Bitcoin soared past $5000 mark on Thursday, defying all the market concerns and fears about the cryptocurrency. Analysts think that the drop of Bitcoin price in the last few months was due to the internal problems of Bitcoin platform, which were solved in a latest SegWit2X upgrade. Bitcoin price also declined due to the crackdown on IPOs by China and comments by JPMorgan’s CEO Jamie Dimon. But all of these factors had a temporary effect. Japan has started opening up to fintech platforms. Consumers are welcoming the decentralized cryptocurrencies that make sending and receiving payments easy and cheap. But there are all sorts of Bitcoin price predictions in the market. In this article we will talk about the most famous Bitcoin price predictions for 2018 and beyond.
Bitcoin Will Reach $6000 in 2018
Michael Edward “Mike” Novogratz is a famous hedge fund manager and former Goldman Sachs executive. He used to run his investment firm, Fortress Investment Group. The billionaire recently made several Bitcoin predictions for 2018 in a latest interview with CNBC. Edward said that he is “betting it all” on Bitcoin. He thinks that Bitcoin is spearheading the decentralization revolution in the world. He thinks that the cryptocurrency will be one of the biggest “manias” of all time. Michael Edward said that he won’t be surprised if Bitcoin goes over $6000 over the next six months. The legendary investor said that he called off his plans of retirement just because Bitcoin seems so “exciting”. He said that he now plans to build a business on Bitcoin investing.
Bitcoin is a Bubble Headed for a Disaster
Kenneth Rogoff is a big name in the finance world. Rogoff has served as an economist at the IMF and a board member at Federal Reserve. Rogoff recently said in an article in The Guardian that it’s foolhardy to think that Bitcoin will supplant the existing banking system. He said that the Bitcoin price will collapse in the coming months because there are too many things working against the cryptocurrency. Rogoff, who is also a chess master, said that banks could also come up with their own digital currencies to facilitate their consumers. But these currencies will not be decentralized.
Bitcoin Will Reach $6,000 by End of 2017
Thomas Glucksmann is the head of APAC business development at Gatecoin. Glucksmann recently predicted that Bitcoin price will come closer to $6,000 by the end of 2017. However, the analyst warned that Bitcoin price might pull back in November as several Bitcoin communities are expected to reject the SegWit2X update.
Bitcoin Will Cross $27,000
Trace Mayer is an authority in the Bitcoin world. The millionaire investor is famous for its accurate predictions and analysts on cryptocurrencies. Trace Mayer recently shocked the world by predicting that the bitcoin price will surpass $27,000 by February 2018.