Bitcoin price predictions from industry experts
There has been a lot of talk going on about Bitcoin and the future that it promises to investors. Many of them have weighed in the options and look forward to see if the cryptocurrency is going to surpass the all-time-high of January of if it going to keep continuing to go on a downhill decline in terms of value. Let’s have a look at what some of the best in the industry had earlier spoken about the matter at hand in the past few months.
RAN NEU-NER: ‘Now is a great time to be buying’
There were 27,000 blockchain startups in 2017, according to Ran Neu-Ner. By the time it was 2018, this mentioned number had already surpassed to over 28,000. Hence, it is safe to say for now that the interest to this field by the many lot has not been on the decline.
But still Ran Neu-Ner still thinks that the market is in for a huge steep decline on June 28th.This is what he had to say,
“Right now my money is on the market continuing to go down, and going down to about $5,350 which is the next up. And the time horizon there is in about the next two weeks. Now is a great time to be buying” if one believes in Bitcoin and/or blockchain technology.”
ARTHUR HAYES: $50K this year?
Arthur Hayes, co-founder & CEO at Bitmex, says that as the price drops, there is a lot less chance of volatility when compared to a price hike. This is what he had to say overall,
“You want as much volatility as possible to have as much chance that Bitcoin goes to $50,000, $100,000, $1,000,000, whatever that high number is. We’re one positive regulatory decision away, maybe an ETF approved by the SEC, to climbing through $20,000 and even to $50,000 by the end of the year.”
TOM LEE: ‘We still think bitcoin can reach $25k’ in 2018
Tom Lee came forth this year and predicted that the price of Bitcoin is set to be USD 25,000 by the end of the year 2018. He still says that Bitcoin is a great store for value and that the technology that it runs itself on has some great underlying value and immense potential.
“The reason bitcoin looks really good here is the cost of mining around $7,000 fully loaded,” he stated, “And the difficulty is rising. So by the end of the year, it’s going to be $9,000.”
Lee also goes on to say that “applying the historical average of 2.5 times mining costs would imply fair value over $20,000, roughly $22,000. We still think bitcoin can reach $25,000 by the end of the year or something like that.”