Bitcoin Price Predictions for 2018: Part 1
I want to look into what some of the industry experts have been predicting for the price of Bitcoin in the next 1 to 10 years.
Let’s take a look at not only the prices they are saying, but also the indications and justifications for these predictions.
Before we dive right in, I want to mention that there is one very important factor that exists now which wasn’t an issue when many of these predictions were made.
That is, the influence of the CME over the markets now.
The futures trading happening now has opened the door for market manipulation that just didn’t exist before. This is also why I think we’ll find that many of the BTC predictions that have been made in the past have turned out to be a bit inaccurate so far this year.
Regardless, the principles for these predictions are really important to be mindful of and I think will still have an effect on the future price of Bitcoin.
VIEW VIDEO HERE^^^^^
First I want to take a look at Tim Draper.
He is a venture capitalist who created the Draper Associates which eventually merged with others to become DFJ.
He also is the one to blame for the creation of viral marketing. So you can say that he understands the psychology of markets.
He’s also been a heavy investor for a lot of blockchain startups like Factom.
Back in 2014 Tim had predicted BTC’s price to hit $10,000 by 2018.
More recently he’s been predicting that Bitcoin will hit the $100,000 mark.This could happen if a majority of the fiat market moves to cryptocurrencies.
His belief in the future of Bitcoin is solidified in its characteristics of being borderless, with a set supply matched with the demand from the free market.
Next up is Tom Lee
I wanted to explore his thoughts on Bitcoin since he is usually bearish on investments.
He is a managing partner at the financial research company Fundstrat, and about a month ago when the over all morale of those in the crypto market pretty closely reflected the dropping of price of that market, Tom was recognizing how the decisions of big international companies could change things around.
Companies like Starbucks, Amazon and Rakuten all have expressed interest in exploring how digital currencies and blockchain tech can be a part of their business models in the new future. With heavy hitters like these potentially adopting cryptocurrencies and blockchain tech, they’d bring with them a major increase of users as well.
Tom says that we could be seeing $20,000 bitcoin by the middle of this year and $25,000 bitcoin by the end of 2018. Last July he also predicted that Bitcoin could go to $55,000 by 2022.
Now for Ronnie Moas
He’s the founder of Standpoint Research and has established himself as a credible and accurate analyst. That being said, it also important to note that he has always been very bullish for the price of Bitcoin, even to the point of denying a long term retracement.
He’s thrown out pretty big numbers for Bitcoin at different stages of its existence. He sees Bitcoin “ending up” at around $300,000-$400,000 per coin.
He justifies this by the fact that there is 200 trillion dollars invested in stocks, bonds, gold and cash, all of which are over valued. If only 2% of this money is moved into cryptocurrencies, this would bring the total market cap for cryptocurrencies to 4 trillion dollars.
Also, the global rate of adoption for cryptocurrency wallets has been about 1-2 million people. In a few years from now, this may result in a few hundred million people trying to get a hold of a few million Bitcoin. He also makes a point the clarify that about a quarter of the current supply of Bitcoin has already been lost forever, not to mention the fact that there are some hardcore holders who will never sell. His target for 2018 is $28,000.
Heidi, you rock. Thanks so much for bringing your optimistic smile to all of these discussions. :)
Not sure if you saw it, but more than a week ago I posted about why I love surfers and it reminded me again where your optimism comes from. The waves are abundant and continually flowing! Speaking of surfers, check out @intrepidsurfer who has some cool projects going on regarding reforestation in Peru. Really cool stuff.
Surfers reminds me of when I lived in Hawaii. Beautiful. Priceless. Optimism floats.
Hi Heidi !
Thanks a lot for your videos as always. Really cool.
Somehow I do not really give a shit about those price predictions because somehow most of the time they are completely off their target and for me at least it does not matter for the short term anyway. Ask me in 2050 for the price again please. 😅👍
Hi wow thanks a lot for your upvotes. I really appreciate that. Thanks.
Super helpful. Haven’t heard from Novogratz in a while. Wondering where he stands right now.
Thank you for this post I look forward to part 2. Tom Lee has invented the Bitcoin Misery Index which currently stands at 28 which is in 'misery' territory. Tom Lee has pointed that on every occasion Bitcoin has been in misery territory it has rebounded back into a bull market within 12 months.
We have also to look at other factors driving crypto towards mass adoption. The millennial generation in America, which is by far the biggest generation numerically, is driving the crypto market there.
Numerous reports have come out suggesting that up to a quarter of students are using their student loans to buy crypto.
Tom Lee has identified that one third of Millennials (about 30 million people), who have little trust in banks after the 2008 financial crash, are entering their peak earnings period meaning that they will have up to $1 trillion a year for investment purposes. Only a small portion of that has to go into crypto to drive up the markets.
One last issue. The global economy is on the edge of a massive financial precipice. The current volatility in stock and bond markets has been driven by the spike in 3 month Libor rates. See the chart below from the Fed for the period from January to March of this year. Morgan Stanley and the New York Times have warned about the dangers of this spike in the cost of private borrowing for banks and corporations.
If the Fed and other central banks keep raising interest rates this will push the global economy over the edge into a new recession which is long overdue anyway. In this situation as investors scramble to get out of the stock and bond markets then many will consider putting capital into crypto as part of a strategy to diversify their risk.
And that is good. May fiat jump off and die as Bitcoin continues in rising.
Based on logarithmic patterns I believe all of these are in the realm of possibility. Patience pays with Crypto considering the bulk of the move will likely happen over a course of about 30 days this year or next lol
Bringin' back "to da moon!!"
Love it.
I see you started with the "conservative" ones ;)
Looking forward to tomorrow! If I remember correctly, they all have even more enthusiastic predictions.
its fiat value means nothing , also you can not predict geopolitical events that could cause it to spike
I saw this presentation by Tom Lee a while ago in which he kind of discusses the economics of cryptocurrencies. Towards the end of the presentation he makes some quite interesting price predictions for bitcoin based on research done by Fundstrat. Thought provoking to say the least!
Thanks @heiditravels for letting us hear the voice of industry experts at a time where some have their confidence shaken. We need more of these messages.
Those who bought into cryptocurrencies when Bitcoin was at an all-time high is surely going to feel the pinch in this bear market -
but as your research shows, there is hope. (':