Bitcoin price to hit $100,000 in next 12 months

BITCOIN could top £100,000-per-unit by the end of 2018, some financial experts are predicting.After a remarkable year for so-called cryptocurrencies, and countless warnings the bubble was about to burst, the market seemingly remains robust.

Newer cryptos like Etherium, Litecoin and XRP/Ripple are threatening bitcoin’s previous dominance but mountains of cash continue to be invested in the entire sector.

In 2017 bitcoin has seen a 400 per cent increase, breaching the $20,000 mark – however, in the days before Christmas the currency saw a dramatic ‘correction’ and was trading at below $14,000.

However, the Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME) both launched its bitcoin futures contract in December.Some financial power brokers have decided enough is enough.

Jamie Dimon, CEO of JP Morgan Chase even labelled it a “fraud” however his words have largely gone unheeded.

Less charitable bitcoin enthusiasts even believe critics are simply jealous as they are not involved in bitcoin and so are negative towards the cryptocurrency.

Kerim Derhalli, CEO of investment app Invstr, holds this opinion.
He said: “bitcoin is the next logical stage of the information revolution. This time a year ago it was worth under a $1,000. I predict next year it could hit the $50,000 to $100,000 mark.”

Others also believe bitcoin could reach similar levels next year as Olga Feldmeier, CEO of Smart Valor said: “it can easily go to $100,000 by the end of the next year and possibly even beyond.”

There is no doubt that bitcoin has scared the financial establishment.

Mr Derhalli added: “bitcoin is something that has gone against the established government system and seems to be winning.”

Eric Benz, managing partner of CryptoFriend, a group of crypto professionals said: “We have seen an incredible growth in all things blockchain and Crypto for the past five years now. The crypto revolution is seriously hitting its stride and there is simply no predicting just how big this emerging industry and ecosystem will be.