My conservative estimate for end of 2018 is $15k-20k, so that's what I'm hoping for.
I think its very unlikely it won't be at least $15k.
I could see it going as high as $25k next year since I definitely think institutional investors will start getting on board in 2018 and the price will really start booming.
Wow, that's a huge number. And that's still conservative?
I was going for about $10K but you even predict it to reach at least $15K. Interesting, I really do hope for the price to reach that much by the end of the 2018. But in fact, I did not expect for bitcoin to be this high for 2017 so I guess anything may be possible. For all we know, it could get even higher than all of our predictions.
Do you really think that is a huge number? I mean we went from $1000 to over $6400 in 10 months. It's gone up 9x in exactly the past year. Even $25k is only 3.9x in the next 14 months. $15k would only be 2.34x in 14 months. 48 hours ago it was $400 less than it is now.
Yes absolutely $15k for 2018 is EXTREMELY conservative. I mean heck, assuming the hard fork doesn't hurt the price, I could see Bitcoin possibly hitting $10k in January. We may very well see $7k in the next week or two. I'm actually starting to think even $20k for 2018 is rather conservative.
I don't even know what you are thinking with $10k for 14 months from now. It just broke $5000 for the first time 19 days ago (going by coinbase price) and today it hit $6400. The raw dollar value of appreciation is picking up, as it always has been over the course of bitcoin's life because bitcoin is on an exponential growth curve - the more money that comes in the higher the price goes so even more and more money comes in as people realize it's not just gonna crash and there is lots and lots of money to be made. Other than in the wake of the Mt. Gox crash (2014-2015) Bitcoin's price has always been going up by more dollars each year than the previous year. Let's just say Bitcoin hits $8000 by the end of this year, that's a $7000 gain this year. So at minimum we can expect more than $7000 gain in 2018, and likely MUCH more. So if Bitcoin ends 2017 at $8000 (and I think it is likely to be higher than even that) that puts a good absolute minimum prediction for 2018 at $15k, but much more likely it will be $20-25k or even higher in 2018.
Bitcoin does not have linear growth, it never has. Why would you predict linear growth of as your $10k prediction suggests far worse than linear growth? It is an asset that is experience the normal exponential S-curve that all widely adopted new products experience. So while 2016 went up by hundreds, 2017 went up by thousands, 2018 will go up by $10-20 thousand, and for probably at least a few years after that until the global bitcoin adoption starts leveling off as it nears the top of the growth S-curve, we can expect an increase of several tens of thousands of dollars each year.
So for bitcoin price think $1000 (2016) -> $8000 (this year) -> $20k (2018) -> $40k -> $70k ->$110k -> $160k -> $200k+... perhaps starting to slowdown around that point, maybe not until a lot higher, maybe a bit lower.