The last months were clearly not the best for cryptocurrencies in terms of price. In December, most of the cryptocurrencies reached all time highs, but now, Bitcoin has touched the lowest price in more than three months. However, this situation does not mean that there are not investors that want to buy the dip and wait for the next rally.
Bitcoin To Reach $50,000 Dollars
The earlier investor Ran Neu-Ner said that Bitcoin will hit $50,000 in 2019 during an interview on CNBC. He explained that 2018 will see more individuals investing in cryptocurrencies and that the price will stabilize.
“We have seen it go down 50% at a time. It’s quite a resilient currency that just keeps going up afterwards. I think 2018 is the year where the mechanisms to allow retail consumers to get into cryptocurrencies start to open themselves up… The price will become more stable.”
He has also said that Bitcoin has found a bottom around $7,500 dollars due to the fact that there is a lot of retail money in cryptocurrencies. After the interview with the CNBC, he pinned a tweet saying that Bitcoin will finish this year near $50,000 dollars.
For the record, I am pinning this tweet. Bitcoin will finish 2018 at $50 000.
— Ran Neuner (@cryptomanran) February 2, 2018
His theory about why Bitcoin will stabilize in 2018 is based on the fact that there are not enough buyers and sellers in the market. As more mechanism are opening doors for investors to trade cryptocurrencies, the price will lately stabilize. He mentioned that applications like Robinhood would help retailers and millennials to have access to cryptocurrency trading providing liquidity to the market.
We have written at UseTheBitcoin that Litecoin is also expanding. Merchants will now be able to receive payments with LitePay and LitePal, increasing the amount of retail stores accepting cryptocurrencies. In addition to it, vendors would not have to be worried about price fluctuations because these payment processors change the cryptocurrency immediately to local currency.
Neunur said that Ethereum will be an attractive cryptocurrency for investors because it is being used by several developers and the smartest people in the world, compared to Bitcoin that has two uses cases at max (being a currency or a store of value).