As Bitcoin slowly but steadily continues to lose value this month and with the rise of institutional investment in the space causing bulls to make predictions for the end of year prices that range from optimistic to seemingly delusional. Certainly no Bull The Motley Fool’s Sean Williams has made his own end of 2018 prediction list from which the following is abstracted.
The unstoppable crypto market in 2017 can be in part attributed to trading being done almost exclusively by retail traders who only saw profit on the upside which pushed the market cap higher and higher. As access to institutional investors has increased through the first months of 2018 and with both the CME and CBoE listing Bitcoin futures investors can now make money on both the upside and downside of the crypto market. This should result in a steady decline of the market cap Williams predicts. It’s not exactly going out on a limb to suggest that the total market cap isn’t going to get back over $830 billion in the next six months.
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