Dec 20, · Popular on-chain analyst Willy Woo says Bitcoin ascending to the seven-figure mark this bull cycle is now within the realm of possibility. In a new episode of the What Bitcoin Did podcast, Woo reveals his broad range of Bitcoin price targets for the current bull cycle. Dec 13, · Estimates vary wildly as to where the price of Bitcoin will land. Some say that it may reach $60, by next year, others believe it might even break $, But Finixio’s own Adam Grunwerg warns. 18 hours ago · JPMorgan says bitcoin could rise to $, long term as it competes with gold Published Tue, Jan 5 AM EST Updated Tue, Jan 5 PM EST Ryan Browne @Ryan_Browne_.
Bitcoin will rise moreWill Bitcoin Continue to Rise? Crypto Experts Finixio Make Their Predictions
It was not backed by any assets or by a government and lack of mainstream support was adding to its risk. In , the rise of Bitcoin is driven by institutional investment. Recently, Square and Paypal have added crypto currency to their offering. Mainstream financial media is paying attention and reporting on crypto on the daily. The involvement of such large players in the Crypto world gives it the legitimacy it needs. We are likely seeing the beginning of the entry of digital currency in the mainstream and in the following years, this market will harden into its proper mold.
Why are institutional investors starting to pay so much attention to Bitcoin? The answer lies in our Covid stricken world. Countries have had to increase debt in order to support the financial burden of closed economies and reduced output. This resulted in inflation which led investors to seek to hedge against it as the purchasing power of the dollar and other fiat currencies started rapidly decreasing.
Another important factor that is likely to continue driving up the price of Bitcoin is its supply problem. There is only a limited amount of Bitcoin available. Although Bitcoin can be mined, there are very few who are actually doing that and all other investors depend on the supply.
Glassnode reports that miner wallets such as Lubian. As this trend continues, BTC prices will continue to rise but the supply problem will have another notable consequence that Finnixio advises inventors to pay attention to. VIDEO Related Tags. Semiconductors and value stocks: Traders pick top trends for Keris Lahiff 4 hours ago. Keris Lahiff.
Stephanie Landsman. The bank's CEO, Jamie Dimon, once called the cryptocurrency a "fraud" and said bitcoin mania is reminiscent of the tulip bulb craze in the 17th century. Dimon is, however, more supportive of the underlying blockchain technology that served as the foundation for digital currencies like bitcoin. JPMorgan has invested heavily in the space, creating its own digital currency called JPM Coin and establishing a new unit devoted to blockchain.
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