Crypto experts have revised their 2018 predictions for bitcoin in 2018. By year's end, the world's most popular cryptocurrency is forecast to hit $27,898 - 400 per cent above today's price. Dogecoin, meanwhile, is still rated the highest potential mover.
Cryptocurrency experts have downgraded their bitcoin forecasts for the end of the year by 26%, but still believe the coin has huge growth potential.
Comparison site finder.com.au has just released the results of its April Cryptocurrency Predictions Survey, forecasting how the top 10 by market cap and top three trending cryptocurrencies will perform in 2018.
Obviously, predictions of crypto prices eight months out has to be taken with several fistfulls of salt, and it's been a savage month across the board since finder.com.au's March survey. Another wave of falls wiped an estimated $US7 billion off the major coins in 30 minutes overnight. Bitcoin had its second-worst quarter on record at the start of 2018, declining by over 50% against the US dollar.
In just the last month, it feels like Bitcoin has surged to mainstream prominence, popping up on social media, TV, radio and just about anywhere information is exchanged. However, though Bitcoin may be the most popular cryptocurrency, it’s not the only one – arguably, it’s not even the best one.
We’ve rounded up the ways you can buy Bitcoin, other cryptocurrency and altcoins in Australia.
Comparing the forecast market capitalisations for bitcoin, bitcoin cash and ethereum, ethereum is predicted to see the highest growth by the end of the year of 234% - more than double that of bitcoin (114%).
Bitcoin cash came in third with an increase of 40%.
The biggest potential mover is once again the currency created as a joke - dogecoin.
The panellists predict dogecoin can still rise off its current price of 0.0036 cents by 5,838%. In March, they expected it to rise by 2,920% off 0.0052 by the end of the year.
Cardano is expected to have the second greatest increase (812%), followed by Ripple's XRP (526%).
The full details of the report, including how the experts came to their conclusions, can be found here.