Nothing is more ecstasy giving to cryptocurrency investors at the moment like hearing that the price of Bitcoin had taken a bullish trend, especially for speculative investors that bought the cryptocurrency at the time when it was higher than this moment. Everybody is waiting for a moment to cash in, and many doubting the tendency that it will rise again, making them unwilling to invest their cash into cryptocurrencies.
Bitcoin, from the highest range of $20,000 it reached last year December has continued to take downward trend since the beginning of the year to $5000, even though it has taken a peak to $8000 of recent, it has made another short-term bearish trend back to $6000 region once again.
What becomes of the future is what everyone wants to know right now. It’s, therefore, imperative to follow every happening in the cryptocurrency world by following the best sources online.
Different View And Opinions
Kenneth Rogoff, a Harvard Prof and also an Ex-IMF chief, in his opinion, states that bitcoin would be worth a tiny fraction of what it is now in the next ten years, he sees it at low ebb of $100 to even be lucky.
His opinion is from a passionate point as he continues to advocate for government opposition to cryptocurrency.
Jeet Singh, a cryptocurrency portfolio manager also has a passionate view of the trend of Bitcoin. He stated that Bitcoin would reach $50,000 in 2018, though he also said it would experience fluctuations as its presently experiencing. The community is still eagerly waiting for its fulfillment.
John McAfee, the founder of McAfee Associates only believes in the bullish trend, as opined like every incurable crypto enthusiast that Bitcoin will take the bullish trend without any iota of the opposite. He projects the possibility of it reaching $25,000 in 2018.
Tom Lee, a Fundstradt Global Analyst in his hypothetical opinion, sees the rise of Bitcoin to be spurred by approval of Bitcoin ETF by SEC and also the recent transactions between Intercontinental Exchange. These events will lead to more acceptance and extensive usage in his opinion. So Bitcoin will rise.
Tuur Demeester, an Austrian economist in his hypothesis view, says, Bitcoin will continue on its bearish move at the moment because “In 2011-’13 Bitcoin rallied 500x in 24 months. It needed a 14-month bear market to find a bottom.
In 2015-’17 Bitcoin rallied 100x in 35 months. It so far has seen a nine-month bear market. “So in his opinion more bearish times still lies in some months to come.
Gavin Andresen, a software developer, gave his hypothetical view on the future of cryptocurrency as he described it as “Feels like we’re in another summer slump for crypto assets (Mike Hearn wrote about the pattern three years ago:” as he cites a pattern from 3 years back that suggests what’s currently happening. But some circumstances and events will lead to its spikes.
The subject of the future of Bitcoin in weeks and months is still a debate, as different opinions tackle each other. As enthusiasts predict with emotions and only a few hypotheses are given to back up predictions. It’s therefore essential that those investing in cryptocurrencies are doing so because of their beliefs and not what others think of it. What the price will be in the future will be a result of what everyone thinks of the cryptocurrency and what it’s being valued as.