Cryptocurrency experts have slashed their year-end forecast for Bitcoin by more than 50%


Who’d be a crypto forecaster?

Back in January, comparison site finder.com.au’s cryptocurrency experts had Bitcoin pegged for a value of $ 32,870 on average by December 31.

At the time, BTC was riding highs of around $14,000. But even in March, when Bitcoin was valued at half that, the panel was confident it could still hold out for $29,000 by the end of 2018.

This month, with Bitcoin still nudging $6,800, the outlook isn’t so rosy from the finder.com.au team. They’re now tipping it can reach $ 14,322 by December 31 — still a hefty increase on today’s price, but certainly a lot wobblier an outlook than at any other time this year.

Advertisement

The June Cryptocurrency Predictions Report was compiled by finder’s 10 crypto experts. You can read more about who they are and what coins they hold here. And out of the 13 coins they ran the ruler over this month, none are expected to be worth less by December 31.

Two, however – Iota (MIOTA) and Monero (XMR) – are tipped to fall 8% and 7% respectively by July 1.

Dogecoin, which in March and April was the panel’s favourite and listed as having the potential to rise anywhere between 3,000% and 5,000%, isn’t even on the list of 13 this month.

Of the winners, the panel has picked out EOS (EOS) as having the best shot at high growth, tipping a possible 206% rise on its price of $12.45 at the end of May.

That would put it at $38.11 by the year’s end.

Advertisement

EOS is the token offered in an ICO by blockchain company Block-one, which helped it recently complete a staggering $3.03 billion year-long funding round and lure Commonwealth Bank’s former chief financial officer, Rob Jesudason, to Hong Kong as its chief operating officer.

Tron (TRX) is expected to have the second-greatest positive price growth by 31 December of 146%, followed by Cardano (ADA) at 145%.

When comparing the forecast market capitalisations for Bitcoin, Bitcoin Cash and Ethereum, Bitcoin is predicted to see the highest growth by the end of the year, at 99%.

This was followed by Ethereum with a 91% increase, and Bitcoin Cash, with an increase of 76%.

You can see the full results of the survey here at finder.com.au.

Powered by WPeMatico

AdSense