Seeking Alpha: The many models I provide give different price targets for different times, but the common targets seem to be about $25,000 by the end of the year and about $91,000.
A lot has happened to bitcoin since my December 10 article. It seems like bitcoin bears got the decline they were waiting for. After surging nearly 1300% in 2017, bitcoin peaked at $19,343 on Sunday, December 17, 2017, and bottomed 69.2% lower at $5,957 early Tuesday, February 6, 2018. It seemed to be making a comeback, surging to $11,480 on March 4, before plunging again to $6,444 on April 1.
Is bitcoin a short-term buy now? Why has bitcoin fallen so much? Did the bitcoin bubble pop? Where will bitcoin's price be at the end of this year? I provide updated models and an updated Elliot Wave graph. Further, I look into the value of bitcoin as a currency.
The many models I provide give different price targets for different times, but the common targets seem to be about $25,000 by the end of the year and about $91,000.
We could see a spike to $74,000 by early September, or even a spike to $130,000 by mid-2018, or we could just get $20,000 by mid-year.