Bitcoin Price Prediction at the End of 2018
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Have you own a bitcoin or any other cryptocurrency? If you have one, then its good for you. If you don't have, this news could convince you to have it this time or if you had already, it will give you the hype.
There are lots of predictions given by the influential persons and financial experts before. I think it was last 2017 which has the most predictions made. That time, bitcoin had a high value maybe because of the positive feedback and prediction that bitcoin could go high up to $1 million per coin which made people buy more coins. Bitcoin rallies up to $20,000 last 2017. But at the start of 2018, bitcoin price go down that had gone to $6,000 and the cryptocurrency market was so volatile. Because of this, stories about prediction went to a separate ways and we could think those predictions will not come.
As far as i know, today is the major comeback of bitcoin since march. It has sustained its 13% increase today and even goes higher. Bitcoin trading is now at its green side (it means going up) and bullish forecast were rolling. Price predictions started to make noise as bitcoin sustained its comeback. The latest prediction this april comes from Thomass Lee. He said bitcoin price will go up to $25,000 at the end of 2018. Imagine if it will come true, this will triple the current price of bitcoin.
Who is Thomas Lee?
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He is the co-founder and head of research of Fundsrat. If you don't know what Fundstrat is, here some info coming from their website:
We are an independent research boutique, providing market strategy and sector research. Our differentiated approach is based on what we call fundamental strategy. That is, our research process combines both top-down strategy and bottoms-up fundamental views, to develop a roadmap of practical and useful investment insights for our clients.
Thomas Lee, Fundstrat’s co-founder and head of research, predicts that the crypto rally will continue and the bitcoin price could trade as high as $25,000 by year-end, according to an interview with CNBC.
Bitcoin price hovering at about $7,839 at the time of writing, that means the No. 1 cryptocurrency could more than triple its value in the coming months, turning one of the most closely watched market downturns into a victory lap. Volume in the past 24-hour period has surpassed USD 8.8 billion, which based on Coin Market Cap data hasn’t happened since early March.
Fundstrat’s Lee is a known bull on bitcoin, having been able to see the forest for the trees throughout the first quarter bear market. So he’s not surprised to see the rally, saying that it’s actually “overdue” and that bitcoin has been “incredibly oversold.”
Lee is a market strategist and was blamed the downturn in the crypto markets on tax selling, as investors looked to take profits to offset their capital gains tax. He said tax selling has “accelerated in the past couple of weeks because tax day is coming up.”
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