Bitcoin's Price Could Reach 60,000 in the Mid-Term
Bitcoin's price and popularity have been on a growing path in the past few months. The price of bitcoin is currently above $19,000 and some analysts seem to believe that it will actually reach no less than $60,000 in the mid-term.
The latest statement on that direction was made by Tai Lopez, who actually is known as an important investor and analyst. He claimed that if some of the richest people in the world would decide to invest about 1% into bitcoin, the price of the cryptocurrency would grow to around $60,000. Lopez primarily referred to the 15 million millionaires in the world.
Lopez actually claimed that if some of the world's millionaires decide to invest in bitcoin in the coming months, its price would grow to around $60,000 without a problem.
Exactly when bitcoin's price will reach $60,000 is something that has not been predicted for the moment. Still, Lopex said that this could be a viable option in the mid-term.
Some analysts expect bitcoin's price to reach $40,000 by the end of 2018
However, some analysts expect the price of bitcoin to be near the $40,000 price range by the end of 2018. Mike Novogratz, a billionaire investor, previously said that the price of bitcoin will surpass $40,000 because of the newly launched bitcoin futures.
"Bitcoin could be at $40,000 at the end of 2018. It easily could" , Michael Novogratz declared Monday on CNBC's "Fast Money" show.
According to Novogratz, the bitcoin market will receive tens of billions of dollars from the traditional finance industry and institutional investors because of the bitcoin futures. Novogratz actually believed that reaching the $40,000 range will be easy for bitcoin in about one year.
Considering the new high growth experienced by bitcoin, it definitely seems that both these predictions have great chances to turn out being true. Analysts expect that a series of new investors will invest in bitcoin in the next few months, meaning that this way it will become a widely recognized store of value.