Bitcoin forecasts to reach $5,000 in the coming months
Introducers believe that the price of bitcoin will reach $5,000 within a year. He said Bitcoin is gaining popularity and could reach above $5,000.
Stock research analyst Moas points out that the presence of just 21 million bitcoins will naturally push up the price of bitcoin due to increased demand. Bitcoin tripled its price this year, recording $3,025.47 on June 11. On Wednesday (July 5), it traded near $2,600, more than doubling the $968 on December 31, 2016. Mr. Moas
Help, said that he couldn’t help him from his soaring asset (virtual currency) and bought Bitcoin for the first time recently. He also told CNBC that losing money with cryptocurrencies is no less painful than doing nothing. Moas said he has invested hundreds of dollars in Bitcoin, Ethereum and Litecoin through Coinbase. He intends to invest more in the future. Monas will publish a 40-page report on cryptocurrencies over the next few weeks.
Bitcoin is not overrated
Moas says these currencies can absorb more capital without being overvalued, as there is very little capital in the world in the crypto market. The value of global debt and equity rose to $212 trillion in 2010, according to an analysis by the McKinsey Global Institute.
Meanwhile, market capitalization of cryptocurrencies has increased from less than $20 billion in early 2017 to about $100 billion, less than one-tenth of the world’s capital markets, according to coinmarketcap.com data. The market value of Bitcoin is currently about $42 billion. More detail is available at Bitcoin Supersplit.
According to Moas, the same thing that happens every time a new technology comes out can result in fraud and people losing a lot of money in the crypto market. But in his view, he should invest in cryptocurrencies. He said that we are currently in the middle of the second inning of nine innings in a baseball game. Many also believe that blockchain technology supporting Bitcoin will change the world like the Internet.
There is no proof that the price of Bitcoin will reach or not reach $5,000 within the year, but it can be said that the demand is increasing every day. Similarly, it is difficult to discuss whether it is a bubble or not. Bitcoin and other virtual currencies (crypto currencies) do not seem to have backing assets. But there are needs. This will be a bit similar to what was called the IT bubble. As Mosa points out, there were many people who failed due to fraud or IT speculation even during the IT bubble. The companies that remain in the IT bubble are giant companies such as Alphabet (Google) and Amazon that are now indispensable in the Internet age. Can Bitcoin survive?
The current downtrend is by no means the end of Bitcoin
Brian Kelly , CEO of US investment firm BKCM , argued on the CNBC television program Fast Money that Bitcoin is not dead due to the current downtrend in the virtual currency market .
・Bitcoin, which currently trades below $6000, hit a record high of $20,000 in December 2017, but has shown a nearly continuous decline since last November. Transactions are being made at the same price as.
・Financial Agency referred to news that 6 exchanges such as BitFlyer issued an order for improvement, and in the short term, the situation would be “a little severe”, but in the long term, it would be more “firm” for the exchange. Useful for system construction.
That Mount Gox announced that it would repay the customer and begin civil rehabilitation proceedings.
The confidence of Mr. Kelly can also be seen from the fact that he used By no means, which represents a strong denial.