Bitcoin to reach 6 thousand dollars in 2018
Analysts estimate that the Cryptomoneda will hold a time more around the 4 thousand 500 dollars but in the course of the year could its price could mark new records.
Even skeptics can not avoid bitcoins. It seems that everyone has a price forecast these days, and even some of the biggest banks, such as Goldman Sachs, have joined the action, while long-time speculators and investors also make their bets.
The consensus is that the largest cryptomoneda will face some resistance around $ 4,500, to 4,800 and a correction, to then continue to rise. How high? Paul Veradittakit, of Pantera Capital Management; Tom Lee of Fundstrat Global Advisors; And John Spallanzani of the GFI Group estimate that it will reach $ 6,000 by the end of the year.
Ronnie Moas of Standpoint Research says it will continue to rise to $ 7,500 in 2018.
Bitcoin has skyrocketed this year and its value has more than tripled, after breaking the $ 4,000 mark and reaching a record $ 4,447 last week. Since then, it has retreated 7 percent from the high, as investors take profits and evaluate whether the rise has gone too far.
The growing adoption and interest of institutional investors, the agreement on a mechanism to accelerate transactions and regulatory measures that will help the asset expand its reach are some of the reasons for the upswing.
"We are in a very healthy position right now," said Veradittakit, vice president of Pantera Capital, which has invested in bitcoins since 2014.
"There is a lot of interest from operators and major financial institutions in the rise of all these new criptomonedas, but when they get exposure for the first time in space, they will enter bitcoin," he added.
But the road may have obstacles. Goldman Sachs technical analyst Sheba Jafari wrote in a note to customers on August 13 that bitcoin could erase about 40 percent of its value, after reaching $ 4,827.
Spallanzani, head of macro strategy at GFI Group, also predicts a significant drop to $ 3,000 unless he can break the $ 4,500 level he tested last week.
The expert recommends buying bitcoins when they are above $ 3,800 and sell when they are below that level. Analysts expect the criptomoneda to face a resistance around $ 4,500, but then rebound.
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Fingers crossed that it reaches that target.