As a result of recent findings and recent market observations, many cryptocurrency experts and crypto-forecasters are starting to reconsider predictions that previously saw Bitcoin reach a value of over $32,000.00 by the end of 2018.
Of course, many of these predictions did some through the optimism of a bull market and through the cryptocurrency boom at the end of 2017 and the start of 2018. Although, with this in mind, many of these calculations have been made through a careful analysis of market capitalisations and historic trends. Essentially, what I am saying here is that a few months ago, an expectation for Bitcoin hitting $30,000.00 was totally reasonable.
Now, according to Business Insider UK, the same experts believe that in reality, Bitcoin will actually struggle to move past $14,000.00:
“This month, with Bitcoin still nudging $6,800, the outlook isn’t so rosy from the finder.com.au team. They’re now tipping it can reach $ 14,322 by December 31 — still a hefty increase on today’s price, but certainly a lot wobblier an outlook than at any other time this year. The June Cryptocurrency Predictions Report was compiled by finder’s 10 crypto experts. Out of the 13 coins they ran the ruler over this month, none are expected to be worth less by December 31.”
You can see the full report by Business Insider for yourself, here-
Moreover, you can see The June Cryptocurrency Predictions Report by Finder, here-
Within this report, 10 experts have come together to make these predictions. In reference to Bitcoin specifically then, they expect that by the 1st July 2018, Bitcoin will be valued at $8,487.00, by the 31st of December 2018, Bitcoin will be valued at $14,638.00.
This estimation of around $14,000.00 still suggests that Bitcoin has a long way to climb and that it therefore still has great potential to expand, but, what this does do is extinguish any hope that Bitcoin investors have had, who believe Bitcoin will see $20,000.00 plus again. Those long-term investors who didn’t tell off during the cryptocurrency boom may even be more upset by this report.
Overall, the report highlights many quite depressive figures for the 13 cryptocurrencies referenced, with only EOS expected to make significant gains of over 200% by the end of the year. In fact, by their calculations, EOS should reach $38.25 by the 31st of December 2018.