Bitcoin will hit $100,000 this year, says Saxo Bank analyst

Bitcoin will hit $100,000 this year, says Saxo Bank analyst, same analyst who also predicted the rise of bitcoin.
Bitcoin will hit $100,000 in 2018, it was predicted by an analyst who predicted the cryptocurrency's rally at the start of last year.
It was Van-Petersen forecast in December 2016 who predicted that bitcoin will reach $2,000 in 2017. At the time, bitcoin was trading below $900, according to CoinDesk, a website that tracks the price of digital currencies on a number of different exchanges..
Van-Petersen now said that bitcoin could hit between $50,000 and $100,000 in 2018.
This is what he said"First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts,"
To reach $100,000, bitcoin would need to rally over 635 percent from Tuesday's highest price of $13,601.43, according to CoinDesk. Previously, Van-Petersen said that $100,000 could take ten years to hit.
bitcoin has been trading sideways since the start of the year, the Saxo Bank analyst said that bitcoin tends to trade around a certain level then re adjusting the rates
"I wouldn't be surprised if it's something we are seeing. It's kind of building a foundation, then will re-rate a bit higher."
Bitcoin and other coins, including ethereum and ripple, saw a big sell-off on Tuesday, however.
Still, Van-Petersen said that ethereum is likely to outperform bitcoin this year. Isn’t that a good news for etherueum holders ?

"Ethereum came after bitcoin, it has a more unitedleadership than bitcoin," he said that "They seem to be a bit further along the way in regards to forming the solution to scaling issues. And you can see transactions on their side eclipses transactions across other cryptos."