Ever since Bitcoin hit the ATH mark of $19600 in December 2017, some experts have been super bullish about the cryptocurrency. The price slippage of Bitcoin in the weeks that followed left the community and investors in shock. Many investors entered the market “too late” to make any profits and are either holding on or have cut their losses.
From the beginning of the year, some Bullish investors have predicted the Bitcoin Prices or the Up trend and have been wrong or seems very unlikely now. So just for fun, I decided to dig some of the predictions that the crypto market seems likely to dishonour or have already done that by now.
Remember, we are only looking at some predictions of High BTC prices and the news articles that reported it. The predictions made in June are far more conservative than those made in January. The exercise to understand that, Cryptocurrency is still a very small and speculative market and analysts can be wrong most of the time.
January 2018 Predictions
In January, Bitcoin prices were slowly correcting from its ATH value but experts were super bullish on the prices. What did the experts predict?
- Kay Van Peterson from Saxo Bank and Dave Chapman from Octagon Strategies predicted Bitcoin to hit $100k by the end of 2018. Source
- Julian Hosp from TenX predicts Bitcoin to hit $60k by end of 2018. Source
- Xoel Lopez Barata used Simulations to determine the BTC prices for 2018 and he came with the range of $13200 to $271277. That’s a very long range and yet BTC prices are far below the minimum today. Source
- Palwasha Saaim on Profit Confidential has put a target of $20000 for BTC by the end of 2018. Source
- Jeet Singh predicts BTC to reach $50000 by end of 2018. Source
February 2018 Predictions
February this year washed off a lot of bullish theories on Cryptocurrency prices. Bitcoin lost 50% of its value from January. Trading over 14000 USD in January, Bitcoin was now at $7000 in February. However, in the same month Bitcoin rallied back upto 11000 USD before crashing the following month.
Most news feed on Bitcoin prices were negative in nature and some had corrected their predictions. This is what the analysts predicted in February.
- Fundstrat’s Tom Lee Predicts BTC will reach $20000 By mid year and $25000 by end of 2018. Source
- A survey of 12 Financial Analysts Predicted BTC Prices to be at $15500 by July 2018. Source
- Palwasha Saaim changed the BTC price target to $15000 from $20000 by the end of 2018. Source
- A report published with analysis from 9 investors predicted Bitcoin to reach $14928 on March 1, and $43472 on December 31, 2018. Source
March 2018 Predictions
By the end of March, BTC prices were already below $7000. All the bullish theories from December 2017 and January 2018 were now looking difficult to match. But the market analysts were not giving up on it. Lightning network was being pushed. John McAfee was making huge predictions. The headlines were all over the place
- John McAfee revised BTC price prediction from $250k to 1 Million by the end of 2020. Source
- A survey of analysts claim BTC prices will soar past $29000 by the end of 2018. Source
- Palwasha Saaim maintained the earlier prediction of $15000 by the end of 2018. Source
- A Survey by Finder.com revealed that Bitcoin Price may be over $43000 by December 2018. Source
April 2018 Predictions
While people had already started to lose hope on Bitcoin prices, the prices saw an uptrend by the end of the month. Back in India, the country’s central bank has announced a decree to virtually ban cryptocurrency. The analysts were once again hopeful and the newsfeed was pull of positive high value price predictions
BTC touched $9500 in the month of April from slumping to $6500 in March.
- Cryptocurrency investor Tim Draper predicts $250k price of BTC by 2022 and $25000 by the end of 2018. Source
- John Pfeffer, a partner at his London-based family office Pfeffer Capital predicts the price could go to $700k, no time frame though. Source
- Pantera Capital’s Dan Morehead calls for $20000 by the end of 2018 and $6500 as the bottom for BTC. He already has been proven wrong about the bottom as BTC reached $5900, the lowest point in 2018 this week and is trading at $6200 at the time of this writing. Source
- Palwasha Saaim did not predict BTC price but predicted LTC price to go to $400 in 2018. Source
- Popular Youtuber and analyst Philakone predicts $38000 by the end of 2018. Source
May 2018 Predictions
By the end of May, Bitcoin prices have been steadily declining and there seems to be no recovery. Some analysts started predicting prices for 2019 instead of 2018. Some stayed Bullish and some stopped commenting all-together. What was in the news in May 2018?
- Max Keiser, a long time BTC investor predicted BTC to hit $28000 ATH in short term and $100k in long term. Source
- Trace Mayer, famous for using his Mayer Multiple analysis to predict the price, says Bitcoin can hit $115k by end of 2018. Source
- Tom Lee holds on to his prediction of $25000 by the end of 2018. Source
- Nicholas Merten, a popular youtuber predicted $50000 by end of 2018. Source
- John McAfee Predicts $15000 by end of June. Today, June 26, BTC price is ~ $6200. Source
- Spencer Bogart, a Blockchain investor predicts Bitcoin will be higher than $10000 by the end of 2018. Source
June 2018 Predictions
We are in this month now and BTC still hasn’t stopped slipping in price. BTC did not meet any of the mid-term predictions of 2018 and definitely lost the bottom that was expected as well. So what are the experts saying now?
- Finder’s forecast released this month put a end of year value of Bitcoin to $14638. Source
- Stock analysts have reduced the forecast to $12500 by the end of 2018. Source
- Todd Gordon, founder of tradinganalysis predicts BTC to drop to $5000 and close over $10000 by the end of 2018. Source
- Analysts put values of Bitcoin from $91000 to $1 Million for 2020. Source
What do you think of the predictions? Let us know in the comments below