Kenetic Capital Managing Partner Jehan Chu forecast the success of bitcoin could be on the verge of a renewed boost, pushing current values to double by the end of the year.
Mr Chu said: “I really think in 2018 not only will we see $50,000 price levels for bitcoin but I think we’re going to be seeing cryptocurrency and blockchain technology emerging from its adolescence.
“It will be coming into its own as an empowered and self-confident, self-aware technology. And we are not going to be talking about how blockchain is impacting the market. We are going to be talking about how blockchain is impacting the world.”
Last month it was reported Goldman Sachs had been in talks to set up a trading desk to make markets in digital currencies such as bitcoin, signalling the cryptocurrency had gained a permanent role in international finance despite its volatility.
Speaking to Bloomberg, Mr Chu added: “I think what we are seeing now, the volatility, is the market inhaling and exhaling.
“What we are really seeing in the long-term is the body of blockchain and the application side are continuing to develop.”
Bitcoin has steadily recovered from the plunge of the Christmas holidays when it decreased of almost 50 percent.
According to Coindesk at 14:36, on January 10, bitcoin price is $13,777.08.
Its rivals ethereum and Ripple are slowly catching up with the so-called bubble in the cryptocurrency run.
Ripple is speeding ahead to become the world’s second-biggest cryptocurrency and it announced in January that crypto token XRP will be used on the top three money transfer sites.
XRP took the digital currency world by storm, soaring from under $0.01 to over $1 a coin in under a year.