It has been a lot of apprehensions regarding cryptocurrency in 2018. We saw a little pump and then it was almost stable (with no or a very little surge in the price of cryptocurrencies). We have eyes wide open for these three months (October, November, and December).
The cryptocurrency market has slowed down over the past few days with the price level of Bitcoin rotating around $7000. A lot of people are getting hopeless and have anticipated losing their strength and faith in cryptocurrency. BUT we have a tremendously good news for you coming straight from panelists predictions. Their absolute hope will change the game of the entire market of digital currency.
Let’s get straight into the panelist assumptions…
Of all the coins, Bitcoin will remain the highest value per unit with $21,485 (£15,261) by December 31, 2018. A team of panelists has expected to see a nice increase at the end of this year as compared to the current status it has (Bitcoin value is currently going at $6566.66). They see the price per BTC rise to as high as $29,533. Now that drops down my palpitation.
Here comes the affirmation, have you all heard about Tom Lee and Robert Sluymer? They both are from the market analysis firm named Fundstrat Global. These advisors firmly believe that BTC would hit $25000 by the end of this year. Tom is holding strong on this prediction and has not wavered in his belief one bit. The reason that underlines his strong affirmative is because he believes that traditional institutions like banks will begin to enter into space as they see arising opportunities of the ‘lucrative business.’ He has continually noted that Bitcoin has held at the cost to mine, which means that Bitcoin will rise to meet the cost of mining when necessary.
Though uncertain, Lee’s predictions will land us where? To a positive or towards the pessimist side is yet another side of the coin.
Now the thing is Bitcoin’s predictions are inordinately gaining hopes as numbers stating its increase in price doesn’t seem to be implausible. Some are even assuming Bitcoin to surpass $100,000 mark by the end of this year.
In fact, CNBC’s host Jim Cramer (an American television personality, former hedge fund manager, and best-selling author) is expecting
Bitcoin will go as far as shattering the million dollar threshold one day.
Considering the BTC market cap, in almost a year ago it was $170 billion. Even in January 2018, it was $800 billion, now it is $109 billion. So, who knows what can happen!
But why people are placing so much optimistic opinion regarding the price prediction of Bitcoin. The reason is if you take a closer look at the growth of the amount of daily transactions using Bitcoin, you will see that the Bitcoin has surmounted the currency’s price hike by a factor of 100! Which means if the value of a Bitcoin has admired about 20 times in 2017, the existing amount of trades has increased about 2000 times.
Henceforth, we all have a pretty high hope for this wavering growth of Bitcoin.
Other than Bitcoin, Bitcoin Cash and Ethereum are speculated to go more than double from that of Bitcoin.
Although, a lot of pessimists conclusions have also been made regarding Bitcoin which may burst at any moment. The institutional investors might bring a tremendous increase in the price, however, the chief executive officer at GVA Research LLC may fear that Bitcoin’s price may fall as low as $5000. Again, uncertainty rules the entire crypto market. No one can predict accurately. It all depends upon the positive and negative news regarding Bitcoin.
How? Negative news related with cryptocurrencies triggered their plunge. A lot of negative news regarding hacking, misguidance, government’s interference and so on…This exerted many to sell Bitcoin at a low price resulting in a fall! Let’s see what we’ll receive at the end of this year.
What investors think about Bitcoin and Ethereum
Here’s a side by side calculation of the three coins that attracts the forecast market capitalizations of the panelists. Ethereum (ETH) is being expected/speculated to see the highest growth by the end of the year with 234%. The above chart defines the market cap predictions using the number of coins expected to be in circulation by the end of the year as of 31st December.
Bitcoin follows with a 47% increase, while Bitcoin Cash is favoured to come in at 27%.
The September 2018 record of Ethereum was not so good. In the 2nd week of September, ETH had 20% bump in its price. Again back in September 14, 2018, some investors created hopes when ETH price had seen a strong reversal at $223. ConsenSys Capital co-founder Andrew Keys showed us a strong opinion by stating that this year Ethereum price would touch $2,000.
Currently, ETH is at $217.30. Ethereum is one of the top cryptocurrency with Bitcoin, Ripple, and Litecoin. As you can see that the whole global crypto market is down in the first week of September. Most of the crypto assets has suffered a lot because of the panic selling mode (a wide-scale selling of an investment which causes a sharp decline in prices) in the market.
With such a volatile market and the sudden downfall of ETH, it’s not at all easy to come to an accurate prediction. Though we can consider from the statement regarding the eminent publications and personalities on the market prediction for ETH.
Let’s hop to it…
Initial Coin Offering using the Ethereum blockchain are seeing as one of the main catalysts for sending Ether’s price surge last year. Now they are being blamed for its decline. With the cryptocurrency market capitalization dropping to about $200 billion from a high of over $800 billion in January this year, on concern about tightening regulation and slow adoption.
- Andrew Keys – Co-founder, ConsenSys Capital
Keys’ prediction is going high as $2,000 in 2018. Ethereum has the potential to outperform Bitcoin. Such a high positive prediction is due to Bitcoin’s governance issues, reluctance to evolve, and extremely high fees will give ETH a scope to raise high up leading BTC behind.
- deVere Group
The deVere group, one of the leading International Financial consulting firms has propelled us a little bit by stating that Ethereum would reach $2500 by the end of this year.
According to this website, ETH is sure to take an upward surge in the coming months and it can touch $1221 in 2018.
As Ethereum based blockchain technology and smart contracts are being widely accepted on an overall basis, the utilization is surely to improve more.
Despite the fall in August 2018, the investors stay optimistic that Ethereum will reach to $1221 by the year-end. Such an optimistic prediction of Ethereum is based on the fact that the blockchain technology and smart contracts are being widely accepted on an overall basis, the utilization will certainly improve more. The utilization ratio and its price hike are directly proportional.
Let’s have a look at the predictions
- The price of Ethereum exceeding $500 at the end of 2018 has got a 23.99% prediction
- Ethereum market cap will be higher than Bitcoin market cap on December 31st, 2019 has got 29.00% prediction
- Price of Ethereum exceeding $1000 at the end of 2018 has got 15.00% prediction
- The price of Ether exceeding $750 at the end of 2018 has got 10.00% prediction
- Price of Ether exceeding $300 at the end of 2018 has got 55.55% prediction
Cryptocurrency is certainly an unpredictable market. No one can actually predict accurately with confidence as to which one coin or multiple coins would be profitable to buy and sell for.
Though with the chronological history of every coin and with the knowledge of some smart investors, we can set our target based on it.
As mentioned in finder.com, the website confirms the movement of 13 coins by 1 October 2018 and the end of the calendar year.
These coins include the top 10 cryptocurrencies by market cap – bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Ethereum (ETH), EOS (EOS), IOTA (MIOTA), Litecoin (LTC), Monero (XMR), XRP (XRP) and Stellar Lumens (XLM) – as well as three top trending coins, TRON (TRX), VeChain (VET) and Lisk (LSK). Opinions are solely those of our panellists- finders.com
A huge bull market is about to enter
If you are an ardent follower of cryptos, you probably have heard about the bull market ruling the December. Though unknown the date is but people are eagerly awaiting…
Why would it come? You all have heard about ETF(exchange-traded fund), right? BUT there is something that is way more huge than this. NYSE (the New York Stock Exchange) is the largest stock exchange in the whole world, amassing a total market cap of 23 TRILLION dollars. That is 100x bigger than that of all the crypto. They have decided to open a crypto exchange, joining hands with Starbucks and Microsoft. These Richie rich guys are expected to come and physically back their leveraged trading with Bitcoin. This step would drive up the price.
That’s why people are predicting that this bull market will take its ride in late September, throughout October, November while BAKKT buys up lots of Bitcoin and reach its peak in December, January when actual investors buy Crypto-derivatives on Bakkt.
Just similar to the last year…