Kelly Robertson
Everyone knows Bitcoin has hit and surpassed the $4,000 mark, and some are wondering can the popular cryptocurrency go beyond that to eventually hit the next major milestone – $5,000.
The news comes at the time when the blue chip brokerage house Fidelity has allowed its customers to check out their digital assets through Coinbase integration, further cementing Bitcoin as a viable store of value.
Bitcoin will hit $5,000 this year!
This was recently predicted by Ronnie Moas, founder and director of Standpoint Research.
“In my view, the genie is out of the bottle, and cryptocurrencies will continue to rise and take market share away from stocks, other precious metals, bonds and currencies,” he told CNBC at the end of July. “I think investors should take a shot on this and hold for a few years. If you lose a few bucks, at least you took a shot.In life, you miss every shot that you do not take. It will probably be more upsetting to watch it (from the sidelines) go up another 1,000%.”
Aurelien Menant, founder and CEO at Gatecoin, shares this optimism. “Uncertainties in other markets are driving more and more interest in Bitcoin,” he told Bloomberg. “Another factor that is very important is the arrival of more and more institutional investors.”
Or even more?
If $5,000 projections are not “good enough” for you, perhaps you want to know what a rather famous Bitcoin trader known as “masterluc” predicts.
According to him, the rise in price of Bitcoin goes in waves and so far he predicted two major waves. He added that we are in the midst of a new wave which started in May (it actually started in March) that will last for two years.
Masterluc thinks that Bitcoin could be worth as much as $15,000 by 2018, and eventually reach a price in the $40,000 – $110,000 range by the end of this run, which will happen at some point in 2019.
What we think?
We restrain from offering any investment advice and can’t be held responsible for any move you make based on this or any other article on Wallet Weekly.
Nonetheless, we are proud to walk the talk and have been buying Bitcoins before this latest run. Chances are we’ll do it again in the near future as all signs keep pointing to its further appreciation in value.
The world’s uncertainty works to Bitcoin’s favor and since we can’t see the world becoming a much better place in the near future, we expect Bitcoin (and other cryptocurrencies for that matter) to continue gaining traction. However, we don’t think Bitcoin will hit the $15,000 mark though; but we have already placed our bets on the $5,000 figure; and can’t wait to reap the rewards. 😉
Should you join the party?
In a word – YES! The good thing is that you don’t have to spend a small fortune and/or place all your eggs in one basket. The fact that the price of Bitcoin has been growing like crazy in recent month has also made other cryptocurrencies more interesting to buy. Even better, as many of these so called “altcoins” are not as expensive as Bitcoin, they make for easier investments, with some of them even promising higher returns (percentage-wise). This in turn presents the opportunity for just about anyone.
Again, we advise you to do your research before committing a single penny of your hard-earned cash. And only then vote with your money. Good luck! 😉
