With the current performance of Bitcoin in the market today, it seems that it going up and some experts sees it would hit $50,000 by the end of the year.
Experts believe the cryptocurrency will go as high as $50,000 (about P2.6 million) by December.
Pool of experts also said that various cryptocurrencies would bounce back and rise higher than they did in 2017.
Experts pointed this to major technology developments and the entrance of institutional capital, reports CNBC.
“There is no reason why we couldn’t see bitcoin pushing $50,000 by December,” said Thomas Glucksman, head of APAC business development at cryptocurrency exchange Gatecoin.
The co-founder and CEO of Hercules Tech, Mick Sherman, also believes the digital currency will grow big this year.
Hercules Tech, a data science company focusing on blockchain and big data.
”The revolutionary nature of blockchain technology is what’s driving the hype and even though we may be years away from viable blockchain-based assets, we may very well see several more bubbles,” Sherman said.
It can be notable that Bitcoin dipped as far down as below $6,000 in value last Feb. 6, a big difference from the nearly $20,000 (around P1 million) record high that the crypto reached during the 2017 holiday season.
As of this writing, bitcoin has been seeing signs of recovery and is now back up to $11,000 (around P575,000) in value.