Cryptocurrency is a growing but speculative market. Those who purchased Bitcoin in March 2017, would have paid under $1,000 per coin and by December of the same year, Bitcoin was valued at almost $20,000 per coin, with many predicting that the king of cryptocurrencies would hit $25,000 by the end of the year. Obviously, that didn’t happen, and the first quarter of 2018 saw a sharp drop in the global market cap, with Bitcoin —and most other coins— losing 50-80% of their value.
So what comes next for Bitcoin in 2018? Depending on who you ask, you’ll get varying answers, especially when it comes to predicting the value of Bitcoin. As of writing this, Bitcoin’s price is sitting around $7,800. There’s no doubt that blockchain technology is here to stay, but with questions surrounding regulation and usability, many are wondering if Bitcoin’s time is running out, or if it’s ready to shatter all expectations.
To provide some perspective we’ve compiled a list of bitcoin price predictions for 2018 and beyond from a collection of public figures in the financial space, presented here for your amusement and/or ridicule.
7. Kenneth Rogoff Bitcoin Price Prediction
Harvard professor & Economist
Long Term Bitcoin Price Prediction: $100
The former chief economist of the International Monetary Fund’s (IMF), Kenneth Rogoff has recently said he sees no intrinsic value in Bitcoin, and that it will likely be worth only a fraction of what it is now due to lack of real world use. According to Killjoy Kenneth, as he shall be known from this day forward, Bitcoin is ‘a lot more likely’ to be $100 than $100,000 in ten years.
6. Tom Lee Bitcoin Price Prediction
CFA of Fundstrat (NOT a drummer)
2018 Prediction: $25,000
Tom Lee has a positive outlook for cryptocurrencies, despite the so-called “crash” of 2018. Tom has gone on record as saying that the primary reason for the large amount of fiat leaving the market in recent months is the result of the April 15th US tax deadline, with a reported $25 Billion owed in capital gains taxes for cryptocurrency investments. Lee believes that once tax season is over, the money will return to the market and that Bitcoin could reach $91,000 by 2020 based on past market trends.
5. Peter Boockvar Bitcoin Price Prediction
Chief Investment Officer at Bleakley Advisory Group
2018 Prediction: $1,000-$3,000
In a recent interview, Peter Boockvar said that although Bitcoin could be around for a long time, his prediction for 2018 sees Bitcoin price dropping to between $1,000 and $3,000 in 2018. In Boockvar’s opinion, Bitcoin’s drop in value won’t affect the global financial market due to the insignificance of its current market cap, and that those investing in cryptocurrencies with credit will be hit hardest. And although we don’t see 1K Bitcoin in 2018 as particularly likely, it’s hard to argue against the risk of investing money you can’t afford to lose.
4. David Drake Bitcoin Price Prediction
Chairman of LDJ Capital
2018 Prediction: $30,000
In an interview with Bitcoinist.com, LDJ Capital chairman David Drake predicts that Bitcoin will be valued at $30,000 by the end of 2018, and that the recent drop in value is due to big investor groups manipulating the unregulated market in fear of missing out. With all the hype surrounding Bitcoin last year, many are looking to get in on the action before prices return to their previous levels. Although his logic makes sense, it’s hard to imagine Wall Street doing something as shady as price manipulation…said literally no one ever.
3. Tim Draper Bitcoin Price Prediction
Investor & Early Bitcoin Advocate
2022 Prediction: $250,000
Legendary Bitcoin bull Tim Draper, who correctly predicted Bitcoin price reaching $10,000 in 2017 way back in 2014, recently told supporters he believes Bitcoin price will reach a cool quarter-milly by 2022. If his prediction turns out to be true, Draper – who has been acquiring large sums of Bitcoin for longer than most have known the meaning of the word – will hopefully be able to afford a better ‘prediction party’ (yes, that’s a thing now) than the embarrassment below…
2. Cameron Winklevoss Bitcoin Price Prediction
Co-founder of the Gemini Exchange, not friends with Zucks on Facebook
Long Term Prediction: $320,000
Cameron Winklevoss, one half of the infamous Winklevoss Facebook twins recently predicted that Bitcoin will be worth 30-40 times its current value in the long term, comparing its scarcity to gold, which has a market cap of $7 Trillion. Bitcoin’s current market cap is sitting around $112 Billion, but the co-founder of Gemini – one of the largest Bitcoin exchanges in the world – says that a $4 Trillion market cap for Bitcoin is possible in the next 10-20 years as devices around us integrate micro-transactions in our day-to-day lives.
1. John McAfee Bitcoin Price Prediction
2018 Prediction: $29,000
And claiming the number one spot for most outrageous bitcoin price prediction, the infamous John McAfee of McAfee Antivirus riches has recently predicted Bitcoin price will hit $29,000 by the end of 2018 while putting his
money junk literally where his mouth is when it comes to Bitcoin’s long-term future…
Undeterred by the prospect of self-cannibalism – or perhaps figuring there’s nothing really left to lose – John Mcafee later made an even more extreme Bitcoin price prediction of $1 Million by 2020 (no word on yet on whose genitalia will act as dessert if he should lose). So while McAfee has a lot to gain from remaining perma-bull (Newsweek recently revealed that McAfee is charging up to $105,000 per tweet to promote coins and new ICOs) we appreciate John making sure we’ll at least have one thing to look forward to if Bitcoin enters a multi-year bear market.
Here’s to you John, and to Bitcoin bulls everywhere; from your lips to Satoshi’s ears.
What about you? What’s your bitcoin price prediction for 2018? Let us know in the comments below and we’ll have a special little treat for whomever is closest at the end of the year!