Financial industry leaders talk about the development of the cryptocurrency industry: Bitcoin is not a scam and will continue to soar in 2018

Over the past six weeks, the Bitcoin and cryptocurrency markets have performed poorly, and many investors are waiting for the dawn. Last year, Babbitt reported on the development predictions of some cryptocurrency community celebrities, pundits and bigwigs for 2017, and most of them expressed bullishness on Bitcoin. Now, despite the continued decline of the Bitcoin market, many important figures in the blockchain industry and external investors still have a positive view on the performance of the cryptocurrency market in 2018.

‘The Wolf of Wall Street’: Bitcoin will crash after hitting $50K

Since mid-December last year, the cryptocurrency market has been on a downward spiral that seems unstoppable. Bitcoin prices peaked at $19,600, but fell to $7,200 six weeks later. Many traders are testing the bottom, with some believing the storm is about to end and others believing the price will continue to fall. Despite Bitcoin's poor performance and repeated "bottoming out" in price, many cryptocurrency investors and industry experts still believe that 2018 will be an exceptional year for Bitcoin, just like last year.

At the end of last month, Jordan Belfort, known as the "Wolf of Wall Street," said in an interview that he does not think Bitcoin is a scam. But he also does not think that Wall Street investors can easily manipulate this decentralized currency market. Belfort pointed out that the price of Bitcoin will create a new high again, likely to reach $50,000, and then it will fall again.

Tom Lee: Bullish on the cryptocurrency market  

A few days ago, Tom Lee of the investment company Fundstrat pointed out in an article that he is still optimistic about Bitcoin even though the market sentiment is not good at present. Lee believes that Bitcoin will reach $20,000 by the middle of this year, and the price of the currency should be $25,000 by the end of 2018.

It’s been a rough few weeks, but overall the cryptocurrency market is moving in a positive direction.

The price of the coin started to fall 84 days after it surged 150%. In other words, we think it is worth buying based on this level of risk and reward assessment, even if there is still some risk of decline.

What will the price of the currency be at the end of 2018?  

This week, the survey and decision-making assistance website Finder.com conducted a survey of nine well-known fintech investors to understand their views on cryptocurrencies in 2018. The cryptocurrencies involved in the survey are nine digital currencies including Bitcoin, BCH, ADA and ETH. The respondents are well-known executives such as Fintech Founder Clayton Daniel, Wyre co-founder and CEO Michael Dunworth, and Reuters' Joseph Raczynski.

The survey results show that the respondents predicted the price of Bitcoin to be $14,928 before March 1, 2018, and to reach $43,472 by the end of 2018. Each participant also gave the reason for the price prediction.

Wyre CEO said:

I believe that the introduction of the expansion plan will drive up the price of Bitcoin. In addition, the integration of buying and selling functions of Bitcoin ETF will further increase market penetration.

Still in the early stages  

Jen Greyson, founder of Neureal Network and a well-known female practitioner in the cryptocurrency field, said that the popularization of cryptocurrency has just begun.

As adoption continues to increase, we will see an increase in the price of Bitcoin and other altcoins - the practicality of this new asset class will be a major hindrance.

There will be plenty of opportunities to buy burgers or pay rent with crypto, and crypto prices will rise across the board — we’re still in the early stages.

Despite the mainstream media’s predictions that Bitcoin prices will continue to fall and even return to zero, there are still many people who believe that Bitcoin and other cryptocurrencies will succeed in 2018. In most cases, it is normal to have ups and downs, especially when prices hit bottom, the market usually recovers.