Bitcoin spent its first Sunday of October 2018 reclaiming its support near $6,500 after witnessing a false breakout action. The BTC/USD, in reality, is stable like it was the previous week. The pair kicked off today down -1.02% in the last 24 hours. The crypto market capitalization has dropped by $575 billion since its all-time high, and the bitcoin price has dropped by around two-thirds since it peaked near $20,000. In the month of October, Bitcoin might reach $6700 as we can see, this month started on a very good note, with little or no fluctuations and it didn’t go much below the $6,500. The inflow of investment coming from institutional investors developing cryptocurrency based financial products geared at offering mass users indirect exposure to the digital assets market will likely set cryptocurrency prices on an upward trajectory.
With the middle of 2018 almost upon us, it has become incumbent on experts and commentators to offer revised Bitcoin price predictions. At the start of the year, the consensus was that the number one cryptocurrency would reach even greater heights. However, BTC prices have declined from its record-setting highs of $19,500 in mid-December 2017 to hovering around the $7,700 mark.
BITCOIN WILL APPROACH THE $15,000 MARK BY DECEMBER 2018
Finder, a financial comparison platform, released a Bitcoin forecast that said BTC prices would cross the $30,000 mark by December 2018. Six months into the year, the platform seems to have revised its predictions with a new report released in June. According to the latest forecast figures, Bitcoin will end the year trading at $14,638. This new figure predicts an almost 100 percent increase in BTC price based on its current trading value.
The Finder cryptocurrency prediction panel consists of 10 members with experience in the digital currency and blockchain industry. The figures published by Finder are an extrapolation of the individual predictions of each panelist. Examining the figures published by Finder, the lowest end-of-year BTC price prediction was $5,778 while the highest was $25,000. Some of the members of the panel include James Lynch of Castlecoin, Aaron LePoidevin of Every Capital, and Kunal Patel of the Gerson Lehman Group.
Speaking to The Independent, David Hanson, CEO of Ultra, said that he expected Bitcoin to continue hovering between $6,500 and $8,500. According to Fundstrat analyst, Robert Sluymer, Bitcoin’s bottom price is $7,000. Thus, with an influx of institutional investors, the price of BTC is expected to increase. Many experts and commentators share this notion that the entry of institutional investors into the market will drive up prices. In 2018, people like Tom Lee, also of Fundstrat, Dan Morehead (Pantera CEO), and Iqbal Gandham of eToro have expressed similar views.
Bitcoin never failed to create that frenzied ambiance, and amidst the volatility, it has been stable to stay secure in number one position. As we know, its the market forces and the adaptability that leads to the ranking scenarios, which means crypto enthusiasts never gave up, and always stayed optimistic regarding the largest cryptocurrency in the world.
As of today – October 10 2018, Bitcoin is trading at $6557.14 USD, which is down by -1.02% in the last 24 hours, with a market capitalization of $113 Billion USD and a circulating supply of 17,314,487 BTC BTC.
Traders and enthusiasts are of the opinion that the market volatility comes right before the upsurge. They believe its just a matter of time when Bitcoin ETFs will get sanctioned, and then nobody can stop BTC from reaching their all-time-high.
Tom Lee BTC price prediction
The Bitcoin price has increased $200 increase in just a matter of 35 minutes on Aug 28, 2018. This increase happened after the statement of Tom Lee, head of research at Fundstrat Global Advisors. Lee said in an interview with CNBC’s ‘Trading Nation’ that Bitcoin ‘could end the year explosively higher’, targeting a year-end price as high as $25,000. The basis of this prediction is The correlation between the price of emerging market equities and Bitcoin. This could lead to a major rally for Bitcoin.
Bitcoin prices are fluctuating. It is trading at $6489.55 from its all-time of $20000. That’s why many are interested in the price forecast of Bitcoin.
Market Prediction For Bitcoin Price:
As the market is experiencing volatile conditions, we should back up the prediction with the market experts, who have been the mind and heart of the cryptocurrency market.
Bitcoin (BTC) Expected Price In December 2018
Let’s take a look at the famous Bitcoin predictions:
#1 John McAfee Bitcoin Price Prediction
John McAfee, the founder of the popular McAfee software and an ardent Bitcoin follower predicted that Bitcoin will hit $1 million by 2020 following last year’s prediction of $7000 which was well surpassed.
John McAfee Bitcoin price prediction
#2 Kenneth Rogoff Bitcoin Price Prediction
Kenneth Rogoff, a Harvard professor, better known as ex-International Monetary Fund(IMF) chief, puts ice water on the hopes by saying that the Bitcoin bubble will burst and it would reach low to $100 and not, $100,000.
#3 Tom Lee Bitcoin Price Prediction
Tom Lee, ex-Chief Equity Strategist JP Morgan, and head of research of Fundstrat, believes that Bitcoin would reach $25K, as he is counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user base.
#4 Jeet Singh Bitcoin Price Prediction
Jeet Singh, a cryptocurrency portfolio manager spoke in the Economic Forum in Davos saying that he believes Bitcoin would reach $50,000 by the end of this year. He warned of heavy price fluctuations which are happening, which he believes is only normal for a cryptocurrency market that is still maturing.
#5 Tim Draper Bitcoin Price Prediction
In 2014, when BTC was valued at $413, none but Tim Draper, the popular Venture Capitalist predicted that Bitcoin would reach to $10,000 in a period of three years. Though he didn’t categorically predict a $100k Bitcoin in 2018, he said he expected the Bitcoin to continue its growth drastically, in an interview with Bloomberg last year.
#6 Llew Claasen Bitcoin Price Prediction
Llew Claasen, the director of the Bitcoin Foundation made a bold statement to reassure Bitcoin believers that the largest cryptocurrency will reach $40,000 mark, even if it takes a downfall.
#7 Michael Novogratz Bitcoin Price Prediction
At the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund chief and founder of Galaxy Digital stated that he believes that BTC won’t reach$9K this year, and its likely to break beyond $10,000 in the around the second quarter of 2019.
#8 Cameron Winklevoss Bitcoin Price Prediction
Cameron Winklevoss, co-founder of the crypto exchange – Gemini and the fourth wealthiest cryptocurrency investor predicted that BTC will go up by 40% someday.
Now, we understand why he was so sure of his predictions as he and his brother had the inclination to apply for the Bitcoin ETF( exchange-traded funds) to the U.S Securities and Exchange Commission.
#9 Bobby Lee Bitcoin Price Prediction
Bobby Lee, CEO of China’s first exchange- BTCC also predicted that bitcoin will surpass $1 million but instead of the time frame being 5 years as predicted by McAfee, Bobby Lee gave way too conservative a prediction stating 20 years.