HOW FAR WILL BITCOIN GO IN 2017? EXPERTS WEIGH IN WITH PREDICTIONS

[anghelllaw]

Bitcoinist asked digital currency experts Kim Dotcom, Reggie Middleton and Tone Vays to give us their thoughts on what we should expect from Bitcoin this year.

3 PROMINENT EXPERTS SHARE THEIR PREDICTIONS

It would hard to find anyone who predicted Bitcoin could more than double in value in 2016. Even the most ardent proponents can only be so optimistic. My view of its price by year’s end went as high as $800 by year’s end, but I certainly didn’t see the afterburners coming in a December Bitcoin buying spree.

Where do we go from here? Is there something that can affect the Bitcoin price in 2017 that we should consider? I asked three experts in the digital currency space to give me their thoughts on what we should expect from Bitcoin this year and here’s what I discovered, starting with Bitcoin blogger and trader, Tone Vays.

I see a very strong start to 2017. A lot depends on SegWit passing, but it will be the confidence and speculation in the eventual consensus on SegWit being passed that should drive the price to as high as $2,000 by end of summer. (Just like the price went up 3 months prior to halving, then pulled back for 3 months then after). Then sometime in August, I expect a correction, so that at year end we should be in $1,500 – $1,720 range.


Reggie Middleton is the creator of Veritaseum and has an impressive track record of predicting the future rises and falls in the financial markets. Yet, he was not willing to put a dollar amount on Bitcoin.

I’m reticent to give price targets since that’s not how I work, but I’m bullish. Bricking prices will move corollary to capital control.pressure from Asian and South American countries, as well contrary to the downwards pressure found in fiat currencies. More directly put, BTC will act as a put option on FICC (fixed income, commodity, and currency) downward movement or a call option on said volatility. Expect to see a lot of that as Trump takes office, the ECB bungles its macro policy and developing.nations.continue their war on cash.

It is always interesting to hear from the man, the myth, the legend known as Kim DotCom. With his upcoming Bitcoin project BitCache expected to hit the market shortly, I was expecting him to be pretty upbeat on “The Internet of money,” and he didn’t disappoint. Kim likes to think big.

To the average person, the current value per Bitcoin of $1,000 per Bitcoin seems high. But if you look at the market capitalization of all Bitcoin it is only $16+ billion. The market value of all the gold that was ever mined is approximately $7 trillion. It’s not hard to imagine that a mass adoption of Bitcoin could reach a market cap of more than $1 trillion. Do the math. Bitcoin are still incredibly cheap. A price per Bitcoin of $100000 is a possibility within a decade or two. Hold on to your Bitcoin. You’ll see a rise to $2000+ in 2017.

PRICE TO DOUBLE EVERY YEAR?

I may or may not be a Bitcoin expert, but my two cents are that it should be safe to assume that Bitcoin’s market value should double every year, so approaching $2,000 this year, $4,000 the year after, and so on.

The upside for Bitcoin is as the greater global economy continues to spiral downward, and a growing number of nations begin a war on cash, as Middleton said earlier, people will slowly discover Bitcoin to be a valuable alternative, either as a currency or as an economic “safe haven.” A growing global digital currency in a world hellbent on taking the freedom of cash from the proletariat is a pretty good hedge, IMO.

What is working against Bitcoin is it still is suffering from scalability issues and limited mainstream adoption penetration. The Bitcoin community needs to come together on a way to handle more transactions than a few per second before Bitcoin can be all that it will be. Considering today is only Bitcoin’s eighth birthday as a publicly traded digital asset, it has come a long way in a short amount of time, but there are still major obstacles to overcome before it reaches its full potential.

Considering today is only Bitcoin’s eighth birthday as a publicly traded digital asset, it has come a long way in a short amount of time, but there are still major obstacles to overcome before it reaches its full potential.

Source : http://bitcoinist.com/bitcoin-money-experiment-8/

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[mikehersh2]

At the rate at which it has been increasing recently, I don't see it slowing any time soon. Really high hopes for this year.

[GMPoison]

I don't care where the price ends up in 2017, I just want what is best for bitcoin as a whole, whether that means the price taking a plunge or the price surging to $2000+. What I want to happen is for the price to keep slowly and healthily growing like it has been for the past two years. If it makes it up to $2000 by the end of 2017 then good for bitcoin, if it doesn't then so be it! Of course I'm slightly bias because I hold bitcoin but still 

[QuestionAuthority]

So your experts are the fat guy that's about to be extradited in 2017 to the USA to serve a federal prison sentence for racketeering, money laundering and copyright infringement, a guy who's only reason to write anything is for self promotion and the guy that thinks the democratization of money is "economically silly".

I don't think I'll be trusting your experts.

[bamboylee]

At the rate at which it has been increasing recently, I don't see it slowing any time soon. Really high hopes for this year.

It is only a matter of time before the bulls get exhausted and the bears starts their action. How deep the dip will be? I do not know. What I know is, when there is a long bull run, there will be corrections. It is either downward or sideways.

[deadsilent]

You know, its easy to say our own predictions. What the are saying is just they're own predictions. Even me i can do that myself. We cant really tell what will happen next to price of bitcoin since its volatile. I just remember we are $900+ that time when someone hacks an exchange and it triggered huge drop on its price. I thought we are going to $1000 that time. But the opposite happen. No one really knows will happen in the future.

[European Central Bank]

almost every single expert ended up with egg on their faces with their 2014 predictions so i'm not gonna listen to any of them. i think it's gonna be a very promising year but let's see. it's been a great start. even if it sits around here for months it's still a big confidence boost.

[Rizky Aditya]

Some other experts predict that Bitcoin will go up be around $1500  this year.  They saw the potential of the possible increase in price.  That is the people from the country where fiat money is being oppressed now jumping to Bitcoin train.  Aside from that the widespread and more effective campaign of bitcoin had reached more people than before.

People can predict whatever the hell they wan. But if they don't have some kind of superpower, there is no way to actually predict what is going to happen. They are just making educated guesses about where it is going. Bitcoin could crash tomorrow for all we know.

[Xester]

Those predictions can really turn on our passion for bitcoin. I just hope that bitcoin can surpass the overwhelming challenge of fiat virtual currency. I do hope that bitcoins success is not only for a short time and hope it will not end next year - 2018. If bitcoin kicks in to 2000$ each this  that will be a good news to everyone in bitcoin industry hope it will cause bitcoin to  continue to move on and  overcome the trials that lies ahead.

[pooya87]

none of these guys seem to be any expert in bitcoin, the others i didn't know but i searched, and Kim dotcom that i know is not a bitcoin expert at all, and if anything he was just hyping things a couple of months back to get a lot of attention to his new project called MegaUpload 2.0 which i am sure will bring more DMCA lawsuit to his doorstep.

p.s. just the fact that they are talking about something positive that is happening also doesn't make them experts!

[Kakmakr]

I think this was a psychological victory for us to reach this price level again without some bot creating chaos in the background. This was purely driven by real supply and demand this time, and we can build on that. Will this last? Nobody can honestly answer that question, but we have to acknowledge the accomplishment.

Enjoy the high, and build on that for 2017.  

[Rizky Aditya]

Those predictions can really turn on our passion for bitcoin. I just hope that bitcoin can surpass the overwhelming challenge of fiat virtual currency. I do hope that bitcoins success is not only for a short time and hope it will not end next year - 2018. If bitcoin kicks in to 2000$ each this  that will be a good news to everyone in bitcoin industry hope it will cause bitcoin to  continue to move on and  overcome the trials that lies ahead.

My predictions may not be great, but I am pretty sure that Bitcoin won't crash in 2018. I think that now it is steadily rising and it probably will keep going over $1100. It still has a long life ahead of it.

[BossMacko]

I can't predict Bitcoin anymore because of what is happening to it right now. The pattern is different from last year, this past few days the price just keep going up. Bitcoin is really unpredictable maybe 2017 is a year of Bitcoin, hopefully it just go up and never go down.

[davis196]

Bitcoinist asked digital currency experts Kim Dotcom, Reggie Middleton and Tone Vays to give us their thoughts on what we should expect from Bitcoin this year.

3 PROMINENT EXPERTS SHARE THEIR PREDICTIONS

It would hard to find anyone who predicted Bitcoin could more than double in value in 2016. Even the most ardent proponents can only be so optimistic. My view of its price by year’s end went as high as $800 by year’s end, but I certainly didn’t see the afterburners coming in a December Bitcoin buying spree.

Where do we go from here? Is there something that can affect the Bitcoin price in 2017 that we should consider? I asked three experts in the digital currency space to give me their thoughts on what we should expect from Bitcoin this year and here’s what I discovered, starting with Bitcoin blogger and trader, Tone Vays.

I see a very strong start to 2017. A lot depends on SegWit passing, but it will be the confidence and speculation in the eventual consensus on SegWit being passed that should drive the price to as high as $2,000 by end of summer. (Just like the price went up 3 months prior to halving, then pulled back for 3 months then after). Then sometime in August, I expect a correction, so that at year end we should be in $1,500 – $1,720 range.


Reggie Middleton is the creator of Veritaseum and has an impressive track record of predicting the future rises and falls in the financial markets. Yet, he was not willing to put a dollar amount on Bitcoin.

I’m reticent to give price targets since that’s not how I work, but I’m bullish. Bricking prices will move corollary to capital control.pressure from Asian and South American countries, as well contrary to the downwards pressure found in fiat currencies. More directly put, BTC will act as a put option on FICC (fixed income, commodity, and currency) downward movement or a call option on said volatility. Expect to see a lot of that as Trump takes office, the ECB bungles its macro policy and developing.nations.continue their war on cash.

It is always interesting to hear from the man, the myth, the legend known as Kim DotCom. With his upcoming Bitcoin project BitCache expected to hit the market shortly, I was expecting him to be pretty upbeat on “The Internet of money,” and he didn’t disappoint. Kim likes to think big.

To the average person, the current value per Bitcoin of $1,000 per Bitcoin seems high. But if you look at the market capitalization of all Bitcoin it is only $16+ billion. The market value of all the gold that was ever mined is approximately $7 trillion. It’s not hard to imagine that a mass adoption of Bitcoin could reach a market cap of more than $1 trillion. Do the math. Bitcoin are still incredibly cheap. A price per Bitcoin of $100000 is a possibility within a decade or two. Hold on to your Bitcoin. You’ll see a rise to $2000+ in 2017.

PRICE TO DOUBLE EVERY YEAR?

I may or may not be a Bitcoin expert, but my two cents are that it should be safe to assume that Bitcoin’s market value should double every year, so approaching $2,000 this year, $4,000 the year after, and so on.

The upside for Bitcoin is as the greater global economy continues to spiral downward, and a growing number of nations begin a war on cash, as Middleton said earlier, people will slowly discover Bitcoin to be a valuable alternative, either as a currency or as an economic “safe haven.” A growing global digital currency in a world hellbent on taking the freedom of cash from the proletariat is a pretty good hedge, IMO.

What is working against Bitcoin is it still is suffering from scalability issues and limited mainstream adoption penetration. The Bitcoin community needs to come together on a way to handle more transactions than a few per second before Bitcoin can be all that it will be. Considering today is only Bitcoin’s eighth birthday as a publicly traded digital asset, it has come a long way in a short amount of time, but there are still major obstacles to overcome before it reaches its full potential.

Considering today is only Bitcoin’s eighth birthday as a publicly traded digital asset, it has come a long way in a short amount of time, but there are still major obstacles to overcome before it reaches its full potential.

Source : http://bitcoinist.com/bitcoin-money-experiment-8/

I`m so sad that i sold all my bitcoins at $860.

I`m not a good trader anyway.I quess i will have to earn more bitcoins during 2017.

The btc price increases,the US dollar increases,everything is going just fine for me.

[Botnake]

I can't predict Bitcoin anymore because of what is happening to it right now. The pattern is different from last year, this past few days the price just keep going up. Bitcoin is really unpredictable maybe 2017 is a year of Bitcoin, hopefully it just go up and never go down.

Of course because we are stronger now than the past, we cannot predict what the exact price will be but it's just right to take the opportunity to invest when it is knocking on your door already. See the price now, it's rising continuously, it is the best time to ride with it, it's a guaranteed profit for a short term, we should see it that way.

[kiklo]

I`m so sad that i sold all my bitcoins at $860.

I`m not a good trader anyway.I quess i will have to earn more bitcoins during 2017.

The btc price increases,the US dollar increases,everything is going just fine for me.

Wait til after Jan 2017 , you feel better. 


 

[Amph]

almost every single expert ended up with egg on their faces with their 2014 predictions so i'm not gonna listen to any of them. i think it's gonna be a very promising year but let's see. it's been a great start. even if it sits around here for months it's still a big confidence boost.

well that was different bitcoin began with a dump in 2014 not with a pump, besides this pump has nothign to do with the manipulated one from 2013

i can say without worry that 1k have a high probability to be the ew bottom already, but i also believe that there will be a great price correction, never once when a good price increase like that happened, it was not followed by a big dump also...

[Harlot]

The most realistic was with SegWit's approach because Bitcoin's price doubling would mean that it has taken the attention of the majority of the population which I don't see yet this 2017. Also Bitcoin reaching that price range will make it more expensive than hold which is highly not probable. We must adjust our expectations so that we know when to hold or to sell our Bitcoin.