Normally most analysts’ predictions wouldn’t be too newsworthy, but this one is an outlier for a few reasons. First, Saxo Bank analyst Kay Van-Petersen predicted the cryptocurrency will skyrocket to between $50,000 and $100,000 per coin this year. That’s a jaw-dropping valuation. But it’s the second reason this prediction is getting attention (via CNBC). Van-Petersen was the analyst who in December 2016 predicted bitcoin’s 2017 meteoric rise. At the time bitcoin was trading at $900 and Van-Petersen predicted it would go to $2000 in 2017–which it did by May that year. Currently, bitcoin sits around $13,600 per coin, meaning Van-Petersen’s price point has a way to go, but if he is right, the sky might be the limit for cryptocurrency this year.
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