Despite its price plunge, some diehard bitcoin aficionados still say the beleaguered cryptocurrency could hit six figures by year’s end.
Tone Vays, a New York-based cryptocurrency analyst and blockchain consultant, has been among those arguing that the wild swings in bitcoin value since its debut in 2009 at less than a penny could mean that an even greater upswing may be possible this year.
“Right now I think that bitcoin should still go down in price, but it will recover,” says Vays. “$100K this year is possible, but that’s very high. I put the current fair value at $25,000.”