The last weeks in the cryptocurrency markets were pretty volatile. We saw huge dips from the leaders and altcoins. There was massive red down the top 100. In a speculative market such as the crypto market, everyone is speculating as much as they want. We heard of Doomsday predictions and a lot of negative ones. Despite all of this we heard even more positive predictions and speculations.
Several crypto experts have predicted that the next bull-run will be substantial. Experts told CNBC that the total market cap of all cryptocurrencies could reach 1$ trillion and that Bitcoin could hit 50,000$ by the end of the year.
Market of speculation
The CEO at Outlier Ventures, Europe’s first blockchain-based venture development firm, Jamie Burke told CNBC that the predicted bull run will be followed by a general settling down of the market:
“We believe after February the market will likely go on a bull-run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals.”
Thomas Glucksmann, head of APAC business at Gatecoin, sees regulation, introduction of institutional capital and technological advances like the Lightning Network as big factors in the rising prices of cryptocurrencies. He wrote CNBC an email stating:
“There is no reason why we could not see Bitcoin pushing 50,000$ by December.”
Back in April 2017 when Bitcoin reached its then all-time high, Glucksmann had commented on the connection between the raise in price and the start of the US Securities and Exchange Comission’s month-long review of the Winklevoss twins Bitcoin Exchange-traded fund (ETF) proposal.
Glucksmann also sait that a possible element in market growth going forward could be the release f a cryptocurrency-based ETF, similar to when BTC’s price went up to almost 17k $ in December.
“One possible appetizer for the bulls or the catalyst for the recovery will be the release of another cryptocurrency backed instrument listed on a major exchange. There are several candidates in the pipeline, it’s only a matter of time until we have a cryptocurrency backed ETF.”
“Utility tokens and assets with a working platform and a clear-cut reason for requiring both a blockchain and their own token are more likely to appreciate in value this year. Some of these cryptoassets will not be used for years, meaning they have no utility value.”
The host of CNBC’s show CryptoTrader, Ran Neuner has pinned his tweet that predicts Bitcoin hitting 50,000$ at the end of 2018.
For the record, I am pinning this tweet. Bitcoin will finish 2018 at $50 000.
— Ran Neuner (@cryptomanran) February 2, 2018