Well, the price of the popular cryptocurrency, of course, Bitcoin has seen a massive growth this year. As recently, we saw that how the price of Bitcoin jumped to $19,000, now according to the latest reports recently a well-known analyst has confirmed that the value of Bitcoin will reach between $300,000 and $400,000.
Bitcoin Will Hit $300,000 To $400,000
It is not by chance that so many people have been talking about the popular cryptocurrency, of course, Bitcoin. The cryptocurrency Bitcoin broke all historic records in 2017, and many people believe that it will not only continue this exponential rise, as one day it may replace the currency we have.
After the bitcoin broke the $10,000 barrier, a debate took place behind the scenes of Techviral about when to report future cryptocurrency records. It seemed reasonable to comment when it was over $16,000 – and that has already happened. The price of the popular cryptocurrency bitcoin has risen 1500% since January.
It’s a case to say that it’s crazy! Although many consider that the Bitcoin currency is nothing more than a “bubble scheme”, the truth is that it is already worth more than $ 19,000 and the record was reached on Saturday. In just 24 hours the value of the cryptocurrency grew by 10%.
This popular crypto-currency, Bitcoin more than tripled in three months; in August, a bitcoin was worth $3,000. Since the beginning of 2017, when the currency was quoted at less than a thousand dollars, the accumulated valuation is about 900%.
How much will the appreciation of the Bitcoin electronic currency reach? As it can be seen from the chart below, taken from the CoinBase website, the currency has grown significantly in recent days and this Saturday has hit a new record, more than $19,000. Compared to last month this currency appreciated more than 146%.
What is Bitcoin?
We can refer in generic terms that it is a virtual currency created in 2009, based on the peer-to-peer (P2P) system. P2P is a system that does not provide for centralized authority to control currency or transactions, as with other currencies (for example, the INR. is controlled by the RBI). Instead, money creation and transfers are based on an open-source network in encrypted protocols that form the basis of Bitcoin’s security and freedom, making transactions instantaneous among users.
The invention of a mysterious computer guru, who referred to his pseudonym Satoshi Nakamoto, this coin is created by means of a very complex mathematical formula.
While earlier, analysts believed that the well-known and most used currency Bitcoin would be able to finish the year worth more than 10,000 dollars, but the truth is that the value has almost doubled.
Now, with the trading of Bitcoin futures in both the CBOE and the CME, Bitcoin is available to the biggest players with big pockets, which includes short sellers. It will be interesting to see what will happen to the cryptocurrency when the first bassist attacks.
However, Ronnie Moas, the founder of Standpoint Research, has predicted that Bitcoin will reach between $300,000 and $400,000. He advocates investing in the cryptocurrency in every dive.
On the other hand, UBS and ING have warned once again that Bitcoin owners will lose their money. However, these calls from the big banks will have to be taken with a pinch of salt because they have been warning of a bubble since the beginning of the year and the digital currency has risen about 19 times from there.
Interestingly, the French Finance Minister wants to talk about Bitcoin at the next G20 summit in April 2018. It seems that a lot is happening in the cryptocurrency universe. Hence, it clearly seems that interesting times are ahead.
So, what do you think about this? Simply share your views and thoughts in the comment section below.