Bitcoin rallies to $10,000, beating naysayers and even the best forecasts out there. So what’s next for the world’s best cryptocurrency? Let’s now see what are the new bitcoin forecasts for 2018.
Bitcoin Forecast 2018
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For Fundstrat’s Thomas Lee, bitcoin will hit $11,500 in the middle of 2018. This was an analysis he made just as bitcoin went above $8,000 late this November.
“We recommend steady buying of Bitcoin at these levels” – Thomas Lee
Stock Analyst Ronnie Moas thinks bitcoin will hit the $14,000 mark in 2018. He raised his projection from the initial $11,000 to 14,000. He mentioned late October this year:
People need to start taking this seriously because today bitcoin caught up with Goldman Sachs. Within five years, it’s going to catch Apple which has (a more than) $800 billion market cap.
But this time, he thought whatever hindrances bitcoin had, had disappeared already. He also said that the good news might not be finished yet with the $10,000 value tag.
“There have been many positive developments during the last five months and a few of the obstacles that were in Bitcoin’s way have been knocked down, an argument can be made that the good news is still not fully reflected in the current price.”
Hedge Fund Manager Michael Novogratz believed bitcoin will reach $40,000 by 2018.
Bitcoin could be at $40,000 at the end of 2018. It easily could. Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well.
Novogratz though this is because of the big wave of money being poured into cryptocurrency right now. And with ICOs, which are unregulated, just about anyone can invest in digital coins. Previously, Novogratz mentioned bitcoin will reach $10,000 by the end of 2017. And look’s like he’s right.
The latest bitcoin rally has put the virtual currency above $10,000. The Bitpinas Bitcoin Price Chart, as of press time, pegs bitcoin at 1BTC = $10,648. The equivalent of which is Php 550,000. The market cap for bitcoin is now at $480 billion. The whole cryptocurrency market cap is now at $328 Billion with bitcoin’s dominance over other digital coins by 54%.
Are Forecasts Real?
Predictions in the stock market are often based on mathematical probabilities and statistics that researchers and brokers do. With bitcoin and cryptocurrencies, however, the markets are too volatile. Bitcoin is traded 24/7. As mentioned in our previous article, we should not treat forecasts as the absolute truth. They are just that – predictions. You still need to do your own research before investing in bitcoin or investing in cryptocurrencies in general. Never treat any forecast as absolute investment advises because the persons we mentioned above won’t be liable if you lose money. And as we always mention here at Bitpinas, only invest what you can afford to lose!