Price volatility is the most integral factor of the bitcoin. This popular cryptocurrency is prone to sudden and sharp dips and surges. In December 2017, bitcoin was riding at $1,000 that flew high and hit the peak of $20,000 level in mid-December and then dropped down to $13,000 at the end of the year. In 2018, bitcoin took a lot of twists and turns and is right now at $8,109.
The entire crypto market has experienced the similar fate of sporadic fall and rises on a day to day basis. However, in spite of bitcoin having a bullish run in the Quarter 1 of 2018, experts believe bitcoin is going to experience a great bull run and reach the heights.
The top 5 bitcoin price prediction soaring to a new level:
BTC = $1 Million by December 2020 – John McAfee
The Cybersecurity pioneer, John McAfee has raised the bet on his bitcoin price to $1 million by the end of December 2020 with a tweet:
“When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my dick if wrong.”
This prediction surely has the bitcoin enthusiasts and skeptics praying for it to be true.
BTC = $250,000 by 2022 – Tim Draper
Another bullish prediction has been made by the investment tycoon, Tim Draper.
“I’m thinking $250,000 a Bitcoin by 2022. Believe it, it’s going to happen – they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!”
Brian Kelly, the CNBC host also predicted the $250k price value for bitcoin by 2022.
BTC = $100,000 by December 2018, Kay Van-Petersen
Kay Van-Petersen is a strategist at Saxo Bank who predicted the bitcoin prices to rise between $50,000 and $100,000 by the end of this year.
In December 2016, Van-Petersen predicted the BTC prices to reach about $2,000 level in 2017 which took a surge of more than 100 percent and reached $20,000.
BTC = $25,000 by December, 2018 – Tom Lee
The Wall Street advisor, Tom Lee forecasted the bitcoin prices to reach $25,000 by the time the year ends. Lee believes that as the bear market loosens its grip, the bitcoin prices will reach $25k before 2019 and further put his 2022 bitcoin price prediction at $125,000 level.
BTC = $20,000 by December 2018 – Pantera Capital
The CEO of the investment firm, Dan Morehead predicts BTC prices to reach $20,000 in 2018 while saying he “rarely had such strong conviction on timing”.
It’s not the first time that the experts are predicting the price of Bitcoin. In 2014, the bitcoin prices were lower than $320 which investors correctly predicted to go above $10,000 in 2017.
Events supporting the price surge prediction in 2018
BTC has been going through a rough patch lately, though it’s not anything out of the ordinary. Just last week bitcoin was around $6,500 level that took a hit this week and reached above $8,000 mark.
Though there is no clarity on what caused this surge in BTC prices, one of the factors is the US tax season coming to an end which last week was one of the factors for the heavy trading of bitcoin.
For a long time, there has been a lot of confusion surrounding government’s stance on bitcoin. Though it isn’t crystal clear yet, governments around the world are defining their rules for bitcoin and making it easy for crypto investors and exchanges to accordingly make their decisions.
Another factor that has a probable effect is the upcoming Coindesk’s Consensus event coming on May 14 that will be hosting big industry names. So, it is a possibility that the crypto market would see the bitcoin price prediction by these experts become a reality.
Which bitcoin price prediction do you think has more chances to be realized? Will bitcoin hit $ 20k again in 2018?