Bitcoin Price Will Double By End Of 2018

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Cryptocurrency physical colored bitcoin coins. Pink bitcoin, blue bitcoin and yellow bitcoin
Cryptocurrency physical colored bitcoin coins. Pink bitcoin, blue bitcoin and yellow bitcoin (Photo Credit: www.shutterstock.com)

The value of Bitcoin will likely soar to $25,000 in the next twelve months, say several respected analysts, according to a report by News BTC.

The report stated that Tone Vays, a New York-based analyst and consultant, remains positive about the future Bitcoin price.

Bitcoin and other similar currencies have seen a major price drop in early 2018. Most markets lost nearly 50% of their value in a matter of weeks. Many people assume this is the end for cryptocurrency as we know it.

In Vays’ opinion, Bitcoin will recover sooner rather than later. He is not too sure how high the value will go when the markets start to stabilize again. Reaching six-digit figures will prove to be virtually impossible at this stage.

A more “modest” Bitcoin price of $25,000 by year’s end is in Vays’ books right now. Ronnie Moas, another famous Bitcoin enthusiasts, thinks along the same lines. His prediction puts the Bitcoin price at $28,000 at some point throughout 2018.

Predicting the Future Price of Bitcoin: Is It Digital Gold?

If you’ve been on the internet sometime in the last year, you have undoubtedly encountered Bitcoin, the digital payment system that, on the surface, appears just as radical and revolutionary as it does ethereal.

Smartphone with Bitcoin symbol on-screen among piles of golden Bitcoins. Blockchain transfers concept. 3D rendering
Smartphone with Bitcoin symbol on-screen among piles of golden Bitcoins. Blockchain transfers concept. 3D rendering (photo credit: www.shutterstock.com)

Headlines about Bitcoin run the gamut. Some deride it as a financial instrument whose primary function is facilitating payments on the dark web; others declare it the future of finance, “the internet of money.”

Many people see Bitcoin as the crux of a decentralized, utopian vision for the future of commerce, the impetus for creating a world separate from the pernicious effects of central bankers and inequitable wealth consolidation.

However you view Bitcoin, the reality is that its value is highly volatile. In the course of a week, a day, or even an hour, it can take a massive nosedive or make a huge gain. There are knowledgeable people on both sides of that debate. But since we’re in virgin territory, it’s unclear whose knowledge is most pertinent.

What we do know is that there are several potential occurrences that will either drive the price of Bitcoin up or down in the near future. For instance, if big financial institutions start investing in Bitcoin, it will gain legitimacy and its price will go up.

On the other hand, if there’s a major security breach at a Bitcoin exchange, the public will lose confidence in the virtual currency and its price will fall.

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