A pair of Bitcoin permabulls believes that the top-ranked cryptocurrency will reach new highs in 2018 and beyond.
According to Anthony Pompliano, Bitcoin will reach $50,000 by the end of 2018.
In a recent tweet, the partner at Morgan Creek Digital Assets declared that the remaining months of the year would be interesting from a price movement perspective. He tweeted, "I’ve stuck to my $50,000 Bitcoin price target for end of year 2018.Still have high confidence on the $50,000 number. The timeframe is the big unknown.The next 5 months will be fun to watch." Pompliano bases his BTC price forecast on three cardinal parameters: human psychology, ETFs, and institutional investors.
For Morgan Creek CEO Mark Yusko, Bitcoin will still be going strong, even six years from now.
In a tweet from April 2018, Yusko provided a rolling forecast which put the price of Bitcoin at $500,000 by the end of 2024.
Bitcoin (BTC) is up 1.35% over the past 24 hours and is currently trading at $8,233.44 on Coinbase. BTC dominance is at 47.3% and the total cryptocurrency market cap is down 1.32% and is currently at $298 Billion.