Will Bitcoin Reach $25,000 This Year?

&l;p&g;&l;img class=&q;dam-image shutterstock size-large wp-image-1067593436&q; src=&q;https://specials-images.forbesimg.com/dam/imageserve/1067593436/960×0.jpg?fit=scale&q; data-height=&q;640&q; data-width=&q;960&q;&g; Bitcoin prices could hit $25,000 this year, said analysts. Shutterstock

Bitcoin, the world&s;s largest digital currency by market value, could rise to $25,000 this year, &l;a href=&q;http://www.fundstrat.com/&q; target=&q;_blank&q;&g;Fundstrat&l;/a&g; managing partner Thomas Lee recently told &l;a href=&q;https://www.cnbc.com/2018/04/12/bitcoin-will-hit-25k-by-end-of-2018-says-noted-crypto-bull-tom-lee.html&q; target=&q;_blank&q;&g;CNBC&l;/a&g;.

To reach this price point, Bitcoin would need to climb&a;nbsp;&l;span&g;more than 200% from its current price of roughly $8,100, according to the CoinDesk&a;nbsp;&l;/span&g;&l;a href=&q;https://www.coindesk.com/price/&q; target=&q;_blank&q;&g;Bitcoin Price Index&l;/a&g;&l;span&g;&a;nbsp;(BPI).&a;nbsp;&l;/span&g;

However, several analysts maintained the cryptocurrency could experience a rally of this magnitude&a;nbsp;in 2018.

&l;span&g;&l;/span&g;

&l;strong&g;Bullish Predictions&l;/strong&g;

Seth Wiener, managing partner of venture firm &l;a href=&q;https://www.universitycg.com/&q; target=&q;_blank&q;&g;University Capital Group LLC&l;/a&g;, was in this camp.

&q;&l;span style=&q;font-weight: 400&q;&g;I see BTC closing the year around the $25K mark and hitting that price sometime before Christmas 2018,&q; he stated. &l;/span&g;

&l;span style=&q;font-weight: 400&q;&g;Wiener pointed to several positive developments affecting the space:&a;nbsp;&l;/span&g;

&q;Some point&s;s worth considering are Wall Street&s;s renewed interest in Crypto, the number of new institutional investors and investment firms plus involvement from iconic families led by George Soros and the Rothchild&s;s are huge positives. Individually they move markets combined you build a new blockchain financial system.&q;

&l;span&g;Sebasti&a;atilde;o Coelho, CMO of&a;nbsp;&l;/span&g;&l;a href=&q;https://flashmoni.io/&q; target=&q;_blank&q; rel=&q;nofollow noopener noreferrer&q; target=&q;_blank&q;&g;Flashmoni&l;/a&g;&l;span&g;, a blockchain company creating financial solutions for the unbanked and underbanked,&a;nbsp;said that Bitcoin could easily hit $25,000 this year as the regulations surrounding digital currencies mature. He stated:&l;/span&g;

&l;/p&g;&l;blockquote&g;&l;span style=&q;font-weight: 400&q;&g;We&s;ve seen government bans and proposed regulation negatively impact the crypto market, but as global regulation is introduced this year, we expect to see more government support for cryptocurrencies like Bitcoin. In fact, we&s;ve already seen the first sign of this, with 22 European countries signing an international blockchain partnership agreement this week. This, combined with increased public understanding of blockchain, will ultimately lead to a crypto boom this year.&l;/span&g;&l;/blockquote&g;

&l;strong&g;&s;The Sky Could Be The Limit&s;&l;/strong&g;&l;b&g;

&l;/b&g;James Tabor, CEO of blockchain company &l;a href=&q;https://www.mediaprotocol.org/&q; target=&q;_blank&q;&g;MEDIA Protocol&l;/a&g;, spoke to the great potential that Bitcoin has going forward.

&q;As long as blockchain projects continue to mature at their current rate, and we see adoption across the enterprise, then the sky could be the limit,&q; he emphasized.

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&q;Bitcoin is certainly the gateway for many in the crypto world,&q; said Tabor.

However, he emphasized that &q;for new highs to be attained, and sustained, we will need to see POCs becoming production ready, and true value being realized.&q;

Ari Nazir, managing partner of &l;a href=&q;https://neural.capital/&q; target=&q;_blank&q;&g;Neural Capital&l;/a&g;, a hedge fund that focuses on digital assets, also spoke to the market&s;s need for further maturation.

&l;span style=&q;font-weight: 400&q;&g;&q;In order for Bitcoin to reach $25k this year, the space first needs custodial services. Currently, there is a dearth of qualified custodians, which means each fund needs to maintain custody of their own assets. In order for institutional capital to enter the space, this must change.&q;&l;/span&g;

&l;span style=&q;font-weight: 400&q;&g;&q;Bitcoin will hit $5k before it hits $25k,&q; he predicted.&a;nbsp;&l;/span&g;

&l;span&g;Disclosure: I own some Bitcoin, Bitcoin Cash and Ether.&a;nbsp;&l;/span&g;

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