Where will the price of cryptocurrencies go in 2017? This is how the cryptocurrency industry experts analyze it

What do Bitcoin industry experts think about the price of Bitcoin in 2017? They are generally optimistic about Bitcoin, and this digital currency has broken many records.

Tulip bubble?

Bitcoin is often associated with economic bubbles. In fact, there has already been a tulip bubble in history ^[1] . But tulips are not a long-term and effective means of preserving value, nor can they be traded quickly around the world, and they certainly won’t appear in your mobile app.

In reality, Bitcoin and tulips are two completely different things. The price of the currency fluctuates up and down... and the price is higher each time.

Due to the failure of traditional economic policies, Bitcoin is becoming more and more widely used around the world; after people lose confidence in their own legal currency, they are more willing to take the decision-making power into their own hands; because the cash war in various countries will always affect ordinary people.

Anyone who has been in the cryptocurrency world for a few years knows that Bitcoin prices have a roller coaster-like trend. The first Bitcoin bubble started at $0.1 and eventually rose to $1. After this first price "leap", in June 2011, the price of the currency transitioned from $0.5 to $31, until... another jump! It fell directly back to $2, a drop of 100%!

However, Bitcoin, like Jesus, was reborn. In April 2013, the price reached $200, then climbed from $80 to $1,150 after a bubble, and finally broke through the 2015 low of $200 due to the Mt. Gox scandal.

And now we are heading for new heights. Don’t blink, because this “bubble” may push the price of the currency to $2,100, at least that’s what international investment bank Saxo Bank thinks.

Authoritative sources predict that the price of the currency will reach a new high in 2017

Juniper Research, for example, did not give a specific price target, but it believes bitcoin trading volumes could triple to 920亿美元in 2017 due to uncertainty in China’s economy.

Meanwhile, Vinny Lingham, CEO of Civic, has been relatively accurate in his predictions of the price of the cryptocurrency in recent years, and he recently pointed out that $800 is not the end of the price increase.

Lingham even believes that the price of Bitcoin will reach 3000美元in 2017:

Governments will become the largest buyers of Bitcoin, driving the price of the currency to new heights.

As we all know, Barry Silbert, CEO of Digital Currency Group (DCG) and Bitcoin investor, is also very optimistic about the development of the currency price. Silbert did not give a specific number, but he believes that the value storage function of Bitcoin will be valued next year, so the price of the currency will continue to rise.

When asked for his opinion, the Bitcoin economist Tuur Demeester put it succinctly in a tweet:

higher.

A voting campaign launched on Twitter is also very interesting:

Bitcoin investor Tim Draper, who bought nearly 80,000 bitcoins seized from Silk Road, believes the price of the currency will reach 1000到1400美元in 2017.

There are no bearish predictions at this time (if you have any, please share them with us).

Wait and see

The Bitcoin field is full of talented people, most of whom have been in the industry since the beginning. They are basically accustomed to the roller coaster price trend of Bitcoin because they understand that the development of this digital currency is difficult to accurately predict.

“I never even look at the price” is one of the most common phrases heard at Bitcoin conferences and meetups. Many people believe that “technical improvements are what we should focus on” because this is what really drives the price of the currency up.

Aside from potential negatives such as scaling and regulatory issues, the current momentum in the Bitcoin space is very positive. As Bitcoin continues to evolve amid volatility, global economic uncertainty, and overall technological innovation, in today’s market environment, we can only be sure of one thing: Bitcoin will continue to surprise us.

Notes (↵ returns to text)

1. The tulip bubble occurred in the Netherlands in 1637 and was the earliest bubble economy event in the world. The tulip bulbs introduced from Ottoman Turkey were extremely attractive, causing a rush to buy them, causing prices to soar wildly. After the bubble burst, the price was only one percent of the bubble price, causing chaos in major cities in the Netherlands. ↵