With bitcoin prices exploding as of recently many trading professionals too are making their predictions for the future. Kenetic capital, one of the biggest venture capital firms in China specializing in blockchain firms and funding, predicts bitcoin to smash the $50,000 barrier by the end of 2018.
I think we’re going to see $50,000 by the end of 2018 for bitcoin. I think with the one-two punch with the Cboe and CME I think the entire world is on watch now for what is to come and what the real liquidity that can enter this market will actually look like.
Jehan Chu, Kenetic Capital managing partner
Following the development of bitcoin futures by the Chicago mercantile group, bitcoin markets are set to receive billions of USD in fresh asset. This has recently been complemented by the Chicago Board Options Exchange which has also put into action, plans for bitcoin based derivatives to be offered up to existing clientele. Launched today, the bitcoin futures offered by the exchange will be fee free throughout this month allowing investors to easily short the cryptocurrency.
To conclude, bitcoin markets are currently growing at a unprecedented rate peaking at well over $17,000 just a few days ago. Showing no signs of slowing down, the predictions set out by the venture capital firm are feasible to say the least. In line with other bullish predictions sent from the likes of Mike Novogratz (one of the richest hedge fund managers worth well over a billion dollars) who predicts bitcoin smashing the $40,000, Bitcoin is set to have a exciting year ahead.
You can watch the entire interview of Jehan Chu on Bloomberg TV – https://www.bloomberg.com/news/videos/2017-12-06/kenetic-s-chu-sees-bitcoin-at-50k-by-end-of-2018-video