A day or so ago I predicted the Bitcoin price would reach $18,000 peak. I was close, in the United States it did peak out at around $18,000 but in Asia it reached $22,000 (Korea). The method of seeing were the price could land is based on looking at trends in the log chart which is in my opinion the only view of the chart that matters. In addition, the full log chart from the beginning is how we can estimate the price under the assumption that user growth continues at the same rate and volume increases at the same rate. The peak price I predict for Ethereum based on trends is around $12,000 in 2018.
Summary:
- Ethereum will rise from $450-650, then from $650-1000 within 2-3 months.
- Ethereum will arrive at Casper Proof of Stake and make a massive upward swing to $10,000+ peak by late spring to early summer 2018.
- Bitcoin will spike in price to $50,000 peak in 2018.
[BitcoinCharts]
What could cause this to happen? The switch from ;POW Ethereum to Casper will in my opinion make Ethereum truly deflationary. This could in my opinion be a tipping point in the price rise for Ethereum to push it over $5000 (theoretically). I expect it to reach over $1000 early 2018 in the spring if not before the end of 2017 depending on what happens. Casper along with supply sinks, ICOs, and growth in the user base, will allow for Ethereum to reach a peak of $12,000. At the same time what will the price of Bitcoin be? $50,000+ in my opinion.
I do think Bitcoin is due for a correction and do think Bitcoin at least is in a bubble. At the same time most people have not bought in yet and are just waiting to get in. Looking at the Ethereum price history I arrived at a peak by looking at the maximum amount people were willing to pay in BTC, and also looking at the fact that Ethereum user base is growing along with BTC through Coinbase and other locations. So Ethereum is something people eventually will look to buy once people understand how easy it is to get it and have more exposure to it. Finally Ethereum being more geared toward the mainstream, can achieve a price over $10,000 in a very shocking amount of time.
2018 is going to really shock people with how fast and how high Ethereum rises. A lot of this will be due to actual utility of the ecosystem and developer momentum. Of course these predictions I am making can be wrong and should not be taken as investment advice. The authorities may be cracking down and a crack down could crash the whole market for 2018. These price predictions are really best case scenarios, if nothing bad happens to stop user growth.