speed bumps.
The growing adoption of bitcoins and the growing issues of the global economy means that I predict that bitcoin will continue to increase in value in 2017.
I predict bitcoin prices in the range of $2,500 to $3,500 by the end of 2017. We’ll see whether I get a chance to repost this at the end of the year or no :).
Disclaimer: Bitcoin is a technology in beta. There are significant regulatory and technological challenges that bitcoin can face. No one should invest more than they can afford to lose.