David Drake, LDJ Capital founder and chairman, has claimed that Bitcoin value will hit $30,000 by the end of the year, putting to an end the continuous drop experienced by investors over the last few months.
Speaking to Bloomberg, he predicted that the coin would be able to reach the lofty heights due to 2018’s refining of the sector and growing popularity in the US and Asia.
Going against the thoughts of many, Drake also puts the potential surge down to increased involvement from regulatory bodies as well as Wall Street, and predicts that Bitcoin will not be alone.
Instead of the most well-known coin becoming ‘one currency to rule them all’, he says ‘hundreds’ will remain on the market.
After a “cold winter” for cryptocurrencies Drake, and many others, remain optimistic that the era of cryptocurrency is still very much alive.