Bitcoin Price prediction for this year is taking a hit as experts scrap them down. Is BTC even going to hit $10,000 by this year-end and what about this month end?
From 100k to 10k, Bitcoin Price Prediction take a Hit
Bitcoin hitting almost $20,000 last year raised the hopes of enthusiasts, investors, and experts alike. This caused the experts to call for a bold Bitcoin prediction with some going as a 10 percent rise by this year-end.
2018 end has been predicted by the experts to hit $100,000 by Kay Van-Petersen, $25,000 as per Fundstrat Global Advisors, and $20,000 by Pantera Capital among others.
With a number of giants from Wall Street have jumped into the crypto market, a lot of positive news and developments are also surrounding the market right now. However, looks like this year just might not see the leading cryptocurrency skyrocketing to new highs according to experts.
According to the latest report by Finder, the highest value for Bitcoin has been predicted by Cofounder at Satoshi School Joerg Molt at $9,000 for 1 November 2018 and $20,000 for 31, December 2018. He states,
“We saw several bull runs stopped by futures contracts, but also the ask growing rapidly through economic crises. The ETF will be denied and losses from futures will be even higher, but it won’t stop bitcoin from growing fast.”
Bears Calling Out, Mild Movement Ahead
The majority of Finder’s panelists see BTC to be valued around $10,000 level by the year-end as one Panelist says, “…bitcoin will continue to stay between $6K and $8K for at least the next six months.”
According to one panelist, “…bullish in the short to medium term, but would be surprised if it reaches $25K, like some investors are suggesting,”
“…the SEC will likely create drama in this space for the next several months,” shares another of the panelist.
The lowest or most conservative prediction has been given by Fred Schebesta, the co-founder and CEO of Finder, at $6,200 by 1 November 2018 and $5,200 by this year-end. He states,
“I think BTC could potentially hit bigger figures by the year 2020. But for the next year or two, it’ll still be hovering just under the $10K mark. But then again, the end of 2019 is essentially millennia away.”
Meanwhile, Mike Novogratz of Galaxy Digitals has traced back on his $10k prediction from a few days back. As reported by CNBC, $9,000 is the number for Bitcoin this year and to reach $10k BTC needs about 6 more months.
Apparently, startups are required to sell their holdings in order to fund the industry’s burn rate as bear market has dried up the revenue that is putting the price pressure.