Bitcoin in 2018: prognoses and fears

As the New Year is fast approaching, economic observers start to think about what happened during 2017 and possible trends in 2018. Most economists directly involved with Bitcoin are bullish, while traditional asset managers are still not.

For example, Mike Novogratz, crypto investor who correctly predicted the growth of Bitcoin to $10,000, now tells the same cryptocurrency is going to reach 40,000 in the next few months. But not all observers talk about the price dynamics, as Shidan Gouran, President of Global Blockchain Technologies Corp., tells that the more conservative organizations, like governments and banks, are perceiving innovations with a lag, and this likely means we are going to see the boom of interest from traditional entrepreneurships.

Gouran’s views are shared by Mike Poutre, CEO of The Crypto Company, who tells 2018 is going to be the year of institutional investors entering the cryptocurrency industry. Another interesting event that might happen is the further rise of altcoins if the price of Bitcoin gets less volatile. We already see the rise of Litecoin and Ethereum, too, demonstrates a good growth.

Public awareness is going to become even broader in 2018, tell Perry Woodin, CEO of Node40, and Dmitry Zhulin, Co-founder of INS Ecosystem. To such extent that your relatives who had no connection with cryptocurrency will start to ask about how to invest in it (while actually they would have been better off investing on lesser values). Speaking of generations, Fundstrat’s Tom Lee compares young people driving BTC gains today to how baby boomers boosted stock markets in the 1980s.

However, CNBC has made a survey of traditional investors’ opinion and came to conclusion that 80% of economists say Bitcoin is a bubble. But if one looks at the parabolic chart when the growth of Amazon sales is shown, one could argue Bitcoin is not necessarily a bubble: