Bitcoin predictions: The Price of Bitcoin Could Still Grow to $50,000 this Year
The price of bitcoin could still experience a huge growth this year, despite the decrease registered by the cryptocurrency in the past few weeks. According to some market analysts, the price of the cryptocurrency could still hit $50,000 this year.
Cryptocurrency market to reach $1 trillion by the end of 2018
So, not only that the price of bitcoin could suffer a high growth, but the cryptocurrency market could also reach an impressive value, up to $1 trillion by the end of 2018. The prediction was made by experts according to CNBC.
The time when these predictions are being made is quite curious, as the price of bitcoin has suffered once again a fall, this time registering a record low for 2018, dropping below $6,000. This was the lowest value of the bitcoin since mid-November. Of course, the famous digital currency managed to regain some ground and its price grew to $7,000 yesterday, while today it managed to go a bit over $8,000.
However, it seems that market experts don't believe that bitcoin will be impacted on the long term by price drops. Thomas Glucksmann, an executive of cryptocurrency exchange Gatecoin, said:
“Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capital and major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year. There is no reason why we couldn’t see bitcoin pushing $50,000 by December.”
Another market expert claimed that after the month of February, the price of cryptocurrencies will be on a continuous growing trend. The CEO of Outliner Ventures, Jamie Burke, said:
“We believe after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals.”
Of course, these are not the first such predictions regarding a high growth when it comes to the price of bitcoin. It remains to be seen if these predictions will be confirmed.
