Bitcoin headed to $100,000 in 2018, says analyst who predicted last year’s price rise.
• Bitcoin could hit $100,000 in 2018.
• Bitcoin will actually be driven by a larger uptake of institutional investors and futures contracts.
Bitcoin price prediction 2018
The values of Bitcoin, Ripple, and other cryptocurrencies have no doubt been crashing lately, but one analyst is, of course, predicting a huge rise ahead for Bitcoin—with a forecast for it to reach as high as $100,000 in 2018.
Bitcoin went on to increase from around $900 to $18,000 in the course of the year in 2017.
Why Is Bitcoin Price Changing So Fast?
In 2017, Bitcoin’s value had soared from $1,000 to just under $20,000 before coming down to around $13,000 at the end of the year. The value of Bitcoin has risen and dropped sporadically.
Reasons for Price Changes in Bitcoin: Popularity and Regulations
Firstly, the owners have less power over the respective price of Bitcoin. Secondly, the government regulation could help. Thirdly, more stability can be created. Speculation can also be checked as well as the drastic fall in value.
How high can Bitcoin go in 2018?
It is expected that cryptocurrency price will indeed rise despite fears of collapse. Bitcoin has indeed been acknowledging as the top-performing currency all across the world in the past six to seven years.
The price of Bitcoin will go up again.
Despite the fall and fears, the bitcoin bubble has indeed burst, crypto investors do suggest cryptocurrencies could surge.
The drop in price does benefit the industry, as the investors and cryptocurrency enthusiasts will be more encouraged to familiarize themselves with space. Naturally, if more people are educated the fear of price dropping is reduced. As people become more educated it will, in turn, limit fear surrounding further price drops, as this is the nature of the volatile cryptocurrency market.
It is expected that Bitcoin will break the $100,000 mark this year. It is expected that Bitcoin price will hit $1 million by 2020 following of course last year’s prediction of $7000 which was indeed well surpassed.