It has been some year for the cryptocurrency market and we’re yet two months to go till the end of it. Some die hard proponents would suggest that the year has been dull and unlike last year, we’re nowhere near the price spike seen in the biggest cryptocurrencies. But to be realistic, the space as a whole has had a lot to endure and prices are not everything that the crypto market feeds on.
However, most are interested, as ever, in price predictions and that is the question we took to one of the most prominent crypto enthusiast cum analysts and newly inducted Forbes Finance Council member, David Gokhshtein.
Talking to BlockPublisher, David revealed that the Bitcoin market can still go beyond the 10,000 mark to mark a significant end to 2018. However, he posed uncertainty as to when that might happen. He said:
Yes, [BTC gains momentum] I believe we go over 10,000 but I’m still not done with my research to see when I believe it will fall into that area.
David, a huge proponent of the NYSE backed ICE company Bakkt, proposed of its role in getting the market up and running. He also discussed that there can be two kinds of situations for Bitcoin. It may either go down before a huge rally or there could be just the rallying. Either way, its market is set to change drastically in the coming months. He shared:
Two scenario — first we see us go down before a huge rally, or we just rally. But I believe that we are going to rally. Bakkt comes in, people get excited and the ball starts rolling.
The market is most fashionably driven by Bitcoin and however its price fluctuates and more than anything, it serves as a psychological aspect to anyone who is incoming to the crypto space. A Bitcoin rally has most often meant for the whole market to rally and David believed no differently. He shed importance on the psychological factor Bitcoin brings and how it also helps people to jump back into crypto. He stated in reference to his prediction:
Once we hit 10,000 on BTC – Psychologically people will start jumping back into crypto.
Where the market is headed over the next two months is yet to be seen, but if the BTC rally is to drive the space altogether and if last year’s boom is anything to go by, we’re in for a treat come the end of 2018.