Bitcoin has been on a rollercoaster ride for much of its existence. Along with the rest of the digital assets market, BTC has experienced several bull markets and subsequent crashes. Predictions on the future prices of these digital assets are usually all over the place.
But after a long crypto winter, it seems spring may finally be in bloom. The overall attitude has gone from doom and gloom to hope and a lot of experts are guessing that the price may explode at any time.
A popular cryptocurrency trader and social media personality, @Crypto_Bitlord had previously predicted a much smaller number. But now he has adjusted his guess.
Upgrading my $7k EOY $BTC target to $65k
-That’s only 10x from here
— Crypto ฿itlord ?? ?? (@Crypto_Bitlord) May 7, 2019
He’s not the only person predicting exponential growth in the near future. John McAfee has of course stuck to his prediction of 1 million USD, insisting that we stop applying stock market math to the original digital asset.
Fundstrat’s Tom Lee has also joined in on the bullish prediction parade. Lee, however, contributed a much less dramatic prediction of returns to all-time highs by end of the year.
One of the reasons for the recent bullish sentiments is the much-anticipated arrival of major financial institutions. Fidelity just announced that they will soon launch a cryptocurrency trading service.
As major institutions continue to march into the cryptocurrency space, investing in Bitcoin will not only become mainstream but expected and even necessary for large portfolio holders.
Still, keeping with tradition, there is always those predicting more dips. Some say they see the price of Bitcoin testing the $4000 range. Another fall could definitely stunt the growth of any Bull market, but with so many positive developments emerging in the space, it’s easy to see the price soaring before the end of the year.
