Estimated reading time: 3 minutes, 0 seconds
Back in November of 2017, we published Prophets of Profit: 4 Bold Bitcoin Price Predictions For The Future. The article featured some of the most optimistic price forecasts for the world’s most recognized cryptocurrency.
When the article published, bitcoin was surging towards its current all-time high of roughly $17,500 (USD), which it reached in December of 2017. Since that time, the industry-leading cryptocurrency has cooled off significantly. At present time, one can purchase a bitcoin for a little over $9,100.
While the worlds 1st crypto has struggled in recent months, there are still plenty of bitcoin bulls to be found.
With that in mind, here are three people who are still loudly and proudly banging the Bitcoin drum.
Note: “This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.”
Those who read our first feature will likely remember the outspoken anti-virus pioneer predicting that a single bitcoin would be worth $500,000 by 2020. However, he made the prediction with a model that had the popular crypto priced at only $5,000 by the end of 2017, an amount it far exceeded.
With bitcoin having already surpassed his targeted projection, McAfee decided to double down on his prediction. In a Twitter post, from late November of last year, he wrote,
“BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020.”
The former Libertarian presidential candidate remains one of the cryptocurrency’s most outspoken advocates.
Xoel L López Barata
Data Scientist Xoel L López Barata believes that bitcoin is in for a big year in 2018.
Barata used a method known as the Monte Carlo simulation to predict the coin’s future price movement in 2018. The simulation operates under the assumption that past behavior will be similar to future behavior and uses data to create random walks.
According to his findings, BTC could go as high as $55,000 in 2018.
Though Barata also warned those who might consider using his findings stating,
“It’s important to note that this estimation doesn’t have to be taken to the letter, and it’s better used as a way to find confidence intervals on where the future distribution where be.”
Van-Peterson is an analyst for Saxo Bank who has had some success predicting bitcoin price movement in the past.
In December of 2016, when a single BTC was worth around $900, he went on record as saying bitcoin would reach $2,000 in 2017. As many of us are well aware, it had already exceeded the bullish analyst prediction by May of last year.
In a recent CNBC article, he was quoted as saying,
“First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts.”
Due in large part to increased interest from institutional investors and the futures contracts, Van-Peterson believes that a single bitcoin could be worth as much as $100,000, as early as this year.
Check out our previous Bitcoin Price Predictions coverage here: Prophets of Profit.
To read up more on cryptocurrency, check out our WTF is Crypto Guide, and if you are interested in Bitcoin, we got you covered there too! If you want to learn how you buy some BTC, here we provide you with many ways!
Finally, there are many people helping progress blockchain technologies in different industries. Our series Moving the Chain, by the wonderful author Jacques, covers these people who are making a big difference in the space and the world!