In the last months, important cryptocurrency figures and other known personalities, have been giving their predictions for Bitcoin and the cryptocurrency market in general. This time, Phillip Nunn, CEO of The Blackmore Group and Wealth Chain Group, said that Bitcoin could reach $60,000 dollars by the end of 2018.
Bitcoin at $60k?
It was not a good year in terms of price gains for Bitcoin. Since its all time high in December 2017, it lost more than 65% of its value. Some individuals predicted that the situation was going to be reversed during this month or the next one, but it seems a little bit complicated until now.
But Phillip Nunn, seems very bullish about Bitcoin this year. Talking with Business Cloud at the KPMG’s Tech Manchester event, Phillip Nunn explained that the market is moving towards an internet of value.
Mr. Nunn explained:
“The reality is we’re moving from an internet of information to an internet of value… It’s going to disrupt everything; money, record-keeping, legal. The prediction [$60K] was based on, first of all, market volatility which we’re experiencing at the moment; I think that’s really apparent. I absolutely stand by my prediction.”
Other Important Predictions
But Nunn is not the only analyst that is predicting a bullish Bitcoin this year. Thomas Lee, Fundstrat Global’s CEO, said that Bitcoin will hit $25,000 dollars by the end of this year.
But another shocking prediction, and perhaps, the most famous and commented, was the one made by John McAfee, the investor and crypto expert. He said that Bitcoin will reach $1 million by the year 2020. According to some graphics that are circulating on the web, Bitcoin should now be worth $11,335. Currently, the price is 43% under the parameters set by McAfee.
But of course, Bitcoin can skyrocket at any moment. The bull market in 2017 started in November when Bitcoin was traded at $6,000 dollars, and just a month later, Bitcoin broke all the barriers and reached $20,000. Since then, BTC is in a bear market, as well as other cryptocurrencies.