Blockchain recruiter Bitcoin Price Trends
Satoshi Nakamoto has come up with the complex description of the Distributed Ledger Technology (DLT) back in 2009. Since that time, the world has been paying close attention to his creation, with 2017 being the peak year of the crypto interest. While there are those who were fascinated and attracted to Blockchain and Bitcoin, there are just as many Bitcoin critics in the world.
Here in the Blockchain Recruiter London team, regardless of what either of those groups thinks, Bitcoin is still alive and, in fact, thriving. Moreover, many cryptocurrency enthusiasts are quite sure that cryptocurrency is here to stay. This view is supported by numerous cases of the governmental organizations slowly adopting this nascent technology.
As of the moment of writing, the price of one Bitcoin is on the slide
But where does Bitcoin price go from now on? That’s exactly what we will discuss here – top future bitcoin price predictions.
Blockchain recruiter: Top Bitcoin Price Predictions
Earlier last year in December, Bitcoin price has jumped to the all-time high level at around $20,000. As you might notice, this cryptocurrency is very volatile, as its value might skyrocket one day and drop the other. There are numerous factors that affect Bitcoin’s performance, with most of them being fundamental.
In fact, many cryptocurrency traders attempt to predict the price of Bitcoin by means of technical analysis. Yet, it might not be that effective if we talk about the long-term outlook. For this purpose, we will take into account several factors that might have an impact on the price action of the cryptocurrency-pioneer. These include:
- Blockchain adoption
- Competition levels
- Regulation clarity
- Bitcoin ETFs Approval
- Bitcoin futures development
Now, with these factors in mind, let’s move on to discuss the top 2018 Bitcoin price predictions.
- Bitcoin to Hit $100,000?
While the initial Bitcoin price prediction was that the BTC will reach $14,000 by the end of this year, the recent market developments signal the possibility of the cryptocurrency hitting much higher than that. Bitcoin supporters are hoping that the cryptocurrency will get a kick from the possible positive decision of the US regulatory bodies in regards to the launch of Bitcoin exchange-traded funds.
The US Securities and Exchange Commission has rejected 9 Bitcoin ETFs earlier this months. However, the following day, the watchdog has stated it wants to review its decision, thus giving hope to the cryptocurrency community.
Now, let’s look at this Bitcoin price prediction from the market capitalization perspective. It is quite difficult to say for sure that Bitcoin can reach $100,000 considering the fact that we have almost entered September. Market capitalization should stand at $1 trillion just for Bitcoin in order to reach $60,000. As of the moment, the entire market cap of the cryptocurrency market is at $226 billion.
Aside from this calculation, Bitcoin still has a lot of room for growth, which should appear with a wider adoption rate.
- Bullish Jonh McAfee’s View – $1 million by 2020
John McAfee is known as one of the most controversial figures in the cryptocurrency market. Notably, he has also been the candidate for the US President once. Mr. McAfee has earlier stated that Bitcoin has all the chances to grow to $5,000 in 2017 and then to $500,000 by 2020.
Yet, shortly after his first prediction, Mr. McAfee has doubled his forecast for 2020, stating that BTC will reach $1 million by that time.
- Another Bitcoin bull, Michael Novogratz: $40,000 Bitcoin price
Bitcoin supporter Michael Novogratz has stated that his outlook for Bitcoin price at the end of 2018 stands at $40,000. He has based his outlook on the belief that Bitcoin adoption rates will rise and consequently, Bitcoin futures market will develop. However, he also believes that cryptocurrency might see a highly volatile future in the near term. He has been quoted by some online reports as saying:
“There will be wild crashes in it because you’re going to get to levels so far ahead of where the technology’s at. It makes investing really, really exciting, but difficult.”
Blockchain Recruiter London Team: Conclusion
While these top Bitcoin price predictions come from the industry experts and crypto enthusiasts, basing your trading decisions on them is not a good idea. This is taking into consideration the highly volatile and risky nature of Bitcoin and other altcoins. Before investing in some cryptocurrencies, it is always recommended to carry out an extensive research and only invest money that you can afford to lose.
Which one of these Bitcoin price predictions seems most feasible to you? Share with us in the comments.