Despite the continued poor performance Bitcoin has had this year so far, experts do not think the game is over yet. But, nor do they think it will be an easy ride for the number one cryptocurrency, making predicting the future price very difficult indeed.
On the bullish side, huge predictions are being made for Bitcoin, with some believing that the price will even hit $30,000, with experts saying;
“Speculation on price is always difficult…However, the trend for Bitcoin is clear – UP, going to about $20,000 USD from zero in 10 years. Each time Bitcoin corrects, the media Wrenches. However, anyone who has been watching cryptocurrency since the beginning knows to bet on $30,000.”
However, on the flip side, you have the bearish camp, who is not so positive about the future, predicting that it will, eventually, all come to an end, which could in turn drive prices right down to just $1,000. The fundamental value of Bitcoin is just $1,142.
Before investors start panicking too much, it is likely that it will take some time for the price to reach this, even if it carries on the way that it is going. A finance professor explains;
“Rationality of behaviour and expectations is not enough to prevent bubbles, as it is not enough to guarantee that the price of an asset is equal to its fundamental value.”
One thing that is for certain and that everyone can agree on, regardless of which side you support is that the volatility will not be going anywhere fast. Dimitris Ioannides, Digital Partnerships and Products and Partnerships Section Manager at OTE and COSMOTE says;
“No one can be sure of how it will end up. Bitcoin is expected to face the biggest battle of all…Regulators, governments, central banks are here to introduce new rules and put limits. For one thing we must be sure of. Bitcoin’s volatility will continue until the end.”
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