Year End Bitcoin Price Projected To Fall Between $12,5000 And $15,000 According To Trefis Research
It’s happening all over again for the cryptocurrencies again, at least for the major coins like Bitcoin and Ethereum.
Most of the major coins are remaining mostly unchanged as we go into Wednesday’s trading. Even though there was a type of mini-rally that occurred, most of the bigger coins stayed within their short-term ranges.
There has been a major lack of activity as well as the near inability to stabilize from the huge losses which occurred earlier in the year (2018). The issue caused the concern of research company Trefis, leading them to drop their year end price target for Bitcoin. They have officially,
“Adjusting our forecast for transaction volumes in our interactive Bitcoin Price Estimator now leads to a year-end price target of around $12,500—down from our earlier estimate of $15,000,” stated Trefis just yesterday on June 5th in their research note.
The worldwide cryptocurrency community has recently shown a mass of new developments since end of the year 2017 in December. Many of the developments left a bad taste in the mouth o the several communities throughout the industry. The growth impact on the cryptocurrencies all over the world was negatively impacted, causing banks to serve restrictions to credit cards that were being used to purchase the currencies. The financial regulators were forced to raise caution with cryptocurrencies when it comes to their investors spending money on them.
Trefis Research, has a Price Estimator that tracks the current price trends for cryptocurrencies, using two basic inputs; the number of daily active users and the number of the daily active transaction volumes.
This is according to information posted directly on the website of the major research company, Trefis. Not only that, but according to them – their predictions have an accuracy rating of more than 94%.
And as of today, one BTCUSD, -1.58% was lassst valued at $7,622.43. This is a number that has remained unchanged since Tuesday at 5pm Eastern Standard Time on Kraken Cryptocurrency Exchange.
The number helps to solidify the Trefis Research Company’s predictions about Bitcoin’s end of the year value.
No matter how the December 31, 2018 coin price of Bitcoin is, this might have a good shake up in the current pricing and ruffle the feathers of a few altcoiners and ICO-token buyers.