After weeks of being on the red, Bitcoin is finally recovering, gaining more than $1000 in value over the course of just two days. And, according to some analysts, it won’t stop here, as it could reach even $25,000 this year.
According to Fundstrat managing partner Thomas Lee, cited by Forbes, there is still potential in the world’s largest cryptocurrency, in terms of market cap, but still, to reach this price point, the coin needs to climb a lot.
BTC, to triple its value?
Specifically, we’re talking about 200% from the coin’s current price, of almost $7,900. But this is not impossible, considering the volatility of the market. Also, several analysts share the same opinion, claiming that the cryptocurrency could go through a real rally this year.
“I see BTC closing the year around the $25K mark and hitting that price sometime before Christmas 2018,” says Seth Wiener, managing partner at University Capital Group LLC. He also talked about a couple of developments, expected to affect the market in the upcoming months.
“Some point’s worth considering are Wall Street’s renewed interest in Crypto, the number of new institutional investors and investment firms plus involvement from iconic families led by George Soros and the Rothchild’s are huge positives.”
The regulations are starting to…become good
Basically, the main reasons why investors and analysts are so optimistic regarding Bitcoin’s future is the fact that the regulations surrounding all digital currencies will eventually mature. Governments are expected to offer more support for the major cryptocurrencies, as 22 European countries have already signed an international blockchain partnership. Besides, let’s not also forget about the increased public understanding of blockchain, which could result in another boom later in 2018.
On the other side, let’s not forget about the market’s volatility. Not once, a single story, emerged even from unverified sources, had a big impact on Bitcoin’s price and eventually influencing other cryptocurrencies. And by a big impact we’re referring to a serious price drop. But hey, who knows what the future has for BTC!