Daily Management Review

Bitcoin may grow to $ 3 thousand by the end of the year


03/08/2017


Popularity of virtual assets is growing, and rate of digital currency Bitcoin can climb to historic highs by the end of the year. Analysts predict that price of Bitcoin can reach $ 3 thousand before the end of the year.



The crypto currency is rapidly taking the leading positions in the market, and growing in price above forecasts. In early March its price first exceeded one troy ounce of gold in the world market, and analysts say that this is only the beginning. According to their forecasts, Bitcoin’s rate can grow to an unprecedented level of $ 3 thousand, reports CNBC.

At the same time, CEO of Chinese BTCC stock exchange Bobby Lee is confident that price of the first crypto currency will range from $ 5,000 to $ 11,000 by 2020.

Analysts agree that in the modern world crypto-currency is more valuable than metal, which has been used as means of payment for many years. 

This scale will increase by nearly 150% of the current Bitcoin price at the time of publication and more than 130% more compared to the price of last week, according to CoinDesk.

By the way, many experts believe that soon Bitcoin’s rate may become a certain guide for investors, just like gold used to be some time ago.

For example, Adam Davis, a technology consultant to large financial institutions at Altus Consulting, predicts that Bitcoin can go even higher.

"As for the price this year, I think it will grow to $ 3 thousand." Everything will depend on how much Bitcoin 's popularity will grow, and then we will see rapid growth, "Adam Davis said in an interview with CNBC.

This view is shared by Blockchain’s CEO Peter Smith, who believes that Bitcoin’s price will gain an unprecedented volume and may quite realistically amount to $ 3 thousand by the end of the year. According to his estimates, this task is quite feasible.

Head of Deutsche Bank John Cryan in his forecast went further. In his opinion, the crypto currency will replace convenient banknotes, just as it was with gold and paper.

Analysts in general note that the unstable global political situation, elections in Europe and the UK's withdrawal from the EU became a trigger to the rapid growth of Bitcoin. The Indian monetary reform and the Chinese authorities’ efforts also played an important role. These factors pushed the market to alternative options for saving money. Volatility in other currencies and uncertainty in the global economy only strengthened Bitcoin’s position on the market.

source: coindesk.com






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