Home / Crypto Currency / Experts Predict Bitcoin Price to Reach $25,000 by 2018, $250,000 by 2022

Experts Predict Bitcoin Price to Reach $25,000 by 2018, $250,000 by 2022


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The bitcoin price crossed the $8,000 mark earlier this week, supported by a massive spike in buy volumes across all major cryptocurrency exchanges. Analysts explained that a sudden surge in demand from institutional investors and inflow of new capital may have triggered the surge in the bitcoin price.

$250,000 by 2022

On April 13, CCN reported that billionaire venture capitalist, early investor in some of the most successful technology companies like SpaceX, and cryptocurrency angel investor Tim Draper predicted the bitcoin price to achieve $250,000 by the end of 2022.

A price of $250,000 would lead to a $5 trillion market valuation of bitcoin. At its peak, the cryptocurrency market was valued at around $900 billion. It would require the bitcoin price to increase by more than 31-fold within a 4-year span for it to surpass $250,000.

When Draper initially released his long-term goal for his bitcoin investment, the cryptocurrency community and investors within the market shared the sentiment of Draper and agreed the $250,000 price target for bitcoin is a realistic goal, especially in the long-term.

Many investors in the cryptocurrency market are not in it for short-term profits. If that had been the case, the vast majority of investors should have cashed out in December 2017. Economists can argue the cryptocurrency market was in a bubble and that investors did not cash out at the all-time high of the market in December because of greed.

But, investors like Peter Thiel and Tim Draper disagree. Investors did not pull out of the cryptocurrency market in December after seeing massive profits. They did not pull out because investors truly believed the maximum potential of the cryptocurrency market will not end as a $900 billion market.

For bitcoin to evolve into a reserve currency as said by Twitter CEO Jack, Draper, and Thiel, it needs to hit a multi-trillion dollar market and compete with traditional assets like gold in terms of market valuation. The liquidity of the entire cryptocurrency market is nowhere near the liquidity of stock markets like the New York Stock Exchange (NYSE) and Nasdaq.

If bitcoin can evolve into a major currency that is used by billions of users, retailers, merchants, restaurants, cafes, businesses, and more, it will easily achieve a multi-trillion dollar market valuation. This potential of bitcoin is shared by investors like Draper, who truly understand the vision of cryptocurrencies and decentralized financial networks.

Mid-Term

In the mid-term, Wall Street analyst and Fundstrat founder Tom Lee stated that the bitcoin price will likely achieve $25,000 by the end of 2018, as it rebounds from its correction and achieves a new all-time high.

“We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year,” said Lee.

Already, within a three-day period, the bitcoin price has recorded a 15 percent increase in value, from $6,900 to $8,000. If the momentum of bitcoin can be sustained throughout April and throughout the rest of the year, a recovery above its previous all-time high is possible.

Featured image from Shutterstock.

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Dogecoin Price – 3 Promising Predictions for Late 2018

There are some high expectations regarding the Dogecoin price as of right now. Although it is very difficult to predict how things will pan out for this popular altcoin, it is evident the market will take an interesting turn moving forward. The below three charts are ranked in terms of bearish to bullish outlooks. Three Dogecoin Price Predictions: #3 The Potential Reversal Chart: Tradingview Over the past few weeks, DOGE’s price has shown numerous signs of upward momentum. There has been a very sharp uptrend since early September of 2018, even though it seems there may be some resistance forming as well. It is always difficult to say how long cryptocurrency price rallies will last. However, in the case of Dogecoin it seems a dip is not necessarily a downside for the crypto. According to the chart published on tradingview by user Mycotoxin, it is very likely the price will break a key support level at $0.0063. Assuming that happens, there will be a correction which may be as steep as hitting $0.0021 in the weeks after. That is a very bearish outlook, although such a trend would simply return the price to the level prior to this massive momentum coming into play. As such, not an unlikely scenario under the current circumstances. #2 Completing the Third Wave Source: Tradingview An interesting chart is presented by BuyPennyCrypto. According to this analysis, the Dogecoin market is currently subject to a three-wave pattern. If this chart holds true, a final “pump” will occur in the coming days, which can have some interesting consequences on the market. This last push can raise the DOGE/BTC level to ~200 Satoshis, which would be a very remarkable feat to achieve. It is equally possible the price will not hit that target, as it will heavily depend on what all other cryptocurrencies are doing in the process. For Dogecoin, a wave to 192 Satoshi seems possible, although it can go as high as 220. After that, there will probably be a major correction to push the price down again, although no predictions are made as to how low it can go. #1 The $0.21 Gamble Source: Tradingview There is no shortage of enthusiasm when it comes to the Dogecoin community. One intriguing prediction by CryptoManiac101 claims the DOGE price will go as high as $0.21 in 2019. While that is not necessarily impossible, this chart seems to hold up so far. It was originally submitted in late June, and the price has been following the predicted upward trend to a T. One always had to wonder how such massive momentum is expected to materialize. If the meme coin’s price were to reach $0.21, it would need a 300-fold increase over the coming months. Given the vast supply of DOGE and its current market cap, that would put it at a $210bn market cap as well. Very unlikely, but it is still interesting to take note of different price predictions. Dogecoin charts by Tradingview The post Dogecoin Price – 3 Promising Predictions for Late 2018 appeared first on NullTX.

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