Will Bitcoin Reach $100,000 This Year?
The question that has been doing the rounds recently in the cryptocurrency world is whether or not Bitcoin will reach $100,000 this year. An analyst from Saxo bank claims that Bitcoin is set to reach the $100,000 mark in 2018 and the most famous virtual currency in the world is set to increase its market value by a factor of 10.
In 2016, the estimate was that Bitcoin would peak at $2000 in 2017, which was proven right. Bitcoin left this valuation in the dust by May when it stormed past the $2000 figure and peaked the year at $20,000 by the end of 2017. With the launch of Bitcoin futures exchanges that allows investors to bet on its price movement in the market, it can only be a sign of potential growth in the near future.
If the foray in the futures market proves as successful as expected, the path for cryptocurrencies to go main stream would seem much smoother than it is currently. Bitcoin has undergone a proper correction the recent past pulling back as much as 50%, which investors and finance gurus see as a healthy sign. However, the full effects of the futures contracts are still largely unknown.
According to an analyst from Saxo bank, it is possible for Bitcoin to re-rate itself at a higher price point and build a new and higher foundation of sorts before re-rating at an even higher price. This year has already seen Bitcoin falling steeply in price triggered by the market fears of an upcoming cryptocurrency clampdown. The general view towards Bitcoin is largely circumspect with Bundesbank in Germany calling for a global regulation of Bitcoin while the Finance Minister of France has been canvassing for tougher regulations and rules to monitor cryptocurrencies.
That said, not everyone is enthusiastic about the future of Bitcoin in particular or cryptocurrencies in general. World famous investor and US billionaire, Warren Buffet has completely taken down any investing in cryptocurrencies. He warns that the boom in the cryptocurrency market, generated largely by Bitcoin, is set for an ugly finish. The chief executive of JP Morgan is of the view that Bitcoin is a fraud.
I hope it will..but i would like more if Steem reaches 100 dollars this year. :)
@macbaren I think that if you look at the trend, 300% annually is what you could expect over a long period of time (just an observation, not financial advice...). So it may pump to $100k, but then drop back to $18k. The key is that the averages will, in my opinion, equal 300% annually for HODLers (barring some drastic event).
I wish we could get a more conclusive insight on the many issues surrounding bitcoin on whether it is going to crash or stand the test of time.
To the question in your title, my Magic 8-Ball says:
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haha. i think is $1M
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