The bitcoin price recently climbed over the $8,000 mark for the first time since May 2018, according to CoinMarketCap. Many investors are now wondering if the tide has officially turned and the bull market is here to stay. Billionaire investor Marc Lasry told CNBC that the price of bitcoin could reach up to $40,000 as it becomes more accepted and easier to trade.
I believe that as regulatory uncertainty in the space continues to be resolved, mainstream adoption continues to increase, and the CBOE application for a bitcoin Exchange Traded Fund (ETF) is passed — which it very likely soon will be, in my opinion — that the price may well surpass $40,000 by the end of 2018 and could continue to climb as we enter 2019.
Make no mistake about it: as the co-founder of a bitcoin IRA company who has held bitcoin investments previously, I’ve noticed that 2018 has marked a year of major growing pains for the crypto sector. But with growing pains also comes great growth. As Lasry has purportedly said, I believe we will see bitcoin prices continue to climb. Let’s look at four reasons why.