Bitcoin Prices on the Rise.The price of Bitcoin has been on the rise lately, and it doesn’t seem to be slowing down. In the last month, the price of Bitcoin has increased by over 20%. This is good news for those who have invested in Bitcoin, but what does it mean for the future of the currency?
There are a few factors that could be driving the price of Bitcoin up. First, there is the recent news that the Chinese government is cracking down on Bitcoin exchanges. This has caused some people to worry that the Chinese government will try to ban Bitcoin altogether. However, it’s worth noting that the Chinese government has crackdowns on Bitcoin before, and the price of Bitcoin always seems to rebound afterward.
Another factor that could be driving up the price of Bitcoin is the increasing demand for the currency. As more and more people learn about Bitcoin and its benefits, they are more likely to want to invest in it. Additionally, as more businesses start to accept Bitcoin as a form of payment, the demand for the currency will only continue to grow.
So, what does the future hold for Bitcoin? It’s hard to say for sure, but the recent price increases suggest that the currency is here to stay. If the demand for Bitcoin continues to grow, then the price is likely to continue to rise. However, if the Chinese government does crack down on Bitcoin exchanges and tries to ban the currency, then the price could drop sharply. Only time will tell what the future holds for Bitcoin, but for now, it seems to be on the up and up.
Bitcoin Price History
Bitcoin is a cryptocurrency, a form of electronic cash. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Bitcoin Price Forecasts
Bitcoin prices have been on a rollercoaster ride over the past few months, and things are showing no signs of slowing down. So, what do the experts think will happen to the price of Bitcoin in the near future? Here are three Bitcoin price forecasts from respected industry analysts:
1. PlanB’s Bitcoin Stock-to-Flow Model
PlanB, an analyst who created the popular Bitcoin stock-to-flow model, believes that the Bitcoin price could reach as high as $100,000 per coin by December 2021.
2. Fundstrat’s Tom Lee
Tom Lee, the head of research at Fundstrat Global Advisors, has a long-term Bitcoin price target of $25,000 per coin. However, he believes that the price could reach as high as $40,000 in the near term.
3. Pantera Capital’s Dan Morehead
Dan Morehead, the CEO of Pantera Capital, one of the largest cryptocurrency hedge funds, believes that the Bitcoin price could reach $42,000 by the end of 2019.
These are just a few of the many respected industry analysts who have made Bitcoin price predictions for the near future. So, what do you think? Will Bitcoin prices continue to rise? Or is a correction on the horizon?
Bitcoin Price Analysis
The bitcoin price has been on a rollercoaster ride over the past few months. After hitting an all-time high of over $19,000 in December, the price of bitcoin fell to below $11,000 in just a matter of weeks. Since then, the price has been on a gradual rebound and is currently hovering around the $13,000 mark.
There are a number of factors that could be driving the current bitcoin price rally. Firstly, there is the ongoing debate around the future of bitcoin and other cryptocurrencies in China. The Chinese government had initially banned all cryptocurrency trading in the country, but it now appears that they are softening their stance. This has led to a lot of investors and traders from China moving their money into bitcoin and other cryptocurrencies in an attempt to avoid the Chinese government’s crackdown.
Another factor that could be driving the bitcoin price higher is the recent launch of the highly anticipated bitcoin futures contracts on the CBOE and CME exchanges. The launch of these futures contracts has given institutional investors a much easier way to invest in bitcoin, and this is helping to drive up the price.
Finally, there is the simple fact that the price of bitcoin has been on a steady upward trend over the past few years, and it is now reaching a point where it is starting to attract mainstream attention. As more and more people become aware of bitcoin and its potential, the price is likely to continue to rise.
All in all, the current bitcoin price rally appears to be driven by a combination of factors. The Chinese government’s changing stance on cryptocurrency trading, the launch of bitcoin futures contracts, and the general upward trend of the bitcoin price all appear to be playing a role. It remains to be seen how long this rally will last, but for now, it appears that the bitcoin price is on the up.