Finally, on Thursday, January 18, bitcoin, as well as its ilks, started recovering step-by-step after a terrific correction, which occurred on January 16. That day has already been termed as the ‘Black Tuesday’. Anyway, as bitcoin again stepped on the path of growth, gaining back 15% in value, there appeared more expectations concerning its positive potential.
For example, Tom Lee, bitcoin’s earliest Wall Street Bull, believes that after the crash the coin will go forward even better, reaching the margin of $25,000 by the end of 2018 and $125,000 by 2022, according to CNBC. Albeit, another analyst a week before the correction predicted that bitcoin would break the record of $100,000 already this year.
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Prediction That is Tough to Believe In
Kay Van-Petersen, the expert at Saxo Bank, is the one who forecasted BTC’s 2017 BTC skyrocketing up to $2,000. The prediction was made back in 2016 when bitcoin’s price was less than $900. This time, he said that BTC could increase till $50,000-$100,000 already in 2018. Interestingly, earlier the analyst was saying that it might take bitcoin around a decade to get to this level.
"First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts," Van-Petersen explained.
So if bitcoin is traded at around $14,000, it would have to climb up by about 630% to reach Van-Petersen’s prediction.
The analyst, who piled into a wide variety of virtual money, also emphasized that altcoins would also show excellent results as well. According to his words, even though ethereum appeared after the ‘Big Daddy’, its dominance comes farther. The main point is that ethereum’s developers did better at resolving the scalability problem.
In the meantime, after a severe correction, ethereum is showing a 19% growth, outperforming bitcoin in the recovery rally.