In the past six weeks, the bitcoin and cryptocurrency markets have performed poorly, and many investors are waiting for the dawn. Last year, many cryptocurrency community celebrities, authorities, and bigwigs predicted their growth in 2017, and most people said they were bullish on Bitcoin. Today, despite the continued decline in the Bitcoin market, many key players in the blockchain industry and external investors still have positive views on the performance of the cryptocurrency market in 2018.
Since the middle of last December, the decline in the cryptocurrency market seems unable to stop. The highest price of Bitcoin reached $19,600, but fell to $7,200 after six weeks. Many traders are exploring the bottom line. Some people think that the storm is almost over. Others believe that the currency price will continue to fall. Despite Bitcoin’s poor performance and prices “bottoming” again and again, many cryptocurrency investors and industry experts still believe that 2018 will be as impressive for Bitcoin as it was last year.
At the end of last month, Jordan Belfort, known as “The Wolf of Wall Street,” said in an interview that he does not think Bitcoin was a scam. However, he also does not believe that Wall Street investors can easily manipulate this decentralized currency market. Belfort pointed out that bitcoin prices will once again set a new high, it is likely to reach $50,000, and then it will fall again.
A few days ago, Tom Lee, from an investment company Fundstrat, pointed out in the article that even if the current market sentiment is not good, he still prefers Bitcoin. Lee believes that by the middle of this year Bitcoin will reach $20,000, and by the end of 2018, the currency price will be $25,000.
This week, Finder.com, a research and decision support website, conducted a survey of nine prominent fintech investors to collect their views on cryptocurrency in 2018. The cryptocurrency involved in the investigation was 9 digital currencies including Bitcoin, BCH, ADA and ETH. Panelists included Clayton Daniel, Fintech Founder of Sprout Superannuation, Michael Dunworth, CEO and co-founder of Wyre Inc, Fred Schebesta, Co-founder, and CEO of Finder.com and Joseph Raczynski, Technologist/Futurist of Joetechnologist.com.
The survey results showed respondents’ estimation to the price of Bitcoin: the price of Bitcoin will be $14,928 before March 1, 2018; at the end of 2018, Bitcoin will reach $43,472. Each participant also gave a reason for predicting prices.
Wyre CEO stated:
SEC will move in and green light the ETF this year. If that doesn’t happen it’ll be around $8000, if it does happen, it’ll be $50,000+.
Still in the early stages
As a well-known female practitioner in the field of cryptocurrency, Jen Greyson, founder of the Neureal Network, said that the popularity of cryptocurrency has only just begun.
As the penetration rate continues to increase, we will see a rise in the price of Bitcoin and other competing currencies – the practicality of this new type of asset will be the major obstacle.
We will have many opportunities to buy hamburgers or pay rents with cryptocurrencies, and the price of cryptocurrencies will rise in an all-round way – we are still in the early stages.
Although the mainstream media is still predicting that Bitcoin prices will continue to fall, even to zero, many believe that Bitcoin and other cryptocurrencies will be successful in 2018. In most cases, it is normal to have a pattern of ups and downs, especially when the price hits a bottom, the market will usually pick up again.
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