If you’re looking for a reliable Bitcoin price estimate, we will chime in with our two cents’ worth, and share some other estimates from respected analysts both within and outside the Bitcoin community. As we outlined in Bitcoin price prediction, our estimated high for Bitcoin in 2016 is $2,000 U.S. Dollars each. We are not necessarily estimating the Bitcoin will end the year at that price level, just that at some point his year the Bitcoin price will reach $2k.
Bitcoin Price Estimates From Within The Bitcoin Ecosphere
In general, those people who understand Bitcoin, and are active in the Bitcoin market have a much higher price estimate than those who are outside the Bitcoin ecosystem, and are “arms-length” financial forecasters.
Tim Draper, a venture capitalist who is actively involved in Bitcoin is estimating the Bitcoin price in Dollars to reach between $1,000 and $1,400 this year.
Hedge Fund manager Mark Hart believes that the price of Bitcoin could rise “exponentially” as mainstream Chinese investors rush to exit the Yuan before further devaluations. While Mark doesn’t provide a numerical estimate, an “exponential rise” implies a 4 or 5-digit Bitcoin price.
Bobby Lee, the chief executive of one of the leading bitcoin exchanges in China, BTCC, estimates that the price of Bitcoin could reach $3,500 by the summer of 2017.
Bitcoin Price Estimates From Outside The Bitcoin Ecosphere
Outside of theBitcoin ecosphere financial forecasters are more modest in their estimations of where the Bitcoin price is headed.
Forbes ran an article that stated, “Many are arguing that bitcoin prices are going nowhere but down.”
The Wall Street Journal editor tells the talking heads on Bloomberg that price is a distraction:
Regardless of the critics who diss Bitcoin, the trends speak for themselves. Those within the Bitcoin community “get it.” As more an more people wake up to the outstanding benefits offered by Bitcoin, more people will flock to it.
That makes it just about impossible to estimate that Bitcoin has anywhere to go but up.