Will Bitcoin price double again?
Cryptocurrency experts are predicting that Bitcoin’s price will float again after in spite of the recent price stagnation,
The last six months has seen bitcoin’s price fall from more than $19,000 in December, to today’s value of below $7,700. The cause has been seen in the form of uncertain regulations, as well as the seizure of bitcoins in different legal cases, which were then sold on exchanges.
While the cryptocurrency markets continue to settle, the short-term forecast is expected to remain relatively stagnant. In the medium-to-long term, bitcoin’s value are expected to go up, as big institutions enter the crypto space in a bid to gain first-mover advantage, in bid to legitimise the market.
This view that major institutions will provide a boost to bitcoin and other cryptocurrencies is shared by other figures in the space, who believe bitcoin will finally break back above $10,000 in the coming months.
Expert believe that as the regulatory landscape clears up, Crypto market can expect far more investors, including big ticket institutions, to make their first cryptocurrency investments.
Bitcoin price predictions were very positive at the beginning of the year, buoyed by the price explosion at the end of 2017. In January, a panel of cryptocurrency experts compiled by price comparison site Finder forecast that bitcoin would hit $33,000 by the end of this year. A new prediction released this week revised that figure to less than half that initial outlook at just $14,638.
Despite being more modest, if it is realised it would still represent almost a 100 per cent gain on bitcoin’s current price.
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