Much has been said about bitcoin (BTC) and its future. Many people made assumptions about whether cryptocurrency their highs of the end of 2017, or will continue to lose value. Below is a brief overview of what the experts say on this topic over the last few months.
Nicholas colas: «bitcoin was a bubble»
Co-founder DataTrek Research Nicholas colas (Nicholas Colas) said that bitcoin «was definitely a bubble, based on the launch of futures in December, and a lot of enthusiasm about the asset.» He also continued to convince investors to be cautious, as interest in the cryptocurrency is reduced. According to him, it «kills» the possibility of new money into the market.
Colas based their observations on the trends in Google search. According to him, the amount associated with queries of bitcoin fell compared to the end of 2017, when cryptocurrency reached a peak price of about $20 000. However, coincidentally or not, he forgot to mention the fact that the interest in the underlying technology of crypto-currencies is steadily growing.
Ran Neu-Ner: «now is a great time to buy»
According to the trader’s Wound Neu-Ner (Ran Neu-Ner) in 2017 was 27 000 blockchain-related startups. For the first two quarters of 2018, their number exceeded 28 000. It’s safe to say that interest in the region is far from quenched. In this June 28, Neu-Ner said that, in his opinion, the market will continue to decline:
«Now my investments in the market continue to lose value and most likely the cost of bitcoin will soon reach $5 350. This can happen in the next two weeks.»
However, Neu-Ner also said that «now is the best time to buy» for those who believe in the technology of the blockchain and/or bitcoin.
Mohamed El-Erian: «buy bitcoin below $5 000»
Senior economic adviser at Allianz Mohamed El-Erian (Mohamed El-Erian) raised the necessity of creating a consolidated community of people who «really believe» in bitcoin. According to him, this is especially important now when prices are down. He also added that the rally cryptocurrency in 2017, fueled by large numbers of investors, saprygova in the last car of a departing train and joined those who believed in cryptocurrency before.
He shared the view that bitcoin is worth buying when its price drops below $5 000. However, El-Erian also said that he sees a future where digital currency will be strong, but the government will provide them much influence.
Arthur Hayes: «$50,000 in bitcoin this year?»
According to Arthur Hayes (Arthur Hayes), co-founder and CEO of Bitmex, we may have reached stabilization. He said that as prices fall we see much less volatility. He describes it as a problem and is associating high volatility with large price peak possibilities:
«Volatility should be higher and that bitcoin was a chance to reach $50 000, $100 000, $1 000 000 or any other high numbers.»
Hayes also believes that the time frame of potential growth will be significantly reduced due to much more active participation of investors in the market. He also noted that the positive decision of the regulators can be a key factor in the rapid growth of the prices:
«We are one step away from positive regulation. If the SEC will approve the ETF cryptocurrency, the bitcoin price can soar up to $20,000 and even up to $50 000 by the end of the year.»
Brian Kelly: «live better»
Founder and CEO of cryptocurrency hedge Fund and active BKCM LLC trader Brian Kelly said that bitcoin is not the only possibility of long — term investments. In June, he said that the ether has showed a little better from the point of view of comparative values. He also noted that while bitcoin has reached lows in June 2018, the ether did not. Kelly explained:
«From the point of view of comparative values, the air moved slightly better than bitcoin. So, if I was planning long-term investments in this market, I’d chose the air».
While Kelly still believes in bitcoin. He identified several reasons that, in his opinion, speak in favor of a better future of bitcoin.
Tom Lee: «bitcoin will reach $25 000 in 2018»
Earlier this year you predicted that bitcoin will be worth $25,000 dollars by the end of 2018. He later confirmed
its position, stating that bitcoin is still an excellent «store of value» and that the technology behind them is «really good in the field of digital transactions.»
Just a few days ago Lee, who is currently the managing partner and head of research at Fundstrat Global Advisors, said he still believes that bitcoin could reach $25 000 by the end of the year. As the main reasons for this optimistic forecast, he called the increasing complexity of bitcoin mining:
«The reason bitcoin looks really good — is the cost of mining 1 BTC, which is $7 000 dollars and has reached its limit,» he said. «And complexity is increasing. Thus, by the end of the year they reach $9 000».
Lee said: «if you take into account the historical average figure, the increase in the cost of mining by 2.5 times will lead to higher prices up to $20 000 — $22 000. We still think that bitcoin can reach $ 25 000 by the end of the year.»
Which of these predictions come true, time will tell, but for now you can read the latest medium-term analysis
rates of major cryptocurrencies and Express in the comments on the forum their own opinion.