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Bitcoin Faithfull’s Predict Record high in the near Future

Bitcoin Faithfull’s Predict Record high in the near Future

Bitcoin prices have been a big disappointment in the first half of 2018 and sentiment remains pessimistic among casual investors. However, for bitcoin Faithfull’s, prices of cryptocurrencies are expected to climb up and beyond $20,000 BTC achieved in 2017.

Evangelists see high growth

Coinist believes their currency will exceed $1,000,000 in the next 20 years as the prices for coins such as Bitcoin are not ‘fundamentally” correlated to $&P 500 index.

According to one coin guru who has been tracking and predicting high coin prices, Chamath Palihapitiya of Social Capital, “Bitcoin was $130 when I wrote this and suggested everyone put 1{da26b64292448cae047fdcafabcc53ed6814016a2f2689391ec3e81b666ab4a0} of his or her net worth in it. Now, I’m convinced it will exceed the value of gold.”

Tom Lee is the other bitcoin faithful, who heads Fundstrat Global Advisors. Lee too predicts the price of bitcoin to ‘great store of value,’ claiming an astonishing price value of $20,000 by close of 2018.

BKCM LLC founder, Brian Kelly also believes that it would not be only one coin soaring in value all the way to the top of exchanges. It is his expectation the prices of two coins would have great growth – bitcoin and ethereum. However, he places more faith in the technology that is adopted by the latter. He asserts that ethereum will have a bull run over bitcoin.

Digital Gold

While the other three bitcoin gurus predict the prices of cryptocurrency will grow and achieve high valuation, there are other experts who analyze its worth in terms of the gold. Experts such as OnChain Capital’s Founder and CEO, Ran Neu-Ner prefer to call bitcoin as the future of cryptocurrency. In his view, the coin has all the characteristics of the universal metal gold, in terms of its value. For Neu-ner bitcoin is the default ‘digital gold.’

The founder of OnChain Capital also sees the cryptocurrency market as yet at its meta-state. The alternate coin markets are yet to achieve full maturity; he argues since the fundamentals are yet to fall in place. In his evaluation, the alternate coins which will set up the markets for the long term are yet to make their presence felt. The neu-ner analysis that without the final cryptocurrencies “lined-up” the final determination of the industry will be a challenge. In February, the bitcoin specialist said bitcoin itself is in its early stages of development. Thus, only after the participants or the coins which will emerge from this meta-stage is finalized, will there be any valuation growth.

Despite the philosophy of bitcoin being at the toddler stage, he continues to invest long-term growth potential in this coin.

Artificial Gold

While blue-blood bitcoin buyers stand by the new age currency in terms of its value as a trading option, the old guard continues to be skeptical. The traditional investor community as personified by Berkshire Hathaway continues to ridicule the alternate currency theory. They cite bitcoin as an example for ‘worthless artificial gold,’ the company representative Charlie Munger was quoted by CNBC in May.

Bitcoin investors are divided over the rate of growth and do not debate on the aspects of it’s artificial’ or ‘virtual’ form factor. For the Faithfull’s of bitcoin, there is value, and for some like Neu-Ner, the value is as high as “digital gold,” while Lee believes the end of 2018, would see BTC at a fancy $20,000.

About the author

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Leon Gaban

Leon is a FullStack Developer, Cryptocurrency Investor, Global Citizen who wandered into Blockstream, and is currently trying to produce a prototype and spec for bitcoin lightning. To know more about Leon, follow him on Twitter.

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