With the middle of 2018 almost upon us, it has become incumbent on experts and commentators to offer revised Bitcoin price predictions. At the start of the year, the consensus was that the number one cryptocurrency would reach even greater heights. However, BTC prices have declined from its record-setting highs of $19,500 in mid-December 2017 to hovering around the $7,700 mark.
BITCOIN WILL APPROACH THE $15,000 MARK BY DECEMBER 2018
Finder, a financial comparison platform, released a Bitcoin forecast that said BTC prices would cross the $30,000 mark by December 2018. Six months into the year, the platform seems to have revised its predictions with a new report released in June. According to the latest forecast figures, Bitcoin will end the year trading at $14,638. This new figure predicts an almost 100 percent increase in BTC price based on its current trading value.
The Finder cryptocurrency prediction panel consists of 10 members with experience in the digital currency and blockchain industry. The figures published by Finder are an extrapolation of the individual predictions of each panelist. Examining the figures published by Finder, the lowest end-of-year BTC price prediction was $5,778 while the highest was $25,000. Some of the members of the panel include James Lynch of Castlecoin, Aaron LePoidevin of Every Capital, and Kunal Patel of the Gerson Lehman Group.
Speaking to The Independent, David Hanson, CEO of Ultra, said that he expected Bitcoin to continue hovering between $6,500 and $8,500. According to Fundstrat analyst, Robert Sluymer, Bitcoin’s bottom price is $7,000. Thus, with an influx of institutional investors, the price of BTC is expected to increase. Many experts and commentators share this notion that the entry of institutional investors into the market will drive up prices. In 2018, people like Tom Lee, also of Fundstrat, Dan Morehead (Pantera CEO), and Iqbal Gandham of eToro have expressed similar views.