With price dips since November 2017, bitcoin prediction is all over the crypto space and mainstream media. Some analysts say the cryptocurrency will scale greater heights while others expect it to fall further.
A few days ago, experts predicted a bull run in 2018, especially after February. Speaking to CNBC, Jamie Burke, CEO of Outlier Ventures, said:
“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.”
With that in mind, this article exposes the minds of top bitcoin experts and investors. Here is what they had to say about bitcoin prediction for 2018.
Brad Garlinghouse (CEO, Ripple)
Why he knows bitcoin like his own bedroom
Brad wears several hats, which qualify him as an authority in the bitcoin circles and the crypto space. To begin with, he’s the CEO of Ripple, and a member of the board of management. Before he joined Ripple, Brad was the CEO of Hightail, a file collaborative service. Previously, he held various top positions in multiple companies including AOL, where he was the President of Consumer Applications between 2009 and 2012. At Yahoo!, he held various positions between 2003 and 2009, including Senior Vice President. Other companies he served include Dialpad Communications, SBC Communications, @Home Network, and Silverlake Partners. Currently, Brad is a member of the Board of Directors in various companies such as Animoto, OutMatch, Ancestry.com, and Tonic Health.
His take on bitcoin prediction
With sterling credentials, Brad is of the opinion that 2017 encountered various difficulties in the crypto industry—from ICOs to pricing volatility. However, the CEO of Ripple has a bold bitcoin prediction for what the industry might experience in 2018.
“Bitcoin and Ethereum will see new challengers. Everyone knows bitcoin and Ethereum, but other cryptocurrencies that have real use cases and increased adoption will challenge the status quo.
“Coins without use cases will scramble to find them. CryptoKitties is just the beginning of what will be a series of ridiculous attempts to find a use case for coins that never had a purpose to begin with. Investors will have FOMO. As crypto market caps continue to reach record highs, we’ll see investors jump ship from traditional VC funding to focus entirely on crypto funds.
“One blockchain won’t rule them all. Blockchain and crypto projects that don’t embrace interoperability will fall to the wayside. The ICO bubble will burst. Regulators are already cracking down on ICOs but majority next year we are going to see people go to jail and community backlash as the majority of ICO projects fail to deliver on their promises.”
Peter Vessenes (Co-founder Bitcoin Foundation and Managing Director, New Alchemy)
Why he’s qualified to speak on bitcoin prediction
Peter Vessenes is one of the earliest bitcoin enthusiasts, so he knows more about bitcoin than your high school buddy. With deep knowledge in cryptocurrency, tokenization, and the blockchain technology, he is one of the experts whose advice you can take as the gospel truth. Peter has numerous credentials from the founder of the first venture-backed Bitcoin Company to co-founder of Bitcoin Foundation. He was the first person to suggest the idea of pooled bitcoin mining and the first to make public the security risks that brought down the DAO. An alumnus of Brown University, Peter holds a degree in theoretical mathematics.
What he says about bitcoin crystal ball
“I believe tokenization will become more relevant and widely used than bitcoin in the next five years. I was drawn to blockchain technology, particularly the idea of tokenization, because I knew it was going to be a groundbreaking development that would have the potential to disrupt industries and the overall economy.
“I knew it had the potential to be the largest technological shift of this decade. I was intrigued and excited by tokenization’s ability to democratize commerce and finance. I started New Alchemy as a way to further explore the possibilities of tokenization and to aid innovative startups in launching their tokens to best disrupt their industries and bring about the changes needed for the economy to become more inclusive and efficient.
Timothy Tam (Co-founder, CoinFi)
Why he knows what he’s talking about
Tim’s career began at Goldman Sachs, where he worked as an analyst dealing with statistical arbitrage and algorithmic trading. From there, Tim moved to Asia, where he worked as a senior trader at two hedge funds—Nezu Asia and Segantii Capital. Both companies were reputable, each managing assets worth more than $1.5 billion.
During his career, Tim was involved in equity trading, foreign exchange, convertible bonds, and equity derivatives in the US and more than 10 Asian countries. Besides, he’s been an astute trader, handling up to $1 billion daily at peak times. Tim was deeply involved in risk management during the 2008 global financial crisis. Currently, he is the co-founder of CoinFi, a market intelligence platform for digital currencies. The platform offers hedge-fund caliber trading tools and analysis.
His words on bitcoin prediction
“Compared to the kind of tools and on-demand financial analysis to which equities traders have access, the cryptocurrency market is drastically underserved. As cryptocurrency heads mainstream—and don’t kid yourself, it absolutely is going mainstream with the recent rollout of futures trading and talk of government regulation—look for an entire industry to spawn around tracking and analyzing the crypto markets. Now that traditional and experienced Wall Street investment bankers are dabbling in crypto, an arsenal of advanced tools, algorithms, and products, including derivatives, is probable.
“But with a surging market comes a dark side. Over the next five years, expect to see cases of fraud arise that aren’t necessarily new to Wall Street but certainly new to the crypto market. Pump and dump schemes and false “flash crashes” will be common until the government is able to sniff out the culprits.”
Sara Rose (Founder, Dmanna)
Why she knows more about crypto than your average guy on Facebook
A former chemist, Sara Rose Harcus is a cryptocurrency trader by design. The perpetual entrepreneur is widely published with many of her articles appearing on reputable publications including Fortune, CNN Money, and the Business Insider. Currently, she strives to reduce the worldwide rate of urinary tract infections by half, using her company Dmanna. Her thoughts on bitcoin prediction are worth reading.
Sara’s inside scoop
“Bitcoin, and the blockchain technology it is built on has the potential to change the world. Like many movements that aspire to this, it won’t get there without encountering its share of skeptics, naysayers, and dated economists who think to liken Bitcoin to the Tulip bubble. Bitcoin, and other cryptocurrencies like it, are not a Tulip bubble. People said similar things about the internet.
“It’s a currency that can’t be counterfeited, stolen, or traced. Transactions are instant and secure. It would be foolish to think there’s not a place for this technology in our everyday lives. We just haven’t realized it yet. But Disney has, with their implementation of what is now Daragonchain. And finance has too, with Nasdaq Inc. chomping at the bit to launch Bitcoin futures. Almost every bank is implementing blockchain technology. Goldman Sachs invested over $100 million in it. The country of Tunisia’s national currency is built on the blockchain.
“It won’t be long before we’re using bitcoin to buy through online payment processors like PayPal. By 2023 you’ll be able to purchase gas at the convenient store with your bitcoins. Maybe in 2027, the naysayers will subside. Bitcoin will be worth over $100k per coin by the time that happens. Until then, HODL.”
Why he knows what he’s talking about
Founding member of BIGtoken, Kristoffer is also the COO of SRAX (www.bigtoken.com). With diverse professional experience, he is an authoritative voice in the fields of media and technology. Besides, Kristoffer is enthusiastic about team, product, and partnership development. He also creates awe-inspiring customer experiences. He has held various senior positions in reputable companies including Connexion Technologies where he was the Director of Training. He also served as the Lead Consultant and Project Manager for two companies—Living Full Blast Inc. and Pacific Integral. At SRAX, Kristoffer’s creative ability has led to noticeable growth in sales, products, and the overall team.
His thoughts on bitcoin prediction
“Many compare this to the rise of the internet and web. Late November 2017, bitcoin hit $10,000. Similarly, in November 1995, another new and small startup skyrocketed after going public in August. Netscape went public on August 9, 1995 with a price of $28.00. Before the day closed, the price went to $74.75, and closed at $58.25. Netscape broke $100 in November and went on to skyrocket to $174 by the end of that year. This catapulted the Nasdaq and drove massive economic gain for five years.
“Bitcoin hitting $10,000 was our Netscape moment. Adam Lashinksy said, “Netscape mesmerized investors and captured America’s imagination. More than any other company, it set the technological, social, and financial tone of the internet age.” Bitcoin is capturing the imagination and driving enthusiasm.
“In 2000, the dotcom bubble burst and it took Nasdaq to recover. However, we were left with Amazon, Google, AOL, MSN, Yahoo, and many of the building blocks that make up our world today. The Nasdaq again is reaching new highs and breaking new records. Blockchain and crypto is in its infancy. We’re driving up the hype cycle. The bubble will likely burst. But what will come of that is the value human enthusiasm creates.
“In addition, ICOs have replaced a large portion of early stage investment vehicles for tech vehicles for tech and e-commerce business. Deal flow has had a massive slow down for early stage firms, which will need to shift to later stage investments to survive. At the same, the size of ICOs is typically, at least, 5 to 10 times that of early stage investments, for the need for a later stage, capital has lessened.
“But the street goes both ways. Given the capital opportunities with ICOs, which require blockchain and token tech, there will be an overall shift to blockchain and token-friendly businesses. Investment vehicles for cryptocurrencies and crypto derivatives will be available for traditional banks and retail investment firms. This will move a lot of capital into crypto while challenging traditional investment vehicles.”
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Featured Image from CoinTelegraph, other images courtesy of Medium Digest
Tony is a writer for the crypto space. He presents cryptocurrency and blockchain topics to the public in a way that he only can. While carefully researched, this article should not be taken as an express investment guide. Do your own research and consult a financial advisor before you invest in cryptocurrency.
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