Crypto Predictions: When Will the Crypto Market Recover?
What expectations do you have for the Crypto market in 2018 and beyond? Do you think Cryptos aren’t driving anymore, or do you think the market is on its way back like a dark horse, ready to gallop to unimaginable heights?
In this article, we’ll take a look at past and present predictions to see what the industry’s great minds think will be happening in the Crypto-arena in the nearest future.
Can Market Moves be Accurately Predicted?
Obviously, only to some extent. No-one can predict Crypto market prices with 100% accuracy. Every prediction is mere speculation based on certain recurring patterns and influencing factors. You also need to remember not to worry too much or try to predict every single move. It’s important to the point of being aware of the major trends to avoid the biggest risks, read losses.
The good news is that we’re all in the same boat. All of us know the same things (unless you have superpowers and can see the future – if so, please get in touch!)
Still, some predictions can turn out to be quite accurate, as you’ll see from the examples below.
First off, how accurate were the predictions made for Bitcoin and other Cryptos a couple of years ago, before these digital wonders experienced a breakout and reached their all-time highs?
There are many examples of the key industry players having predicted great times for Crypto holders in 2017, and unless you’ve been living under a rock, you’ll probably know very well what happened towards the end of 2017.
For example, Kay Van-Petersen, an analyst at Saxo Bank, said in December 2016 that Bitcoin would reach $2,000 in 2017… which it did, in May 2017.
The exact same prediction was made by Don Tapscott, co-founder of the Blockchain Research Institute.
Pretty impressive, don’t you think?
Future Predictions for the Crypto Market
The main prediction for 2018 is that the Crypto market cap will continue to grow as blockchain technology will become publicly accepted and established in real-life applications.
No matter how much cold water has been poured over Crypto market analysis, leading experts remain on the positive side about the market. Blockchain is finding more and more ways into our lives and more reserves are moved into Crypto assets. At the same time, innovative and wise nations are likely to launch their own cryptocurrencies, which could be the start of a new era. This, by the way, is not mere speculation, and here’s why.
For example, William Dudley, President and CEO of the Federal Reserve Bank of New York, announced last year that the Fed was nourishing the idea of creating its own digital currency. Coincidentally, Dudley is not the first Federal Reserve Bank official to address the increasing popularity of Bitcoin.
Also in 2017, Estonia was considering plans to expand upon its e-Residency program with Estcoin – Estonia’s own digital currency. If this became a reality, the country would become the world’s first to complete an Initial Coin Offering (ICO). Estonia is one of the most technologically advanced nations today and wants to remain on the cutting edge now that Cryptos have become too big to ignore… It’s also the home of CoinMetro, so it’s slap-bang in the center of the crypto-verse!
Moreover, it’s known that China has already tested its own coin, and Russia demonstrates a big interest in Ethereum, which is only logical considering the fact that Ethereum was developed by a Russian-Canadian programmer Vitalik Buterin.
Cryptocurrency Predictions for 2018
There’s still time before we say goodbye to 2018, and anything could happen in the next four months. Predictions seem to vary greatly.
Former Fortress hedge fund manager Michael Novogratz said in 2017 that Bitcoin could reach $40,000 by the end of this year.
Do you want to know what Van-Petersen, who we mentioned earlier, predicted for Bitcoin in 2018? According to the analyst, the “digital gold” could hit $100,000 in 2018. The reason behind this potential enormous rise? A larger uptake of institutional investors and futures contracts.
Van-Petersen is not the only one to put a stake at the incredible $100,000. Forbes had predicted the same thing a month beforehand.
Bitcoin’s current price sits at $7,082.61. Will it soar all the way up to $100,000? Only time will tell.
Predictions for 2019 and Beyond
One of the main questions on the minds of Crypto-heads is whether Bitcoin will remain the mightiest coin in the market in terms of price, transaction volume, and market cap going forward.
The future price development of Bitcoin or any other altcoin will largely depend upon how governments react to digital money in general in terms of regulation, taxation as well as the widely discussed issues of money laundering and terrorism financing.
Here are two exciting predictions for 2019… Wallet Investor predicts that Bitcoin will reach $36,000 USD by the end of 2019. Personal Loans’ Bitcoin prediction for 2019 says that BTC will reach a price of $207,000 USD at some point in 2019.
To look even further down the long Crypto road, some predictions are very bold (or not bold enough?). One of the directors at PayPal, Wences Casares, claims that Bitcoin will hit $1m in 5-10 years! John McAfee’s prediction is slightly less challenging – $500,000 within the next 3 years. Imagine that!?
It’s hard to even think about the probability range of such long-term predictions as the Crypto market is changing too fast.
Let’s find out what you think! What’s your prediction for 2018, 2019, and beyond? We really want to know and encourage you to start a discussion and reply in the comments section of this post!
Interested in reading more? Check out CoinMetro’s blog, updated three times a week (at least!), for insightful and easy Crypto-related reads!
‘Till next time!
The CoinMetro Team