The Wall Street consultancy firm, Quinlan & Associates, predicts the price of Bitcoin to be under USD 1800 for end-2018.
Key Quotes via Business Insider:
"As an asset, we valued Bitcoin using a cost of production approach and a store of value approach, resulting in values of USD 2,161 and USD 687 respectively.
To value BTC as a currency, we estimated its utilization for both legal, retail transactions payments, as well as payments in the black market.
After significant testing, we calculated the price of BTC 1 to be USD 1,780."
Bitcoin is a bubble "waiting to burst
You do not value a hundred dollar bill by the cost of its production, but by the confidence you have in your ability to purchase with it in the future. The future is unknown, but we do know that the algorithm of Bitcoin prevents its value from being inflated away for the political convenience of those responsible for managing its value. We also know, that from a economic strategy viewpoint inflating away the debt is the most sensible. You cannot value a cryptocurrency on its production costs, value lies in the algorithm.