Bitcoin Could Reach $50,000 in 2018 and $500,000 by 2024 — Here’s How

A pair of Bitcoin permabulls believes that the top-ranked cryptocurrency will reach new highs in 2018 and beyond. 

Human Psychology and Bitcoin Price

According to Anthony Pompliano, Bitcoin will reach $50,000 by the end of 2018.

In a recent tweet, the partner at Morgan Creek Digital Assets declared that the remaining months of the year would be interesting from a price movement perspective.

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.

— Pomp 🌪 (@APompliano) July 25, 2018

Pompliano bases his BTC price forecast on three cardinal parameters: human psychology, ETFs, and institutional investors.

Concerning human psychology, Pompliano identified the palpable buzz and excitement in the market once any positive price movement occurs — as we’ve seen this week. He also said that people generally tend to like round figures, thus leading to…