Bitcoin Price Prediction 2018: Can cryptocurrency hit $50,000 this year?

Can Bitcoin hit $ 50,000 this year? While most of the cryptocurrencies are much below their earlier highs but there are newer and newer predictions coming up for cryptocurrencies. One such prediction is that Bitcoin can rise to as high as $ 50,000 in the calendar year 2018

A cryptocurrency portfolio manager by the name of Jeet Singh, stated at World Economic Forum in Davos, that the current volatility is completely normal when it comes to the cryptocurrencies space. He also stated that it is normal for cryptocurrencies to fluctuate by 70% to 80%. This is one of the main reasons why the current volatility does not worry him at all.

He compared cryptocurrencies to the current bellwether companies like Microsoft as well as Apple. Initially, their stocks were also pretty volatile. However, as the companies develop their business model, the stocks not only rose but they become much more stable as well.

However, many of the investors are actually currently worried due to the high volatility in cryptocurrencies. According to him, however, long-term investors need not fear the volatility at all. Since they are here to stay for a longer period of time, they would have no problem at all in holding the cryptocurrencies for a longer period of time as well.

He further added that Bitcoin would reach as high as $ 50,000 this year. If indeed that happens, the current price of Bitcoin being around just $ 10,000, that would be a fivefold increase once again.

Whether the portfolio manager is right or wrong, only time would be able to tell. The truth is that currently, many of the investors are worried about putting new money into Bitcoins. Only once they are sure that the volatility would end and the Bitcoin resumes its uptrend you can be sure that most of the investors would actually get ready to invest in this cryptocurrency.

For now, however, most of the investors are keeping away from the cryptocurrency boom. Many of the investors are just holding their holdings patiently in order to find out whether the cryptocurrencies resume their uptrend or not. It is still too uncertain for most of the investors to take a call. On the other hand, institutions are increasing their presence in the cryptocurrencies pace as well which is sure to benefit the cryptocurrencies space and would add value and credibility to the cryptocurrencies in the future as well. This is one of the main reasons why it is not seeing further fall after creating a bottom few weeks back. Also, once the regulatory hurdles are sorted, you can be sure that the value of cryptocurrencies would again more.