Trader Who Predicted Bitcoin’s Bear Market Now Sets a $50, Price Target. Peter Brandt, a trading veteran who back in January of last year predicted bitcoin’s 84% decline, has now set a $50, price target for natur-holzbausteine.de: Luc Lammers. May 16, · May 16, at AM which has called for an end-of-year $36, target for bitcoin in , with a peak of $64, during the year. Driving this increase in price. The last few weeks have further increased my confidence in the Bitcoin rally up ahead. My previous target was $, EOY. My revised price target is $, for Bitcoin by the end of December My understanding is that this rally will most likely coincide with a stock market rally before things take a turn for a bear market in the beginning of Author: Jefecaan.
Target bitcoin 2018Bitcoin Stalls as Analyst Predicts $25, Price Target By Yearend
Do you really believe that with all that's going on in the blockchain industry? Comment: Bears Running Scared. Candle just closed below. Just a little more patience. We're close to the next bullish impulse. Comment: Bingo! We can all finally get some sleep now.
It's over. Jefe DarkFlames DarkFlames , See that monthly chart above? That's the mother of all your fancy trends, patterns and technical analyses. I like to keep it simple. As long as this pattern holds, I'm a buyer. Amjadsid Jefe. It's this first-to-market advantage of bitcoin, as well as these other factors noted above, that have some Wall Street analysts and strategists placing some very lofty price targets on the world's most popular token. How lofty, you ask? Let's take a look.
While it's really a game of "take your pick" when it comes to wild bitcoin price targets, the following five estimates stand out as particularly mind-boggling. The wildest prediction of all comes from John McAfee, the outspoken former CEO of the antivirus company that bears his name. McAfee believes bitcoin's relative scarcity and growing adoption provides a path to considerable appreciation over the next two-plus years. Pfeffer's price target relies on two primary catalysts.
First, he assumes that bitcoin will replace gold, since it's considerably easier to store and is more secure. Secondly, he opines that bitcoin could replace some form of reserves at global central banks over time.
Chief to their thesis is the idea that growing mobile penetration will increase the number of non-cash transactions processed by these devices, driving bitcoin adoption. Liew and Smith suggest that bitcoin may one day account for half of all non-cash transactions, with the aggregate bitcoin user network growing to about million users.
Driving this increase in price, according to the company's head of research, Sam Doctor, is the expected uptick in bitcoin mining. Fundstrat believes bitcoin miners are the primary sellers of bitcoin, which provides a pretty clear downside buffer i. If you ask me, I'd suggest these price estimates are ridiculous. While I've certainly been wrong about bitcoin before, I don't see how any of these price targets are achievable given the hurdles bitcoin has yet to overcome.
For starters, bitcoin's blockchain technology is considerably slower than its peers when it comes to validating and settling transactions. With an average block-processing time of 10 minutes -- i. Meanwhile, some of its peers can complete the same process in a matter of seconds. The Lightning Network may offer bitcoin hope of closing this gap, but there are no guarantees.
Another issue with bitcoin is that it may never be broadly adopted as a medium of exchange. The decision is a victory of sorts for Coinbase, because the IRS originally demanded that the exchange turn over data on more than 1 million accounts.
After all, only about US taxpayers declared crypto-related gains or losses from to The IRS must be salivating at the prospect of unearthing billions of dollars of unreported income related to crypto transactions. But what exactly is it looking for?
And should you be worried if you have unreported crypto profits? This means that the concepts of capital gains and capital losses apply. For instance, if the value of the cryptos you hold increases, the gain in value must be computed and reported each time you sell, spend, or otherwise dispose of them. On the other hand, if you simply buy and hold cryptos, no tax is due. Capital gains tax will be due on the gains.
Plus state tax, if you live in a state with an income tax.