The growth of bitcoin has been unprecedented. The only thing that stopped its price increase was that of the massive sell-off that took place last week. Yet, most say that these sort of corrections are good and will help it bounce back into higher realms next year.
The faith of some may have been shaken, but it’s not always rosy in cryptoland, and most who have been in it from the early stages know this fact intimately. One must have strong convictions in this arena or be slain by self-doubt.
However, there is a potential that many might not check twice before believing in price predictions for the end of next year, December 2018.
Investors might think of a conservative number for the increase in value and might place it at a less crazy number in the coming year.
Ronnie Moas Predictions
Moas, an analyst in the field who has been on point with his expectations for the growth of the currency, conducted an interview with Cointelegraph and had a couple observations on the price of Bitcoin moving forward.
Moas is holding strong to his faith in the pioneer cryptocurrency and still believes that Bitcoin will be the one to rule them all in terms of being the most valuable currency on earth.
He is certain that the market capitalization of Bitcoin will fly past that of the economic powerhouse in the east, China, and the current storehouse of value, Gold.
“Bitcoin would have to jump 20x from where it is now to hit that number one spot. That would put its valuation at around $6 tln, which is near where Gold and China are right now.”
“Why do I think Bitcoin deserves the same valuation as gold? It’s very simple, I don’t know how much Gold there is in the ground, But I know how much Bitcoin there is, and I also know that if the current pace continues with one to two mln people around the world opening up new crypto accounts. We will have a few hundred million people by this time two years from now trying to get their hands on a few million Bitcoin that are available.”
This means that the analyst is primarily looking at Bitcoin from an economics standpoint, he’s looking at the current maximum supply and looking at how many more people can benefit by opening up accounts and taking part in the financial revolution.
A few factors that he noted were, the Bitcoins that have been lost for eternity, then, those investors who will never sell and will continue to hold, treating their Bitcoin like its digital gold. The investor and bitcoin hodler thinks that Bitcoin will hit 28,000 by the end of 2018.
What does 2018 look like for the growth of Bitcoin?
Well, we are going to be seeing an implementation of Segwit2x within this week and we are also going to be seeing deployments of the lightning network and other factors that could make Bitcoin stronger. Then there are other movements that are taking place with governments and how they are opening up to cryptocurrencies, slowly but surely, so 2018 looks like it could welcome a lot of growth.
The sector has barely seen the touch that Wall Street can bring to it as well, so there are a lot of opportunities for growth.