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Bitcoin could trade in a range of $6,500 to $22,000 in 2018. This is according to analyst Nick Colas at DataTrek Research, who has been covering the cryptocurrency for the past four years.
"Bottom line: bitcoin can rally to $22,000 and still be reasonably priced, or plummet to $6,500 and also be correctly valued," Colas said in his daily note. "We expect to see bitcoin trade for both prices in 2018.
"Bitcoin and cryptocurrency are hard to value and their economic utility relies on use cases that are not yet built. Of course the volatility we've seen will continue," he added.
