There is no shortage of predictions from so called investment fund experts on Bitcoin, most either predict it will go to a million dollars or crash to the ground.
Todays prediction comes from Peter Boockvar Chief Investment Officer at Bleakley Advisory Group, although he believes Bitcoin will not die off he does believe that it could crash down to as low as $1000 this year:
“Over the next year I wouldn’t be surprised if it’s [BTC] down to $1,000 to $3,000.”
But then again this is the same Peter Boockvar that made the following statement back in 2012 about Apple:
“…Apple’s stock has gone parabolic. And, parabolic moves always end one way, back to the place where the parabolic move began. …”
What actually happened when Boockvar made this statement was that Apple Stocks soared a further 80% before declining roughly back to the value it was when he made this statement, but his statement was actually made at Apples new bottom, one which was never broken again.
So as always take what it said by so called experts with a pinch of salt, the cryptocurrency market is unpredictable and although a drop back to $1000 is not out of the question for Bitcoin it is also just as likely Bitcoin could hit $50,000 in 2018.
Whatever happens it’ll likely be a roller coaster of a year….. again!