Bitcoin finally hits the moon, now will it reach the stars?
Why is Bitcoin rising?As more and more people learn about the benefits and disruptive nature of bitcoin, more and more people are jumping aboard the crypto-train. People are starting to understand the value of digital money, and thus the price of bitcoin is sky-rocketing. We often forget though (or perhaps we fail to realize), the cryptocurrency market is still incredibly young - and relatively small. Apple alone has amarket cap just under $900 billion, with the whole of the cryptocurrency marketworth $332 billionat the time of writing. So what does that mean for bitcoins future? It's a matter of supply and demand... and there is a finite supply. It's clear now that people want in. With that said, it's likely just reaching critical mass. Mass adoption here we come. :)
How high will Bitcoin go?After rising so much in 2017 it's hard to imagine, grasp or believe how high it can actually go in 2018 and beyond. There is a lot of speculation going around with people throwing in radical predictions varying between $25,000 to $250,000. To name a few:
- Michael Novogratz, former hedge fund investor, claims bitcoincould 'easily' hit $40,000 in 2018.
- John McAfee predictsbitcoin is headed to $500Kby the end of 2020.
Still not convinced? With rumors of Wall Street investment, and futures markets opening up - one thing is clear - 2018 is going to be a really big year for bitcoin.
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 will still eat my dick if wrong. pic.twitter.com/WVx3E71nyDJohn McAfee (@officialmcafee) November 29, 2017