Bitcoin Foundation’s Llew Claasen Predicts BTC Price At $40,000 While 90% Of Crypto Market Tanks
A Look At The Bitcoin Price Predictions Of 2018 By Prominent Personalities In Crypto Space
History is the evidence that most people making predictions about Bitcoin usually end up wrong. However, that does not stop people from doing so.
Given below are a few predictions by eminent people in the crypto circle who have recently said some words on this highly controversial topic.
Llew Claasen who is the executive director of Bitcoin foundation recently stated that he expected Bitcoin to hit $40,000 by the end of this year. He further added that 90% of the cryptocurrencies will actually fall. According to him, most of the cryptocurrency projects will actually turn out to be scams. Many of the management will not be able to control the risk involved in cryptocurrency projects. This is the reason why the majority of the cryptocurrency tokens will actually turn out to be scams.
He further adds that this is actually a lesson for the cryptocurrency community. With the increased safety as well as precautions, it will be easier for the cryptocurrency experts to learn from these mistakes. Moreover, the exchanges will also be able to learn from these mistakes which will ensure that the cryptocurrency community becomes much more secure.
There will be a significant amount of volatility before Bitcoin actually hits those levels. It seems like, many of the investors, as well as cryptocurrency enthusiasts, are actually positive about Bitcoin in this very year. The problem is that with a significant fall already seen, most of the retail investors are not pumping money into Bitcoin. This is the reason why the movement is not that strong currently when it comes to Bitcoins.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last year’s prediction of $7000 which was well surpassed.
Bitcoin Price Prediction Tracker portal, Bircoin.top, did the maths and explain that Bitcoin needs to grow daily at 0.4840957034310259% per day to meet McAfee’s prediction. Currently, Bitcoin is around $ 8,207 compared to $ 7,171. Pretty accurate. However, to hit McAfee’s target, BTC would end the year just over $29k.
The Swiss-based financial expert will have us brace up for a decade of turbulence before any hope for a stable bitcoin. He suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement but a viable alternative.
The finance expert sees Bitcoin investments as all-too-similar to the DotCom bubble of the 90s. In the short-term, falls have been driven by emotion and in many cases disinformation – a small rumor can have a big impact. Demand is driven by market speculation, but the absence of institutional investors means the market is unstable.
The Harvard professor and ex IMF chief is known for his disparaging remarks against Bitcoin, a former chief economist at the International Monetary Fund’s (IMF) Kenneth Rogoff have poured icy water on hopes of Bitcoin making it to the moon.
“I think Bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now…I would see $100 as being a lot more likely than $100,000.”
Rogoff’s prediction is based on his long-held belief that governments will rise against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.
In 2014 with bitcoin at only $413, popular VC, Tim Draper predicted bitcoin to reach $10,000 in three years. This was fulfilled a month earlier than he predicted earning him a reputation among crypto fans. Though he didn’t categorically, predict a $100k Bitcoin in 2018, He said he expected the Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype, and Twitter in the past.
Assuming this growth happens at the same pace as the 3-year journey to $10k then we’re in for six digits, which is unbelievable. That’s exactly how Draper feels about Bitcoin prospects. Now onto someone who understands a lot about bitcoin’s foundation.
Bobby Lee, CEO of China’s first Bitcoin exchange, BTCC Exchange, speaking at the London Blockchain Week went overboard with his prediction. Lee said bitcoin will surpass $1 million but unlike McAfee, he could see this happen in 20 years’ time.
“Bitcoin, I think will get to $1 million per bitcoin…Right now it’s 10,000, it will go 100,000 and then 200,000, 500,000.”