As with any new technology and trend, there will always be prognosticators who want to explain to the masses what is going to happen in the future. This is even true of the economists and the pollsters. One has to take all of these with a seriously large grain of salt and healthy suspicion as the predictions are only just that and not necessarily reality. I only need to point you to the 2016 US presidential elections to show you how wrong the pollster prophets were. They still seemed to not have recovered from their bad polling.
So with Bitcoin, we will look at some of the price predictions and other predictions that may or may not be accurate. Part of the issue is that this technology is still on the low side of the bell curve of global acceptance. So basically, the herd has not caught onto it just yet.
Just to put a little perspective on this short article, it is going on the last full week of April 2018 at the time of this report. Looking at CoinMarketCap, Bitcoin is priced at $8,879. Keep that in mind as we look at a few predictions for 2018 regarding Bitcoin.
Standpoint Research under Ronnie Moas has predicted Bitcoin to be at $20,000 per coin by the end of November 2018. This is doable, based on the understanding that the stock market is overpriced and the USD is devaluing globally. Of course, the tax cuts in the United States opening up growth in the American economy may not have been a factor that was considered, which could slow down the devaluing of the USD.
Mike Novogratz is calling for Bitcoin to reach $40,000 by the end of 2018. Mike is a serious investor in this space and has been investing in ICO. So his insight is valuable. It is based on a strong belief that institutional investors are poised to invest heavily in Bitcoin. This will pour a lot of needed capital into this technology and will be the vehicle to bring the price per bitcoin up substantially.
McAfee has predicted the wildest and craziest at $1 Million by the end of 2020. Maybe he was talking about Bitcoin Cash, we are not sure. Either way, that is quite a prediction and would be very cool if that happens.
As far as the number of holders of Cryptocurrencies, that number has been predicted to go up to approximately 50 million investors by the end of 2018. This is a global prediction by Yonatan Sela of Props. This would be the beginning of the wave of herd investors as this digital currency gains momentum.
The ability for the marketplace to see Bitcoin as a means of commerce rather than just a place to acquire an asset seems to be taking hold in 2018. It is not widespread that businesses will accept Bitcoin for example as a means of payment, but the prediction in 2018 is that it is trending.
One of the craziest predictions we saw for 2018 is that Bitcoin will have increased use among online gambling to the point of even having short-term volatility insurance.
So these are just a few of the wild predictions around Bitcoin for 2018. It is not just about price, it is about the number of investors going up, and the trend to have Bitcoin as the means of payment for more and more services, including gambling.
This is just a short list and we recommend that you look at Bitcoin and cryptocurrency in the following manner. Do not get too emotional about it. Just look at it as an asset to invest in, with the possibility that it will be a means of commerce in the future. Consider investing in Bitcoins or other digital currency after at least a minimal education on blockchain technology and cryptocurrency in general. Start out small with some discretionary, I can afford to lose it money and build from there. Remember that diversification of your investable assets is a truth that does not go away no matter what new assets or currencies come into existence.
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