Bitcoin To $55k? Mathematical Study Suggests It’s ‘Most Likely’ In 2018

Bitcoin will “most likely” cost over $50,000 in 2018 as a new mathematical study attempts to get a logical prognosis for its price.

Cautious Optimism For A Fivefold Increase

In results published by data scientist Xoel López Barata who conducted the investigation, Bitcoin appears set to hit $55,530 by the end of this year.

By contrast, the probability the largest cryptocurrency will be equal to or lower than at present is under 10%.

The rather more scientific evaluation joins the plethora of forecasts from various well-known figures in cryptocurrency and beyond, some of which remain wildly high despite Bitcoin’s recent halving in price.

Most recently, Trace Mayer produced popular findings that a 2018 Bitcoin costing over $14,340 would be “overvalued,” but which nonetheless saw the cryptocurrency having the potential to go over $100,000.

Math or Musings?

Barata used a Monte Carlo simulation with so-called “random walks” to unearth the potential for Bitcoin’s price future, refining the raw data to produce a graph of USD rates ranked by probability.

The results of the walks – or simulated price distributions created on the premise that Bitcoin’s future behavior would mimic that of its past – then delivered a target just over $55,000…

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