Late last week, the price of bitcoin rose beyond $3,500, and it currently sits slightly above $4,200. While some are skeptical of this steady increase in value, according to an expert observer, it won't be ending any time soon.
Veteran trader masterluc predicts that bitcoin will be worth $15,000 before the end of the year. He believe the cryptocurrency's current bull run will then continue into 2019, at which point its price will top out somewhere between $40,000 and $110,000.
Masterluc has historically been adept at predicting bitcoin's future value. He was able to accurately predict in March 2013 that the crypto would enter into a bear market in November 2013, and then in May 2015, he made a prediction that proved to be just slightly off point, missing the start of the crypto's current surge by just two months.
Masterluc isn't the only pundit expecting bitcoin to go from strength to strength. Earlier this month, Goldman Sachs analyst Sheba Jafari predicted that the currency could reach $4,800, having previously forecast a high of $3,691 as recently as July.
Bitcoin is on a roll at the moment, and predicting when this run will start to drop off is no easy task. Masterluc has a history of being right in his predictions, and many experts agree that the uptick will continue for at least a little while longer, which could have some major ramifications for traditional currency.
Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.