As bitcoin starts off 2018 continuing its volatile run with a dip below $15,000, one of the markets biggest bulls says that a $50,000 future for the cryptocurrency is highly probable.
Spencer Bogart, a partner with Blockchain Capital, said in an interview on CNBC that he expects digital currency to continue to perform as long as both retail and institutional investors dive in and stay put.
Focusing on the institutional side of the equation, Bogart indicated that “institutional ownership is still effectively zero percent, so there is a lot of room for upward movement here … The drawbridges for institutional pools of capital have just been lowered.” The bitcoin bull highlighted new derivative products, suggesting that institutional investors that want to play in the market will wait on the sidelines until they see this first round of products function, later evolving and maturing to “become a deep market.”
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not possible if Bitcoin's speed don't increase or the fees get reduced
The banks are controlling bitcoin
I think it could, but 50k would be the ceiling for this year.
Nope don't think so. Not with the banks sabotaging it by limiting block size and speeds. This was why bitcoin cash was forked off to combat this, and is the original bitcoin . Ask yourself this folks, if banks hate cryptos then why are they recommending ripple?????
Don't believe me look it up for yourself and you will see. The banks have bought bitcoin
$50,000 is possible. It depends on numerous factors though. Some type of news needs to come out. ETFs, Lightning Network, a new for (think Bitcoin Cash not Bitcoin Gold), etc. Bitcoin has been resilient and I believe it will be king. However, sometime in the (near?) future could see a prolonged pullback. Look at the charts from 2013-2016. With the popularity of this new asset class, I can't see a long drawn out bear market, but we could see periods of low prices. Someday (or year), when the supply of Bitcoin gets lesser and lesser, the price will begin to stabilize. For all us investors, let's hope that stabilizing price is nice and high.