“Since then, the price of Bitcoin against the end of 2017 has experienced an unexpected upward trend, and in just under 12 months to more than 2,000 U.S. Dollar to rise, there was tons of speculation about the future price of the digital currency. Recently, Arthur Hayes, CEO of the Bitcoin exchange BitMEX from the Seychelles, predicted that Bitcoin will continue to rise by the end of this year on a $ 50,000 – a rich 500% increase over the current price of 8.215 dollars.“
This statement was also published by crypto Ticker in may 2018. In an Interview with Yahoo Finance UK on the 31. October 2018, he moved back to his above-mentioned statement, when he said that the downward trend in the crypto – currency market for at least another 12-18 months. The former trader of Deutsche Bank and CitiBank said: “I began to invest in 2013 in Bitcoin, as the value of 250 US Dollar to rise to 1,300 U.S. dollars and then was in the years 2014 and 2015, in a sense, a kind of atomic bear market. The price is collapsed, the volume of trade has collapsed – very, very hard to make money.“
Another well-known Bitcoin price speculator, Ran, nines, has also its earlier stance that Bitcoin will reach to the end of the year $ 50,000 to be withdrawn. His initial prediction from 1. February of this year, said: “For the record, I tiller this Tweet. Bitcoin will end the year 2018, from US $ 50,000.“, while his new Tweet says: “For the record, I tiller this Tweet. Bitcoin will not end the year 2018, from US $ 50,000.“
For the record , I am pinning this tweet. Bitcoin will not finish in 2018 at $50 000.😂 https://t.co/CAZUABJ1Hk
— Ran NeuNer (@cryptomanran) November 1, 2018
The downward trend of Bitcoin in 2018
As in a number of price analysis, Bitcoin this year experienced a strong downward trend, which agrees in General with the Altcoin-cryptocurrency markets. Since the famous all-time highs in December 2017, Bitcoin has lost almost 70% of its value. The price of Bitcoin was in the last months of fairly stable and moved in the range of 6,000 US dollars. Bitcoin is also continued to be the dominant crypto currency in the market, and it is important to note that the market share has fallen sharply since January of this year, continuously.
Even as Bitcoins price collapsed at the beginning of the year, was not Hayes in the Least concerned about his optimistic forecast. However, he issued a Disclaimer: “It is my job to make predictions”, regardless of whether they are reality or not. In addition to Hayes and nines, there were also several other crypto influencer and dealer, large speculative claims about the crypto-currency prices. John McAfee made an infamous prediction that the price of Bitcoin would reach by 2020, 1 Million dollars, together with the unorthodox bet.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I still eat my dick if wrong want. pic.twitter.com/WVx3E71nyD
— John McAfee (@official McAfee) November 29, 2017
“As I said Bitcoin to the end of 2020, with a $ 500,000 advance, I used a model that said the end of 2017, $ 5,000 in advance. BTC has developed much faster than my model assumptions. I predict Bitcoin at $ 1 Million by the end of 2020. I will always eat my dick if I’m wrong.“
– John McAfee (@official McAfee) 29. November 2017
Investors need to care and caution
With all these speculations around the crypto currency market, it is important that the crypto-currency investors are aware of the risks associated with investing in this extremely volatile market, and that they inform themselves about the underlying technology behind the Blockchain. Only invest money you can afford to lose, and it is a good strategy to diversify its Portfolio to minimize risks. If your currency in terms of Crypto and the Blockchain-world, this article is a good introduction to some key concepts and technologies behind the Blockchain.
Not everyone is set against the market negative
The report by Yahoo Finance also mentioned several quotes from other big names in the industry, have more optimistic expectations regarding the future prices of the crypto-currencies.
The co-founder of Ox, said Warren: “After we track in this area since 2011, we have seen a number of different cycles of interest in which a large number of people for the technology of start and the price is kind of up and down moves. The market lets off just a little steam. I think that the market is likely to be a healthy consolidation phase, but I believe that the long-term Trend will be a greater spread of Bitcoin and similar technologies.
Overall, the future Trend of the crypto-currency market can not be said due to its natural fluctuations accurately predicted, and investors need when investing in these with caution. It avoids to put complete trust in the views and opinions of others within the Blockchain Ecosystem.
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This article was from English into German:
Senior IT Consultant and Crypto Enthusiast always in search of interesting news.