The forecast of the bitcoin rate for 2018. What will be the price of BTC / USD?

amity123 (61)in #bitcoin • 7 years ago

What is the forecast for the bitcoin rate at the end of 2017 and in 2018? Probably everyone is trying to predict the change in the bitcoin price. Even the US financial giant Goldman Sachs, who for a long time stayed away from "cryptomania," joined the compilation of forecasts for the most popular crypto currency.

Growth of bitcoin in 2017. Where is the ceiling?

This is consensus forecast for 2017 :- bitcoin will meet resistance in the range of $ 4,500 - $ 4,800, and then continue to grow. To what levels can the price for crypto currency rise? Paul Veradittakit of Pantera Capital Management, Tom Lee of Fundstrat Global Advisors and John Spallanzani of GFI Group Inc. agree that before the end of 2017, the bitcoin rate could rise to $ 6,000. Ronnie Moas from Standpoint Research believes that the rate will continue to grow to $ 7,500 in 2018.

The price of bitcoin in 2017 grew more than 3-fold. In August, the rate reached a historic high of $ 4477. Since then, the CY's has been adjusted downward by 7%, since the market has long demonstrated a strong overbought, and many investors preferred to fix the profit. Analysts believe that growth will inevitably continue in the near future - the scope of bitcoin expands, the interest of institutional investors is growing, new regulatory steps are being taken to facilitate the use of bitcoin in everyday life. "Now the market is crypto-healthy," believes Veradittakit of Pantera Capital.

The fund has invested in bitcoin since 2014. "Interest from a wide range of traders and investors to the crypto currency is growing. When these market participants finally decide to make the first investment in the crypto currency, they will buy bitcoin. This is the most liquid currency with a strong brand.

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According to the forecast of Veradittakit, bitcoin will fluctuate around the current levels in September and October. In November, the analyst believes, the rate will make a new breakthrough, as the technology is expected to improve in November, the block size will be doubled to two megabytes, which will increase the speed of transactions.

The collapse of bitcoin. To what levels will the price drop?

However, the way up can be stony. On August 13, technical analyst Goldman Sachs, Sheba Jafari, wrote in a research note to customers that bitcoin could fall 40% after reaching a key resistance at $ 4,827. John Spallanzani, a leading macro strategist at GFI Group Inc., also predicts a drop in the bitcoin rate to $ 3000, if there is no breakdown above the August resistance at around $ 4,500. However, in 2018, the price will recover and will grow steadily to the level of $ 10,000, Spallanzani believes. "The market will need a pretty deep correction to get fuel for a new, long-lasting spiral of growth,Spallanzani asserts. He recommends buying bitcoins, when after the rollback the price will return above $ 3,800.

Prospects of bitcoin in the coming future

Some experts prefer not to make price forecasts, but they can not refrain from philosophical reflections on bitcoin. So, Tom Price, a strategist at Morgan Stanley, compares bitcoin with gold. Nevertheless, it takes a long time for investors to believe in long-term attractiveness of bitcoin, the expert is sure. In this case, the crypto currency can become even more popular than gold. Strategists at Bank of America Merrill Lynch believe that at the moment, crypto currencies are too volatile, but things can change when their value and liquidity grow. Over time, crypto-currencies can be an interesting tool for portfolio diversification, as their correlation with traditional assets is close to zero.