$50,000 to $2,800: How Bitcoin Price Targets of Experts Dropped 95%22.36

In early 2018, when the price of Bitcoin (BTC) first dropped from $20,000 to $6,000 and recovered to $11,000, the majority of traders and investors were still highly optimistic in the short-term price movement of the dominant cryptocurrency.

Respected entrepreneurs and investors including BitMEX CEO Arthur Hayes, Morgan Creek Digital partner Anthony Pompliano, and Wall Street analyst Tom Lee predicted the price of BTC to exceed $50,000 by the end of 2018.

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