Predicting the price of a financial asset is very complicated, there are thousands of financial analysts who every day try to predict where the market will go, some successfully achieve it, while other analysts die in the attempt.
Predicting the price of any asset in the market costs for a simple reason, there are thousands of variables that have to be considered, from a black swan that collapses to the market to a white swan that makes it record new records.
Prediction for Bitcoin 2018
Let’s make a realistic prediction of the price of bitcoin and as far as it possibly can go, we will also take into account the variables for this to happen.
From the technical side, the price of Bitcoin comes from the beginning of 2018 in a bearish channel that would take it to the price at $ 2000 per unit. To break with this prolonged bearish channel the bitcoin has to manage to pass the 10,000 dollars, to do it would start another new cycle, with its ups and downs, but far from the bearish channel that takes it to the 2000 dollars. If we successfully surpass 10,000 dollars, we could find a raise to at least 15,000 dollars, this forecast based on the fact that there is a strong resistance to overcome more than the 12,000 dollars.
From the fundamental side the bitcoin has features that could cause its price to rise to high levels.
Mainly the price of bitcoin fluctuates by the simple “Offer and Demand” of the users. Two things would be positive for the cryptocurrency to go up in price, first that more people use this cryptocurrency for transactions outside the market, since this way their supply would decrease in the market and increase the demand.
On the other hand the price of bitcoin to be governed by the simple supply and demand market regulation and the authorization to use bitcoin as digital transfer currency would be extremely positive. This would allow more players to own the cryptocurrency, such as commercial premises or companies that provide services or products. In this way, thousands of cryptocurrencies would also come out of the market, increasing demand and therefore raising the price.
Is there a possibility to see bitcoin in the $ 50,000?
Technically if the price of bitcoin breaks the main trend that is bearish we could see it in the $ 20,000 again.
On the side of the fundamental analysis, seeing the price of 50,000 for bitcoin is complicated. But not impossible. Giving Bitcoin a legal framework would increase its value significantly, and would also allow other participants in the economy to act on the cryptocurrency, raising its value.