Kay Van-Petersen believes that 2018 will bring the rise of Bitcoin and the future of Ethereum.
Cryptocurrencies are currently going through a difficult period: Bitcoin price $10,000 below, the lowest figure since December 5. It’s not the only unit that’s depreciated.. Bitcoin rivals such as Ethereum and Ripple also experienced this decline.. Despite this, some experts are still optimistic.
Saxo Bank analyst Kay Van-Petersen has an important position in the cryptocurrency world.. He is one of those who predicted that Bitcoin will rise: Van Petersen said that in 2017 the price of Bitcoin would reach $2,000. He made this prediction in December 2016, when Bitcoin was just under $900.. It was an unlikely prediction, but it still proved right.
This Tuesday, Van Petersen made a new prediction: Bitcoin’s $50,000 and $100,000 this year strong> said it would go up to a value between. Analyst: “First of all, we can argue that we are experiencing a correction in bitcoin, at one point it dropped by fifty percent, which is perfectly normal.. But we still do not see the obvious effects of futures.”
Bitcoin futures were published in December 2017. Although trading volume is still low, the potential of this move is still not realized.
However, Van-Petersen believes that Bitcoin will attract larger investments in 2018.. The increase in interest is not exponential, but even the slightest step in the development process can contribute to the legalization of the cryptocurrency market.
Some criticisms drew attention to these predictions made by Van-Petersen from the beginning of the year.. The reason for the recent price drop seems to be the market situation in South Korea and China.
These countries have always played a big role in Bitcoin’s situation.. Recently in South Korea, there was a possibility that the sale of cryptocurrencies will be banned. China did not lack in this regard: the central bank announced its plans to ban all kinds of crypto currency trading. These developments have led to declines in cryptocurrency exchanges.
Still, Van-Petersen does not see this crisis as the beginning of the end.. He finds this situation quite natural for Bitcoin.. He says that Bitcoin comes and goes for a period of time in a certain price range, and when the time comes, it reaffirms and experiences a significant rise.
Another important prediction of the analyst is the rise in Ethereum.. Ethereum garnered a lot of sidekicks in 2017, and raised high expectations for 2018.. Van-Petersen has some evidence to support his ideas: “Ethereum came after Bitcoin, it has a different leadership than Bitcoin. Seems more forward in solving the scaling problem. And you can see that the transactions on its front dwarf other currencies.”
While this is the case in general, different investors, analysts and experts differ on the future of the cryptocurrency market.. The stock market is gaining more and more fans, while our traditional investors are skeptical. Kay Van-Petersen’s forecasts are very long-term. But his predictions at the end of 2016 were also risky – nevertheless, he finally came true.
Source: Coinspeaker
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