[12-12-28] Bitcoin May Fluctuate Between $6,500 And $22,000 in 2018-Wall Street

[SlipMart]

                                                     

Nick Colas, the first Wall Street analyst covering cryptocurrencies and the co-founder of DataTrek research, recently argued that bitcoin is potentially in for a wild ride in 2018, as he sees the cryptocurrency fluctuate between $6,500 and $22,000.

According to CNBC, the analyst, who’s been following bitcoin for at least four years now, doesn’t see bitcoin’s volatility going anywhere in 2018, as “bitcoin and cryptocurrency are hard to value and their economic utility relies on use cases that are not yet built.” To Colas, a midpoint range of $14,035 is a reasonable price point for the flagship cryptocurrency next year.

Read More:https://bitzamp.com/bitcoin-may-fluctuate-6500-22000-2018-wall-street-analyst/

[iamTom123]

Nothing new with this kind of projection as we have already heard some other analysts saying the same thing. However, let me add my own piece of cake here...i think Bitcoin can be going beyond $22,000 in 2018 and might be expanding into the $50,000 territory but my projection is hinging on the solutions that can be applied to the scalability problem. We should be adding more pressure to Bitcoin leaders and developers to unite themselves so that they can come up with a very acceptable remedy to the network clogs and stop the ridiculous transaction fee being implemented right now. Though many are already accepting the reality that Bitcoin is more of a store of value or SoV we should not be giving up its designed currency function. Once the scalability is solved then there would never be a big hindrance for Bitcoin to fulfill its currency use. When we sacrificed the currency side, it is just like flying an airplane with only one engine being utilized. 

[uslfd]

                                                     

Nick Colas, the first Wall Street analyst covering cryptocurrencies and the co-founder of DataTrek research, recently argued that bitcoin is potentially in for a wild ride in 2018, as he sees the cryptocurrency fluctuate between $6,500 and $22,000.

According to CNBC, the analyst, who’s been following bitcoin for at least four years now, doesn’t see bitcoin’s volatility going anywhere in 2018, as “bitcoin and cryptocurrency are hard to value and their economic utility relies on use cases that are not yet built.” To Colas, a midpoint range of $14,035 is a reasonable price point for the flagship cryptocurrency next year.

Read More:https://bitzamp.com/bitcoin-may-fluctuate-6500-22000-2018-wall-street-analyst/

Definitely one of the most boring predictions, most likely useless.
I would give it more respect if it says btc to fluctuate $3K to $12K or $15K to $40K

[jossiel]

$22,000 is a good news for me but with the fluctuation between it's first price $6,500.

I didn't like what he said on that part.

[error08]

Bitcoin can reach $20,000 easily if transactions problem regarding high fees and confirmation time be solved.
The last time bitcoin get corrected, it fall down to $11K as the lowest price before rebound back. Hence, I doubt bitcoin can fall below $10K in the next year, not without big countries ban bitcoin. It seems like Nick Colas just predicted it without proper analysis, even though bitcoin almost lost its utility, people still trust bitcoin and keep buying it, look at the development and acceptance of bitcoin in Japan and Belarus.

[wilhb81]

Hmm, another prediction from the first Wall Street analyst. It's likely for Bitcoin to reach over $22K in the first quarter of 2018. However, I doubt if Bitcoin will ever reach below $10K again, as it's the most important psychological support line for Bitcoin (if it crashes - then Bitcoin is going to have a free fall)