AlphaShark’s CEO Andrew Keene just released his top three cryptocurrency predictions for end of 2017, beginning 2018 and it includes bitcoin reaching $25,000.
Keene, a regular market commentator, is an active trader including futures and commodities. Crypto markets are highly volatile and subject to significant fluctuations, so always trade with caution.
Bitcoin which at the time of publication was $14,650 a -4.03% drop in the last month. His first prediction is the rise and fall then rise of bitcoin.
Back in December last year, the digital currency hit a peak just below $20,000. Keene at the time of his predictions the coin was at $17,000 and its market cap at the time accounted for 63% of the market.
He made the bold pronouncement that in 2018 it would drop to $9K before a rise to $25K.
His next prediction was about Coinbase, the digital currency platform, which has 10 million plus customers and opens 100,000 accounts daily. The problem with Coinbase according to Keene is that it’s limited by the number of coins listed: Bitcoin, Ethereum and Litecoin.
Coins to come
He said Coinbase would add three more digital currencies in the next six months. Retail money providing a boost.
Well, Bitcoin Cash prediction came true (although telegraphed a bit in advance) when it suddenly joined Coinbase on 20 December 2017.
Bitcoin cash would be the big one Keene predicted “because once it’s listed on Coinbase then everyone buys it”. He expected bitcoin to see a jump from around $1,400 to $5,000. [As of 16:22 UTC on 8 Jan Bitcoin Cash was up 67% since last month to $2,348.]
Dash and Monero could be the other two digital currencies added to Coinbase.
Finally, Keene sees a heavy ban on initial coin offerings (ICOs) of which there are around and banned by China and North Korea but didn’t halt the popularity or demand for the offerings.
Separating good from bad
Detecting the good ones will require an investor to do their homework. Companies as of November 2017 had raised about $3.2bn a through ICOs ccording to Coindesk.
TechCrunch reported on Monday that Telegram plans to launch its own blockchain platforms and native cryptocurrency for payments on its own chat app.
These are predictions but the emphasis remains on doing your own research and to figure out how to separate the good from the bad.