NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

$50,000 to $2,800: How Bitcoin Price Targets of Experts Dropped 95%

Joseph Young
Joseph Young
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In early 2018, when the price of Bitcoin (BTC) first dropped from $20,000 to $6,000 and recovered to $11,000, the majority of traders and investors were still highly optimistic in the short-term price movement of the dominant cryptocurrency.

Respected entrepreneurs and investors including BitMEX CEO Arthur Hayes, Morgan Creek Digital partner Anthony Pompliano, and Wall Street analyst Tom Lee predicted the price of BTC to exceed $50,000 by the end of 2018.

“I’ve stuck to my $50,000 Bitcoin price target for end of year 2018. Still have high confidence on the $50,000 number. The timeframe is the big unknown. The next 5 months will be fun to watch,” Pompliano said at the time.

While Hayes stated $20,000 to $50,000 is possible for BTC, he recognized that a fall to $5,000 is also a possibility.

“Something that goes up to [around] $20,000 in one year can have a correction. We could definitely find a bottom in the $3,000 to $5,000 range. But we’re one positive regulatory decision away, many an ETF approved by the SEC, to climbing through $20,000 and even to $50,000 by the end of the year,” Hayes stated on CNBC’s Fast Money.

Predictions Retraced

Since then, Hayes, Pomp, Lee, and Charlie Shrem, have retraced their predictions, due to the length of the correction of the cryptocurrency market.

In late August, Pomp stated BTC could decline to $3,000 before it hits $10,000.

“The final data outputs left me with a few uncomfortable conclusions. The most notable one is that we are likely to see Bitcoin near $3,000 before we see Bitcoin at $10,000 again. If this is true, that means we still have ~50 percent price decrease to go. Things may get really, really ugly if this happens.”

This week, Shrem shared the sentiment of Pomp, stating that BTC could fall to $2,800 in the short-term, despite stating that May was the last time BTC would fall under $10,000.

As much as I don't want to agree, I agree.

— Charlie Shrem (@CharlieShrem) October 17, 2018

Difficult Market to Predict

Bitcoin is extremely difficult to predict because the cryptocurrency market is still at an early stage. There exists a wide range of variables, as seen by the sudden surge in the price of Bitcoin on October 16 from $6,150 to $6,700, that can significantly and abruptly impact the market.

As Erik Voorhees, the CEO of ShapeShift said, rather than formulating specific numbers that are not backed by statistical or quantitative evidence, it is more practical and of less risk to understand the macro trend and the psychology of investors in the market.

“I don’t expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while… But I think we are done with a majority of the collapse.”

Currently, the cryptocurrency market is in the same state it was in earlier this year. The volume of the market is low and BTC has demonstrated record high stability since August. It still needs confirmation in the range of $7,000 to $8,000 to initiate a short-term rally by the end of the year.

The relatively low trading activity in the cryptocurrency exchange market suggests that many traders observing the price movement of major digital assets.

Tweet123Share196ShareSend
Joseph Young
Joseph Young

Joseph Young

Joseph is a web developer and designer, writer and a passionate musician who loves to travel often. He's worked as a researcher for a number of venture capital firms and as a freelancer designer for resorts and corporations in Korea and the Philippines.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Exchange Supply Ratio Declines After Fed Cut, Setting Stage For $120,000 Test

Earlier this week, the US Federal Reserve (Fed) cut interest rates by 25 basis points, providing the much-required impetus to...

Ash Tiwari 3 hours ago
circle-deploys-usdc-hyperliquid-next-wave-of-crypto-investment-tw

Circle選擇部署USDC穩定幣生態:以HyperLiquid為核心的加密投資浪潮

加密世界的進化,總是以一種奇異的方式呈現—理性與想像並行,投資與敘事交織。在2025年的秋天,Circle與HyperLiquid之間的結盟,正是一場結構性轉變的起點。這不只是兩個技術團隊的對接,也不...

Peter Chow 4 hours ago
ASTER

Backed By CZ, Aster Token Ignites With 1,650% First-Day Rally

Aster’s native token, ASTER, surged 1,650% in its first 24 hours of trading and reached $0.528, according to platform reports....

Christian Encila 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano, ADA, Charles Hoskinson

ADA Holds $0.90 Support As Hoskinson Says Cardano Will ‘Break The Internet’

Rubmar Garcia 31 minutes ago
Dogecoin

Dogecoin Ready To Bark Again? Analyst Sees Path To $0.45

Keshav Verma 1 hour ago
Bitcoin

Countdown To ‘Bitcoin Bottom Day’: Why September 21 Could Change Everything

Ronaldo Marquez 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後 の価格予測:ETF発足で新たな成長ステージへ

    ドージコイン 今後...

    16 hours ago
  • リップル 今後の価格予測:現物ETF効果で4ドル到達を狙うXRP

    リップル...

    16 hours ago
  • 仮想通貨プレセール:専門家が次の有望ミームコイン候補を予測

    ...

    16 hours ago
  • 仮想通貨おすすめ:次のブルランでシバイヌを超える成長候補の4トークン

    ...

    17 hours ago
  • 新しい仮想通貨トレーディングボット、エコシステム大型アップグレード前にICOで400万ドル突破目前

    ...

    17 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.