In 2017, Bitcoin saw its biggest spike in value yet and to this day, this increase in value continues to attract the attention of people from all around the world.
So far, 2018 is shaping up to be a good year for Bitcoin. Optimists believe that Bitcoin will continue to increase in value and that, by the end of the year, its price could reach $50,000 USD or more. On the other side of the fence, the less optimistic believe that the recent frenzy and price increases are only due to speculation and that the Bitcoin “bubble” could burst at any time this year.
So, without further ado, let’s review a few expert opinions on the future of this superstar digital currency in 2018.
Julian Hosp is the co-founder of TenX, a company that specializes in trading cryptocurrency. According to this experienced digital investor, Bitcoin’s value will continue to rise in the coming months and will soon reach about $60,000. However, he calls for caution as he also predicts a decrease in value, much as we witnessed when its value nearly reached $20,000 at the end of 2017.
David Drake, the founder of LDJ Capital is another expert in the field. Relying on the fact that only a certain amount of BTC can be mined each year, he predicted Bitcoin’s value to be around $20,000 USD in 2018. With a limit on the amount of Bitcoin units that can be issued, and the frenzy created recently by the media, Drake believes demand and value will only rise over time.
Ronnie Moas is the founder of Standpoint Research and had also predicted to see Bitcoin at $20,000 USD in 2018. He believes that investors can expect to hear a lot of good news about Bitcoin throughout the year. Due to the CME’s (Chicago Mercantile Exchange) recent adoption of the currency, Moas expects to see an increase in trade volume of Bitcoin.
Mike Novogratz, a wealthy investor and supporter of Bitcoin, says that Bitcoin’s price will continue to climb and will reach $40,000 by the end of the year. He, also, believes that the limit of 21 million units will prevent the market from seeing any possibilities of collapse.
Some of The Pessimists
Saxo Bank does not see a bright future for Bitcoin. They believe that the cryptocurrency will struggle against possible attacks from Russia and China, who could soon be launching their own digital currencies. As a result, these countries could ban the trade of other cryptocurrencies, such as Bitcoin, which could have severe impacts on the market. They also add that after the recent spike in value, by the end of 2018, Bitcoin could fall as low as $1,000 USD.
Shane Chanel is an investment expert at ASR Wealth Advisers. He expects that we could possibly see a crash in 2018. After predicting its value around $15,000 by the end of the year, he added that investors could expect to see a decrease in value over the year.
The Future of the Cryptographic Market
Instead of Bitcoin’s value, there are many experts who are more interested to see what will happen to the entirety of cryptocurrency market.
There are many who believe that 2018 will see a significant increase in the number of cryptocurrency investors. More precisely, Yonatan Sela, from PROPS, expects to see more than 50 million people hold at least one type of digital currency. He hopes to see Bitcoin continue its current trajectory and keep its golden status.
Mark Lurie, from Biddable, believes that over the year, investors will diversify their cryptocurrency portfolios and these investments will then be managed in the same way as more traditional types of investments.
Mike Poudre, CEO of The Crypto Company, predicts that 2018 will see more financial institutions join the cryptographic currency market. He expects that the entire market will reach a cap of $5 trillion by the end of 2018.
Trevor Koverko, from Polymath, believes we will see Bitcoin start to emerge as more of a payment network. He says, “Today, Bitcoin is considered a speculative asset and a type of investment. But over time, we will see more uses of the currency and an overall increase in price.”
And, for Christian Nolting, Director of Investment at Deutsche Bank Wealth Management, he believes that Bitcoin needs more regulation. This is in conjunction with the opinion of many other financial experts and institutions who want to create a legal framework for the cryptocurrency market. As a result, he believes that we could see a succession of new regulations from different countries around the world.