Cryptocurrency forecasters have revised their end of year prediction for Bitcoin down, again

At least these people shucking oysters blindfolded are guaranteed a meal. Picture: Getty Images

The gap between what Bitcoin is worth right now and what it will be worth in five months time continues to narrow.

Finder.com.au’s cryptocurrency experts have again slashed their December 31 target for BTC, cutting it from $21,228 last month to $19,605.

In January, it was $44,558. In May, it was $30,925.

At this rate, the team of nine fintech leaders will be close to bang on by the time December’s predictions are due.

The reality is, Bitcoin is actually behaving almost like a regular currency in 2018:

Image courtesy coinmarketcap.com

There’s nothing historical in the year-to-date that suggests a spike is coming. The anticipation of such most likely stems from a pending call on the US Securities and Exchange Commission.

It’s expected to make final calls on up to nine proposed bitcoin exchange-traded funds in the next two months. Coindesk has a runlist of how the deadlines for those proposals are lining up here.

The nearest — a decision on two funds from ProShares – is nine days away.

But back to the finder.com.au panel, which now has Bitcoin and Bitcoin Cash as its worst performers of 13 popular cryptocurrencies by the end of the year, at 74% and 63% growth respectively.

Other old stagers such as Ripple (76%) and Ethereum (93%) are also struggling.

The potential for big gains right now, according the panel, is in DigiByte, up 132% from $0.041 to $0.13, and EOS, up 131%.

None of finder.com.au’s panel hold Digibyte, and just two hold EOS.

Only one holds TRON, which in July was gifted a potential 342% rise by the end of the year, but this month has been slashed to just 27%.

The full August report can be found here at finder.com.au.

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