As 2018 is coming to its end, with only several hours left before 2019 officially starts, cryptocurrency investors are looking back on the past 12 months, interested to see what crypto predictions came to pass. In a way, this was a year dedicated to forecasts, with a lot of them being published as a little hope for the declining markets.
After the surge that started in late 2017, crypto experts did not have any reason to believe that things will be different in this year. The philosophy was that something achieved once can easily be reached again.
However, after a year of a bear market with the recent November crash, a lot of these predictions, even when coming from top experts, are now seen ridiculous in the way they missed their target.
Pantera Capital: $20,000 By the end of 2018
As mentioned, predictions for the end of this year regarding crypto price were many. Pantera Capital, for example, predicted in their April 12 post that it is “highly likely” for Bitcoin price to exceed $20,000 by the end of 2018. This prediction was made at the time when BTC value was at $6,500. However, instead of a new bull run, the crypto market experienced yet another crash.
Fundstrat Global (Tom Lee): $25,000 By the end of 2018
Another very optimistic prediction came from Funstrat Global Advisors’ head of research, Tom Lee. Lee was claiming that there is a correlation between Bitcoin and emerging markets and that both are dropping and surging at the same time. He claimed in August 2018 that the bear market would soon end, and his bullish predictions did not only see Bitcoin return to its all-time high but also exceed it. In numerous interviews, Lee was convinced that the end of 2018 would bring Bitcoin to the price of $25,000.
Morgan Creek: $50,000 By the end of 2018
Another expert who used to be quite bullish on Bitcoin in 2018 was Morgan Creek Digital partner, Anthony Pompliano. His predictions were even more optimistic than that of the two above, as he stated that Bitcoin would hit the dream number of $50,000 per coin by the end of this year. This prediction was originally made in early 2018, but he decided to stick with it as the year went on, and he continued to be bullish on BTC for months to come.
Pfeffer Capital: $75,000 By the end of 2018
Several other investors had even more faith in BTC price and its future, such as London-based family office Pfeffer Capital’s partner, John Pfeffer.
Pfeffer predicted that BTC would hit as much as $75,000 per coin by December 2018. Pfeffer used to claim that Bitcoin is the “first viable candidate to replace gold the world has ever seen.” His prediction relied a lot on this possibility, as it seemed logical to him that it will happen sooner or later. While the possibility still exists in the future, his prediction for December 2018 appears to be very far from reality.
Saxo Bank (Kay Van-Petersen): $100K By the end of 2018
Finally, one of the most bullish predictions came from Saxo Bank’s analyst, Kay Van-Petersen. Van-Petersen has had several accurate predictions about Bitcoin in the past. One of them predicted BTC hitting $2,000 in 2017, which came true in May of that bullish year.
After that, Van-Petersen had made up another prediction, stating that BTC will reach $100,000 (!) per coin by December 2018. What a miss.
Predictions Made Juicy Headlines for The Experts
Predicting the price of BTC, or any other cryptocurrency is extremely difficult due to high volatility, and the fact that nearly any event can disrupt the market. Experts cannot guess the future, and all they can do is try to provide investors with their best guesses and for them to create juicy news headlines.
This is important to have in mind while investing, as not every prediction will necessarily come true, as it can be seen from these examples. Still, there is always 2019, and there is a certain probability that these predictions will come true in some delay.
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Source: Crypto Potato