Nick Colas, Wall Street analyst and co-founder of DataTrek, said in a note that bitcoin prices will range from $6,500 to $22,000 during 2018.

Colas' analysis and affirmation in this regard was made known through CNBC and the official website of the company it is co-founder, DataTrek Research, which is responsible for providing services related to data analysis and investment. Colas also pointed out that he predicts high volatility in the price of bitcoin for next year, as the first cryptocurrency skyrocketed by more than 1,600% throughout 2017.

In recent days the price of bitcoin decreased along with the market for cryptocurrencies in general, to reach 11,000 dollars, after having touched $20,000 when the future bitcon contracts were launched by the CME Group. By the time Colas issued his opinions, the price was around $15,700 per BTC.

Thus, the analyst calculates a price range that will be between a minimum of $6,500 and a maximum of $22,000 per BTC for the coming year, while "a price of $14.035 would be a reasonable midpoint "; in fact, at the time of writing its value is $14,612.50 per unit according to CoinMarketCap, which according to Colas is reassuring as it is on the way to its valuation. In the analyst's words:

"In short: bitcoin can reach $22,000 and still have a reasonable price, or drop to $6,500 and also be properly priced (...) We expect to see bitcoin being exchanged at both prices in 2018."

In another of his predictions for bitcoin 2018, the financial analyst explained that during the following year bitcoin is expected to experience at least 4 strong drops of 40% or more.

It should be noted that Nick Colas has been following the bitcoin movement for at least four years. In his analysis, he compared the value of cryptocurrency with the use, issuance and circulation of the $100 bill, in view of their shared use as a kind of protection for the savings of their holders in countries with high and constant inflation. After making a series of mathematical calculations on which he based his study, the expert came to the above conclusions.

It is also worth mentioning that 2017 has been a year of success and several remarkable historical highs for the first cryptocurrency in the market, which although they account for its volatility, also demonstrate that it continues to grow and remain in the first place both capitalization in the market, and recognition by people belonging to and alien to the blockchain ecosystem and cryptocurrencies.