Kay Van-Petersen, an analyst at Saxo Bank predicted in December 2016 that that bitcoin would reach $2,000 in 2017 has made another interesting prediction. His prediction comes at the time when cryptocurrency’s price is badly plunging but he is optimistic about the future of Bitcoin and Ethereum in particular. According to him, Bitcoin could could head towards $100,000 sometime in 2018.
When Kay first predicted about the price increase of Bitcoin, the currency was trading at just $900 per coin but we saw what a big sensational news Bitcoin became in 2017 as it almost touched US$20,000.
“First off, you could argue we have had a proper correction in Bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts,” Van-Petersen told CNBC
He also predicts that with regards to the trading, Ethereum could also outperform Bitcoin this year.
I wouldn’t be surprised if it’s something we are seeing. It’s kind of building a foundation, then will re-rate a bit higher.
Ethereum came after Bitcoin, it has a more unified leadership than Bitcoin, he said. They seem to be a bit further along the way in regards to forming the solution to scaling issues. And you can see transactions on their side eclipses transactions across other cryptos