Apple and Bank of russia bitcoin to the latest London startup. In particular fintech, blockchain, artificial intelligence, driverless cars, virtual reality and the sharing economy get me out of bed in the morning.
I’m always trying to illustrate stories with pictures of dogs. I was named technology journalist of the year at the UK Tech Awards 2016. With talk of bitcoin being a bubble, but an astonishing rise in price that appears to show no signs of abating, could the cryptocurrency be set for even more eye-watering increases? 60,000 – before it crashes, that is.
The forecast is aimed at provoking conversation and reaching toward the furthest outlier scenarios which might bring shock and surprise in the year ahead. 60,000 price, spurred by futures contracts and more traditional investors piling in, would see its market value rocketing past one trillion, and many a bitcoin billionaire created. 1,000, spurred by China and Russia sidelining it for their own cryptocurrencies. Before long, however, the Bitcoin phenomenon finds the rug torn out from under it as Russia and China move deftly to sideline and even prohibit non-sanctioned cryptocurrencies domestically. Today’s Stock Market News and Analysis – Nasdaq. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more.
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The position of Bitcoin will face some threats, though. It is always refreshing to see some new Bitcoin price predictions. The opinions are pretty divided on this front right now. According to Saxo Bank, the Bitcoin bull run will continue for quite some time. 60,000 per BTC is not entirely out of the question.
However, one shouldn’t underestimate the developments in Russia and China. Both nations may collude to create a powerful competitor. It would triple the current market cap and valuation of all bitcoins in circulations. Right now, such a move seems highly likely, according to Saxo Bank. Investors are getting used to tying up money in cryptocurrencies rather than traditional vehicles. The launch of Bitcoin futures will also play a big role in this regard.
Everyone knows what goes up in value will eventually come down, though. If and when that will happen for the Bitcoin price, remains unknown. No one can deny there is no real competition right now. Other altcoins are flourishing, but Bitcoin is still the gateway cryptocurrency for most users.