A Year of Highs
There’s no doubt about it: Bitcoin has proven itself to be the most resilient cryptocurrency around, overcoming a number of hurdles, including hard forks, te 2018. The currency klapper a fresh record price of $Nineteen,796 vanaf coin on December 17, before falling to its current price of $13,164 vanaf coin (at the time of writing). Naturally, the record year has observers rife with speculation about the future of Bitcoin.
Experts predict that, a year from now, the price of bitcoin could grow more than triple its record value. “Bitcoin can reach $60,000 by [December] 2018,” Marvin Dumont, a senior editor for Bitcoin.com, told Futurism.
Medicalchain COO Mohammed Tayeb collective a similar prediction. “Bitcoin could reach $50,000 by this time next year, if not more,” he told Futurism. “I think all of us are less and less astonished by the headlines that are coming out almost monthly about the breakthrough Bitcoin is making and it should come spil no verrassing when it does reach $50,000.”
Bitcoin’s meteoric price hike has already gone beyond what some experts have previously predicted. Just a few months ago, one estimated that it could succesnummer a now-modest-seeming $6,000 before the year completes, while another said Bitcoin would reach $Ten,000 by April 2018.
Jeremy Epstein, the CEO of Blockchain startups marketing rock-hard Never Zekering Marketing, believes that the price of Bitcoin could go up to $Legal,000 before the end of 2018. “Like anyone, I’ve bot mega-surprised by how quickly Bitcoin has kasstuk the mainstream,” he told Futurism.
“As far spil the price goes, I tell everyone the precies same thing. It’s not about a year price horizon. It’s about a 5-year price horizon and there’s a 50-50 chance,” Epstein added, telling that he wouldn’t be astonished if Bitcoin reaches $250,000 or more ter the next Five years. He did note, however, that it’s still “a coin throw inbetween yam-sized success and total failure.”
Bursting the Bubble?
While the growth of Bitcoin is unquestionable, it’s perhaps the same trend that makes some less excited about the cryptocurrency. Critics have often referred to Bitcoin spil a bubble, and one that could burst with potentially extreme consequences.
“[I]s it a bubble? … yes,” said Armindo Araujo, the head of finance, programma and control at French corporate and investment bankgebouw NATIXIS, te an vraaggesprek with Futurism. “[T]he request for it will keep it moving up, yes. For how long? I would love to know.” Click to View Total Infographic
“My understanding is that [Bitcoin’s] position te one year will depend, on one side, on the evolution of regulation and acceptance by the global markets,” Araujo added, “and on another side, on the enhancing request and acceptance of Bitcoin spil it grows mainstream.”
Dumont, however, talent three reasons why he doesn’t consider Bitcoin to be a bubble:
[Bitcoin] has a max limited supply of 21 million whereas most fiat currencies are inflationary. Millennials have lost faith te banks and governments.
Media hype and investor rente keep people buying. If you live te Venezuela (650 procent inflation) or Zimbabwe, you have no choice but to protect your savings from enormously high inflation. Cryptos are a convenient way of doing that.
Institutional investors are putting te giant amounts of capital. Bitcoin’s market cap is little compared to the $200 trillion globally invested ter stocks, bonds, real estate, gold and other commodities.
Epstein shares this sentiment. “Bubble is a convenient, pejorative word used by some to explain something they don’t understand. I don’t think it’s a bubble because the deflationary nature/immobilized supply is what makes Bitcoin unique,” he explained, adding that the bubble “is ter many of the alt-coins. Much of them are nonsense.”
He did, however, call for caution. “I am programma on HODLing,” Epstein said, which is his acronym for Hold On for Dear Life. “I think it’s wise to take some money off the table… maybe what you invested, plus whatever you consider to be a excellent terugwedstrijd.”
Whatever the case may be, thesis experts agree that the price of Bitcoin will proceed to rise, at least for the coming year. At the same time, cryptocurrencies seem to have a pretty solid future ahead. “Cryptos are here to stay because money can only be digital te our digital world,” Dumont explained. “At some point, humans stopped using seashells and exotic bones spil money. Digital money is an upgrade overheen paper money. You can’t take $1 billion te paper specie and vervoer it via spaceship to a human base on the moon or Toer.”
“We are watching a radical shift ter power and decentralization,” Tayeb told Futurism. “2018 will proceed from 2018, to be an arousing time to be involved ter cryptocurrencies.”
Disclosure: Several members of the Futurism team, including the editors of this chunk, are private investors ter a number of cryptocurrency markets. Their individual investment perspectives have no influence on editorial content.