Bitcoin’s price has dropped to a two-month low, but Investors have given their predictions for the future of the cryptocurrency.
Here are some experts predictions on where Bitcoin is heading.
In January 2018 Spencer Bogart predicted that bitcoin’s price could rise to levels of up to $50,000 (£36,000) in 2018, over double its peak price in 2017. He also said the Bitcoin price because of institutional investors.
In an interview with CNBC, Mr Bogart said, “Institutional investors that want to play in this market, even if they do, they are going to wait a little bit and either dip their toes in the water or just wait on the sidelines until they see the products themselves function. But when I look out over the next 12 months, what I see is a significant supply and demand imbalance at the current price levels.”
The Financial Analyst at AMSYS Group said it was good that the price of Bitcoin had dropped. He commented “A lot more money is going to come into bitcoin, bitcoin will go up around $30,000 to $35,000 this year, next couple of years? $100,000.”
The CEO of Shopin said he has “no doubt” bitcoin will reach a value of beyond $100,000 in the future.
When interviewed, Mr Eyal said: “I have no doubt that bitcoin is going to reach well beyond $100,000. I think it’s important not to just look at it at this moment in time but also to look at it historically at what has happened around the world.”