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Want to predict the future price of digital currency? Hard to be hard

Author:Hubi Date:2018-07-30 13:56:25

The sharp fall in the digital currency market has triggered a lot of speculation in the market, trying to profit from forecasting market volatility. Therefore, many people want to ask, how will the digital currency price go in the future? In this regard, Pauw believes that, like the traditional market, the digital money market has no basis for future price forecasts.

Looking at those who try to predict prices in 2018 and beyond, many are at the extremes of bullish or bearish, even those that are less extreme are in different forms.

For example, including the father of anti-virus software McAfee, the enthusiastic supporter of digital currency John McAfee, CNBC's "Financial mouth" Jim Cramer and the CEO of BTCC Exchange Bobby Lee, predict that Bitcoin will break through the $1 million mark. .

Looking at the other side of the balance, some people have given very different predictions that the bitcoin market will collapse. For example, GP Bullhound, a small investment bank, expects 90% of the market to collapse this year, while Harvard professor and former International Monetary Fund (IMF) president Kenneth Rogoff expects Bitcoin to shrink to $100. GoldMoney CEO Roy Sebag's statement is even more exaggerated, indicating that the value of Bitcoin in the future is zero.

In addition, there are predictions for different levels. For example, Tom Lee, the former chief stock strategist at JPMorgan Chase and the current managing partner of fund company Fundstrat, predicts that bitcoin prices will reach $25,000 by the end of 2018 and $125,000 by 2022. Robert Sluymer, also from Fundstrat, believes that bitcoin prices will not exceed $7,000. Llew Claasen, executive director of the Bitcoin Foundation, said Bitcoin will reach $40,000 in 2018.

From this point of view, the forecasting of digital currency prices varies and varies. However, Pauw also mentioned that there are still some factors worth noting. These factors are “almost certain” will have an impact on the future price of Bitcoin and, more broadly, the entire digital currency market, including: the tightening of the regulatory rules for the dominant digital currency market. The extent and nature, the extent to which digital currencies are accepted by the market in the coming year and beyond, the degree of development of the digital currency futures market, the utility of digital currencies, and the ability of technology based on them to solve practical problems.