After a brilliant recovery rally this year, the price of the largest cryptocurrency bitcoin had recently returned somewhat. But one expert believes the price of bitcoin can more than triple by the end of the year.
Although the crypto market had recently started to be somewhat disillusioned after the clear recovery trends of the past months, the group of bitcoin bulls remains unshakeable. One of them is even expecting new highs this year.
Bitcoin rallye to stop at $25.000 ?
The crypto expert Oliveer Isaac explained to the British newspaper “The Independent” how he thinks the crypto market will continue in the coming months. He was quite optimistic, especially for the price development of Bitcoin. that’s how it goes. 80.6% of CFD retail accounts lose money. – The world’s largest cryptocurrency could climb to 25,000 US dollars by the end of the year. This would mark a new record high for the digital coin, which had reached a previous high price of around US 20,000 US dollars in December 2017.
Positive environment for cryptos
The expert points to the currently positive circumstances prevailing for cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin & Co. “There are several reasons for the recent resurgenc. There are geopolitical, technological and regulatory reasons,” Isaacs said. In his view, the effects of the trade war between the US and China have also “led to the sudden interest in bitcoin as a hedge”. Added to this is the fact that a growing number of investors regard bitcoin as a safe haven, thanks to improved legal status and better regulatory oversight. In addition, it is also corporate giants such as Microsoft, Amazon, Starbucks and Whole Foods that are opening up to the crypto world and are now considering bitcoin as a means of payment.
All these factors contribute to better market penetration and establishment of cryptocurrencies.
Other experts are also confident
With his price forecast for Bitcoin, Oliver Isaacs is even below the estimates of other bitcoin bulls. For example, Tim Draper recently confirmed his price target of USD 250,000, which he estimates will reach the world’s oldest cryptocurrency by 2022. The expert considers the current market situation to be a favorable entry point. The expert recently advised investors to see the rebound as an opportunity.
Crypto expert Erik Finman has also identified enormous potential in cryptocurrencies, recently declaring that anyone who is not a billionaire with crypto assets in ten years’ time is “self-inflicted.”
Crypto-bull Mike Novogratz also expects a positive price development in Bitcoin in the medium term, but is much more grounded than his colleagues. He expects the cryptocurrency to initially consolidate in the range of between 7,000 and 10,000 US dollars.