This is what the CEO of Bitcoin says has skyrocketed by 700%
The CEO of a global investment manager confirmed that Bitcoin will skyrocket to $250,000, according to a report by
the business publication.
Van Eyck additionally asserts that at the six-figure value,
Investors see it as a complement to gold. this is often the short version. the availability of bitcoin is limited; The show is visible. it's terribly tough, and nearly not possible,
to vary it. Bitcoin can move to half the value of gold, or $250,000 for Bitcoin, however that would take decades. It's onerous to place a timeframe for that." Bitcoin is commerce at $29,226 at the time of writing. Per the report, Eyck says institutional investors and governments can drive the worth of Bitcoin higher. “Bitcoin is enjoying additional value appreciation because it matures. Its institutional adoption is increasing once a year. it's not solely institutional investors, however additionally governments round the world that look thereto as a useful plus.” In the case of employing a store important in Bitcoin, the chief executive officer of the $80.4 billion plus manager says that Bitcoin is already establishing itself as a threat to gold's dominance. Experts believe that Bitcoin could also be an honest contender to gold within the long haul
Gold was the first plus, however typically folks would purchase silver or alternative precious metals.
folks trying to find a store important can look to gold, however additionally bitcoin.
we have a tendency to area unit within the middle stages of this adoption cycle, and there's additional upper side.”
The digital currency Bitcoin has skyrocketed by 700% in value over the past year, but that might not even be the most shocking part of its rise. A single coin was worth $1,000 at the start of this year, but now costs as much as $7,300—and that’s despite some dire news out of China in recent weeks. Many experts have predicted that this kind of trend can’t continue forever, but they’re also quick to point out that cryptocurrencies are here to stay and will likely affect our daily lives in ways we can’t even imagine yet.
The Basics Of What Is A Cryptocurrency
In short, a cryptocurrency is a digital currency that can be used for payments. Like Bitcoin, Ethereum is an open source decentralized platform for applications that work exactly as they were programmed without any chance of fraud, censorship, or third party interference. On Tuesday, it briefly lost $1 in value after South Korea's largest cryptocurrency exchange said it would ban trading in anonymous cryptocurrencies such as Ether on its virtual currency exchange from January 3.
Are Cryptocurrencies Safe To Invest In?
Cryptocurrencies have been on a rise for years, since their inception. According to CoinMarketCap’s website, bitcoin has skyrocketed by 700% in just about ten months; at its peak price of $8500 in December 2017. And, even though cryptocurrencies are notoriously volatile and unpredictable, it seems as if investors are excited to enter 2018 with one foot in crypto-assets and other foot out. In fact, over 800 virtual currencies entered 2017 as compared to only around 100 coins entering 2014.
How Do We Control Our Money?
Cryptocurrencies have made their mark on financial services.
They offer a secure method for transferring assets, but with inherent risks that are not posed in other financial service channels.
One example is Ethereum coin, which has skyrocketed by 700% in 2017, but just hit its lowest point since October 2017 on December 15th.
It’s important to note these factors before trading, as there are many factors that play into how successful or unsuccessful you will be.
Could Bitcoin Be The Future Of Global Currency?
We’ve seen widespread and rampant adoption of cryptocurrency like never before. In fact, at one point in time—on Jan. 4, 2018—the entire crypto market was worth a whopping $831 billion. The number has more than doubled since then, hitting a new high of nearly $2 trillion as I write these words.
Should You Invest in Cryptocurrency Now?
To really understand what’s going on with Bitcoin and its price, you have to go back to 2009 when Satoshi Nakamoto launched Bitcoin into existence. That was a time when fewer than ten million people used cryptocurrency and computing power was slow.Fast-forward eight years to 2017 and the value of one bitcoin has skyrocketed by 700%, much to the delight of anyone who had bought it at less than $1.