Bitcoin’s Price Will Surpass the $100,000 Mark by Mid-2018
Originally, the dominant Bitcoin price prediction was that Bitcoin would reach the $14,000 mark by mid-2018. However, recent developments have blown that prediction out of the water, and optimists are hoping that Bitcoin will break through the $100,000 barrier within the next year. In fact, some people, including CNBC’s Jim Cramer, are predicting that Bitcoin will go as far as shatter the million dollar threshold one day.
Is difficult to say if it can really reach $100,000 per coin. Market capitalisation should be 1 trillion USD just on BTC to reach $60,000 per coin. Now the entire market cap is at $700 billions. Considering it was $170 billions 3 months ago, is not that impossible, don’t you think?
As farfetched as these forecasts may seem at the outset, they aren’t completely implausible, seeing as Bitcoin’s price has been doing the impossible for the past few months. Additionally, upon taking a closer look, you will come to realize that these optimistic Bitcoin price predictions for 2018 may have some ground. For one thing, the growth of the amount of daily transactions using Bitcoin has outpaced the currency’s price hike by a factor of 100! In other words, if the value of a Bitcoin has appreciated about 20 times over the past year, the concurrent amount of trades has increased about 2000 times. Nevertheless, there is still plenty of room for growth, which translates to a higher adoption rate and justifies the expected price increase.