Bitcoin grazed $8500 yesterday at 11:20 UTC before retracing back to $8300 which is still at a 5% increase from the previous day. The current market cap of Bitcoin stands at $141 billion and dominates the market by 42%.
Despite the poor first quarter performance, everyone from influencers to investors and even skeptics feel that Bitcoin’s resilience to the massive regulatory crackdown and governmental pressure makes it a very stubborn digital currency which could propel prices with ten times more the intensity that was experienced towards the last leg of 2017 where Bitcoin peaked at $20K.
Following are predictions from various sources of importance in the order of predicted valuation:
Pantera Capital: They are an investment firm based out of San Francisco, CA focusing solely on virtual currencies and blockchain technology. Their prediction stands at Bitcoin – $20,000 within this year.
Thomas Lee, Co-Founder of Fundstrat Global: Wall Street investment specialists put Bitcoin at $25,000 within this year.
Anthony Pompliano: Predicts Bitcoin at $50,000 within this year.
Mike Dudas: The Co-founder of Button predicts Bitcoin to be $50,000 by next year.
Alistair Milne, CIO of Altana Digital Currency Fund: Based out of Monte-Carlo, Monaco, predicts Bitcoin around $35,000 – $60,000 by 2020 halving.
Tim Draper: Founder of DFJ Venture Capital, based out of Menlo Park, CA predicts Bitcoin at $250,000 by 2022.
Brian Kelly: CNBC Fast Money Trader and author of The Bitcoin Big Bang predicts Bitcoin at $250,000 by 2022.
A lot of analysts have predicted that Bitcoin could potentially see a massive bull run with Tax day concerns wearing off. Many from the community like Daniel Godhino, a Financial Advisor from Chicago feel that traditionalists who call Bitcoin a bubble would be living in a bubble themselves. He says, “People who call Bitcoin a bubble are traditional, close-minded oldies who probably will not live past the next 10-20 years. The challenge was initially cross $1000, I think it will only be upwards from here. Looking back at history, we will be doing this same conversation when Bitcoin hits a peak at $100K and then probably retracing back to $50K and people crying that Bitcoin is a bubble”
Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!