Bitcoin Price Predictions 2017
Bitcoin continues to surprise the market and is going from strength to strength. The new digital currency has never been so much in demand before which is sending the price sky rocketing. Analyst Daniel Masters predicts that BTC will hit $4,000 by the end of the year. It is remarkable when you considered the predictions at the start of the year.
Many did not think it would get passed the $1,000 mark again and it has smashed that total. It will well on its way to top the $3,000 mark within the next few months and there are many things that are fueling the market.
With a market capital of over $40 billion no one can argue that BTC is no longer mainstream. The exciting news for people that own Bitcoin that it is just the start of the boom. If predictions come true it could become the most valuable asset in the world. With only 21 million coins going to be available once the Bitcoin Protocol kicks in the value should sore.
Below are a number of reason why we are experiencing a bull market in crypto currencies.
1. Japan wants to become a world leader in crypto currencies and they have recently passed a law enabling BTC to become a legal payment method. It has lead to a huge surge in demand across Asia and Japan is leading the way.
2. In the U.S. the Securities and Exchange Commission are presently considering approving an exchanged based on the blockchain. This venture is proposed by the Winklevoss Brothers who were involved in the start up of FaceBook and won a lawsuit against Mark Zuckerberg the founder.
3. Counties such as Russia are looking to regulate Bitcoin which if it goes ahead will give cryptocurrency a legitimized status.
The digital currency bitcoin is currently still near all-time highs, but bullish calls remain for the asset. One investor thinks it could almost double to $4,000 by the end of 2017. Bitcoin hit an all-time high in late January, reaching to $2791.70 according to CoinDesk data, recording a 180 […]
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