It’s difficult for crypto investors to predict future with a positive outlook in an extended bear market. However, an analyst predicted Bitcoin will surely cross $10,000 mark.
See also: Ethereum [ETH], Litecoin [LTC] rally may potentially signal end of bear market
According to CryptoSlate, a senior analyst with eToro, Mati Greenspan said that the largest cryptocurrency may hit $10,000 mark by year-end.
With the recent surge in price, the analyst thinks that $10,000 is no longer a distant dream. There has been a buzz about Bitcoin as it has climbed over 20 percent last week and it’s trading at $8,218.33 on Thursday. In fact, participation and the overall excitement in crypto investment have also increased.
The senior analyst believes that it will be able to generate enough interest, participation, and excitement to push past the key $10,000 mark before the end of December 2018. The prediction of the analyst stay limited to Bitcoin and doesn’t hint anything much about the overall market.
Although Bitcoin continues to rise from the record low in June, traders are clueless about the future of other virtual currencies which are trading flat and their prices depreciated.
Greenspan thinks Bitcoin isn’t affected by the internal squabbles which create troubles in relatively smaller projects. Due to its enormous size, it projects never hit any roadblock. The rarity of Bitcoin has been an advantage for the cryptocurrency as it has already secured its position and proved to be a front-runner in the market, while other coins are still in the development stage.
It can even serve like the traditional currencies to store funds. For that, a certain amount of stability is needed which is not proven yet. A better long-term goal may increase the price stability level than continuous ups and downs in the changing landscape of Bitcoin future market.
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