Bitcoin has undoubtedly had quite a run in 2018, the tenth year since its inception. The entire cryptocurrency community; ranging from exchanges to developers and investors have been left with a story to tell.
With Bitcoin price resting at $6,410 according to data from Coinmarketcap as of writing, predictions and analysis concerning the big bull’s closing price are still pouring in.
Ignoring the bullish market, Bitcoiners are speculating a possible price pump that lands Bitcoin at $10,000 or higher, between November and December. Spencer Bogart, a blockchain venture capitalist had predicted a round-up of at least $10,000 back in May.
“Could Bitcoin trade lower? Certainly. But do I think it will be higher a year from now? Absolutely… I would bet Bitcoin ends at least above $10,000 in the year.” _ Spencer Bogart.
Quite a handful of predictions from cryptocurrency enthusiasts concerning the closing price have been withdrawn. The likes of Ran Nuner and Tom Lee who predicted a closing price of $50,000 and $20,000 have both withdrawn their speculations. Seeing that Bitcoin has leveled between $5,000 – $6,000 this year, it is nearly impossible that a spike in price will double the big bull’s price.
As such, most analysts are combining the investment rates from institutional investors and the continuous massive adaptation of Bitcoin to speculate that Bitcoin will leap above the $6,000 mark in 2019.
ZyCrypto recently reported that Ronnie Moas, a crypto, and stock trader placed a $20,000 bet against $CVC founder Vinny Lingham, on a closing price of $28,000 at the end of 2019.
Most Bitcoin investors are strongly convicted that the bearish market is a tradition in Bitcoin’s history, noting that Bitcoin has always had a 10 times run up after every cash, a time which most investors believe is best to accumulate.