So after a long analysis on Bitcoin, an analyst says that bitcoin is going to rock this year and will hit $100,000 to the moon. His predictions are strong always as he predicts 2016 that Bitcoin will reach $2,000 in 2017. Now he is trying to say that Bitcoin could hit $100,000 in 2018. It is very possible that we hit the 100K USD Bitcoin mark during this rally. It should take until 2019 for the landmark to be reached however global mass adoption has just begun (we are in the earliest of stages) and that is the required trigger. I have been waiting some time now for this since I entered into the industry. Kay Van-Petersen, an analyst has declared some Good news about bitcoin. Have a look below:
Bitcoin price is going to hit $100,000 in 2018, an analyst who Predict correctly from the last year price rise.
Kay Van-Petersen, an analyst at Saxo Bank, said in December 2016 that bitcoin would reach $2,000 in 2017, a feat achieved in May.
Van-Petersen now says bitcoin will be driven by a larger uptake of institutional investors and futures contracts.
Van-Petersen said Tuesday that bitcoin could hit between $50,000 and $100,000 in 2018.
“First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pullback at one point, which is healthy. But we have still not seen the full effect of the futures contracts,” Van-Petersen said.
To reach $100,000, bitcoin would need to rally over 635 percent from Tuesday’s highest price of $13,601.43, according to CoinDesk. Previously, Van-Petersen said that $100,000 could take ten years to hit.
Also, bitcoin has been trading sideways since the start of the year. But the Saxo Bank analyst said that bitcoin tends to trade around a certain level than “re-rates”.
Van-Petersen, who owns different cryptocurrencies and is a noted bull in the space, joins a chorus of other figures also predicting big price rises for bitcoin.
Julian Hosp, co-founder of TenX, a firm that wants to make it easier for people to spend virtual currencies, told CNBC in December that bitcoin could hit $60,000 in 2018, but could crash first. And Dave Chapman, managing director of cryptocurrency trading firm Octagon Strategy, said that bitcoin could hit $100,000 in 2018.
What I foresee is a Cryptocurrency market cap of well over 5 Trillion USD before the top is reached. The Dot Com bubble was over 3 trillion USD (before inflation adjusted) and this industry is literally predicated upon money being a cryptographic version of currency. With literally everything you can imagine being tokenized and ending up on a blockchain, the sky is the limit.
This will mean we are going to see a 10x + increase from the current level of 500 Billion USD that we enjoy today. If you are still waiting to get into the markets and are willing to take a longer-term perspective, now is as good a Time as any. I cannot state it any more clearly than this.
Reference: CNBC News on Bitcoin