Bitcoin News: What investors have to say?
Very rightly said, Cryptocurrency is the future of the financial industry. Everyone is watching to the various Cryptocurrency websites such as CoinMarketCap and CoinDesk. And Bitcoin is said to be the father of all other cryptocoins but at present we can see the prices of all the digital coins in plummet stage.
Bitcoin will rise till $100,000 USD in 2018, an analyst predicted in beginning of 2017 to CNBC. Another analyst Kay Van-Petersen of Saxo bank also stated that other altcoins may outperform Bitcoin. It was Van Petersen of Saxo Bank who had given the predictions of Bitcoin breaching $2000 USD in 2017 when BTC was trading somewhere at $900 USD according to CoinDesk (website which tracks prices of altcoins from various exchanges) in 2016.
Boom! Bitcoin crossed $2000 USD in May proving Van Petersen’s predictions correct. This was the time when the world got awareness of Bitcoin and digital currencies. On this Tuesday, Van Peterson stated to CNBC that Bitcoin (BTC) is likely to soar from the currency pricing to $50,000 – $100,000 USD. She, in her statement said, “First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts”.
Van Petersen also said that more institutions will start using this technology and many implications can be made of this technology but it will take time. For Bitcoin, it will require a rise of 635% rise from the Tuesday’s highest trade price of $13601.43, data by CoinDesk, to reach $100,000 USD. Days back to this Van Petersen said that Bitcoin could take approx. 10 years to reach $100,000 USD mark.
At present, from the beginning of the year, we have seen Bitcoin and other altcoins going sideways and the market decreasing day by day. Because of Bitcoin, being on No.1 position is losing the valuation and downfall seen in many altcoins high volatility and sell off this day.
Still Van Petersen says “I wouldn’t be surprised if it’s something we are seeing. It’s kind of building a foundation, then will re-rate a bit higher.” Yet Ethereum could outperform and cross Bitcoin the present year, says Van, “Ethereum came after bitcoin, it has a more unified leadership than bitcoin,” she said. “They seem to be a bit further along the way in regards to forming the solution to scaling issues. And you can see transactions on their side eclipses transactions across other cryptos.”
Ethereum is based on latest technology unlike Bitcoin and has developer’s groups which helps the technology grow constantly. And so many experts have to say this will bless longevity and certainty. Van Peterson, banker at Saxo Bank, is a investor who has invested in several altcoins and has predicted the future of Bitcoin to be a huge price rise.
Other experts such as Julian Hosp, Co-Founder of TenX, also said to CNBC in December about Bitcoin (BTC) to hit $60,000 in 2018. He also added that there will be rise in the rise but initially there will be a crash in the prices first. Dave Chapman, Managing Director of Octagon Strategy also supported saying Bitcoin to hit $100,000 in 2018.
Contrary to this, many major figures have called Bitcoin and Cryptocurrencies a big “Zero”. The Godly figure in investing sector, Warren Buffet tells CNBC cryptos will face a “Bad Ending”. Jamie Dimon, CEO of J. P. Morgan calls “Bitcoin” a ‘FRAUD’.
With this sadistic news comes from South Korea banning trade of Cryptocurrencies and France thinking over. It is now on investors who have invested in digital assets and those who are thinking to invest in, whether to stay or to leave the grounds.