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Crypto Expert: Bitcoin Could Reach A Staggering $50k Next Year

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Just when you thought cryptocurrencies had bottomed out, the market was hit by yet another crash last week. Bitcoin’s value plummeted 14% in under 24 hours last week, dropping to below $5k, a new low for the cryptocurrency in over a year.

In fact, this has been one of the biggest bear market crashes in the history of Bitcoin. In a period of about 300 days, Bitcoin has slumped over 80% from $19.6k to about $3.7k. Back in 2011, the cryptocurrency nosedived almost 97% to $2.2, shedding nearly all its value.

Marius Kramer, touted as a cryptocurrency expert, highlighted that the correction could be triggered by investors who entered the market at below $5k, liquidating their investments in the cryptocurrency to avoid losing their initial investment – eventually driving its price down further.

Why is Bitcoin plummeting?

Despite critics, Kramer claims that the recent pullback was engineered by crypto whales who manipulate prices regularly. They have driven the crypto market lower, where the Bitcoin reached a 14-month low of $3.5k.

The speculative movements in the cryptocurrency market may result in significant losses for investors and could cause the market to tank. Most often, crypto whales use this move to re-enter the market at a much cheaper price.

Despite the catastrophic crypto developments of late, Kramer claims the downturn is simply the calm before the storm.

According to Kramer, Bitcoin might touch $50k by the end of the next bull run, estimated to be six months away. “I predict the bull market to start in late September, reaching a Bitcoin price of $20,000 throughout October, November and reach its peak of $50,000-$100,000 in December, January or even $150,000 with a bit of luck,” he wrote.

Bitcoin has risen by an average of 17x in every bull run. With the cryptocurrency trading at $4k per coin, a 17X return — the price might touch $68k. However, with the next bull run at least six months away, the market might well be choppy heading into the end of 2018.

Bitcoin price prediction

Crypto experts believe that the next rally will begin around Jan. 24, 2019, which is the estimated launch date of BAKKT – a trading platform for digital assets that is set to be launched by NYSE owner, Intercontinental Exchange (ICE).

Kramer expects Bitcoin’s price to rise to $10k around this time. He has also predicted a pullback to around $6k shortly after its rise.

Here’s a timeline of Kramer’s forecast for the cryptocurrency.

  • November 2018: Bitcoin will move back and forth between $4k and $4.8k
  • December. 2018: Price will touch $6k by Dec.10 and $8k by end of 2018.
  • January 2019: Price picks up momentum with the upcoming BAKKT launch and reaches $12k by Jan. 24. It then gets dumped to $8k
  • February and March 2019: Price bounces between $8k and $10k
  • April 2019: Price crosses $12k again
  • May-December 2019: Price may touch an all-time high and reach $50k with several blockchain and tokens showing users numerous technology applications.

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Video: Compound Interest, Explained

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A UPS worker never made more than $14,000 a year but retired with $70 million. How? Compound interest. Here’s how it works, courtesy of Investopedia.

 

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3 Ways To Invest From Your Smartphone For Under $5

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The numbers say 80% of millennials don’t invest in stocks.

Reason? Half say they don’t have money, one-third says it’s too early and another third says they don’t know how.

In addition to that, there’s demographic gap. “The average age of a financial advisor is 55,” said Douglas Boneparth, a New York City-based financial planner. “There are more financial advisors over the age of 70 than there are under 30.”

Despite these beliefs, you don’t really need much money, nor experience, to get started. (Just look at our fearless co-founder Odunayo Eweniyi and what she’s pulled off here)

Be that as it may, here are three ways to get started for $5 or less.

1. Stash

Image result for stash app

What: A micro-investment app (iOS and Android) with over 30 ETFs according to industry, sector and risk tolerance.

How it works: Download the app and choose your investment.

Minimum investment: $5

Cost: Fees range from $1 a month for accounts under $5,000 to 0.25% a year.

“We help people who don’t have a lot save money on a weekly basis,” CEO and co-founder Brandon Krieg said in one interview. “Stashers look like America, they look like people you meet every day: they are nurses and teachers and Uber and Lyft drivers.”

2. Acorns

 

What: iOS and Android app.

How it works: Download the app and choose one of six index funds. When you buy, say a cup of coffee for $1.75, it rounds up the change to $2 and deposits the difference.

Minimum investment: $5

Cost: Just like Stash, fees range from $1 a month for accounts under $5,000 to 0.25% a year.

“We’re not trying to preach austerity to the client, because that’s a bummer,” CMO Manning Field says. “Some people will say, ‘Don’t have the cup of coffee.’ We’ll tell you to have the cup of coffee and invest along the way.”

3. Robinhood

What: A commission-free investment app (iOS and Android).

How it works: Download and start buying stocks.

Minimum investment: Whatever stock you want to buy.

Cost: Free.

And by the way, if you want to get a fast start on real estate, here’s Forbes’ list of nine REITs with yields between 8% and 10%.

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CHART: How Blockchain Powers Bitcoin

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Blockchain, Bitcoin. Bitcoin, blockchain.

The two terms go hand in hand—and have become almost ubiquitous with this year’s insane rise (and fall) of Bitcoin.

But what does it all really mean? How does it come together? In this week’s chart, our friends at CB Insights break down exactly how blockchain powers Bitcoin.

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