In 2018 Bitcoin is indeed broken, but what will happen to this Cryptocurrency in 2019 will shock you. Bitcoin is predicted to reach $ 23500 in 2019. How can it be?
A few days ago in the Forbes article by Charles Bovaird, it was mentioned that Bitcoin could experience further increases after reaching above $ 4,000, according to data and sentiment analysis. Even NASDAQ, the second largest stock exchange in the world has also promised to launch Bitcoin futures in the first half of 2019. So it's very likely that Bitcoin will reach its peak of glory back in 2019.
Barry Ritholtz said in one Bloomberg column "Yes Fear & Trauma must still be there. Moreover, 2018 Bitcoin was completely destroyed to pieces. And a lot of people left the Cryptocurrency Market.
But apart from that all Bitcoin enthusiasts also remain high. And Analysts predict that too.
Now the Ohio state government has announced that they will receive tax payments in BTC where the government has partnered with Bitpay to make this happen so that bitcoin can be converted into dollars on behalf of the tax office. This is only a glimpse of the increasingly high adoption rate.
BlockTower Capital, the main force in the world of crypto betting on Bitcoin a year ago recently made a bullish statement on the price of Bitcoin. Michael Bucella, a partner at BlockTower said that recent dry spells that run in crypto space and volatility might be the current attractive scenario but the danger cycle might end as soon as institutional players expressed their strong interest in buying cryptocurrency.
WHAT IS BITCOIN
Bitcoin is generated from a process called mining. Through this process, the computer will solve a complicated mathematical problem, and receive rewards in the form of cryptocurrency. Meanwhile, the power used for the mathematical formulation process is called 'hash power', predicted to grow by 350 percent in 2019.
"We believe that the current growth of hash power can push the price of bitcoin up to 36,000 US dollars by the end of 2019, with an estimate of 20,000 US dollars to 64,000 US dollars," Scince Reserch Fudstrat Sam Doctor's Head of Data was quoted on CNBC Friday (11 / 5/2018). On Thursday (05/10/2018), Bitcoin traded at the level of 9,300 US dollars.
While last year, cryptocurrency experienced a surge of 1000 US dollars to 19,000 US dollars. The concern that arises regarding the unclear regulation in cryptocurrency has made the value of this currency drop this year. Doctor said, the economic value of the mining process in bitcoin is one of the things that has again raised the price of cryptocurrency lately.
According to him, bitcoin miners or bitcoin miners have a tendency to hold bitcoins when prices plummet, and will sell again when prices begin to crawl up to make a profit. "The main factor supporting sales is bitcoin mining, then the other is inter-investor transactions," Doctor said. For information, mining activities depend on several factors such as electricity, equipment for cooling, and hardware called rigs.
A few days ago in the Forbes article by Charles Bovaird, it was mentioned that Bitcoin could experience further increases after reaching above $ 4,000, according to data and sentiment analysis. Even NASDAQ, the second largest stock exchange in the world has also promised to launch Bitcoin futures in the first half of 2019. So it's very likely that Bitcoin will reach its peak of glory back in 2019.
Barry Ritholtz said in one Bloomberg column "Yes Fear & Trauma must still be there. Moreover, 2018 Bitcoin was completely destroyed to pieces. And a lot of people left the Cryptocurrency Market.
But apart from that all Bitcoin enthusiasts also remain high. And Analysts predict that too.
Now the Ohio state government has announced that they will receive tax payments in BTC where the government has partnered with Bitpay to make this happen so that bitcoin can be converted into dollars on behalf of the tax office. This is only a glimpse of the increasingly high adoption rate.
BlockTower Capital, the main force in the world of crypto betting on Bitcoin a year ago recently made a bullish statement on the price of Bitcoin. Michael Bucella, a partner at BlockTower said that recent dry spells that run in crypto space and volatility might be the current attractive scenario but the danger cycle might end as soon as institutional players expressed their strong interest in buying cryptocurrency.
WHAT IS BITCOIN
Bitcoin is generated from a process called mining. Through this process, the computer will solve a complicated mathematical problem, and receive rewards in the form of cryptocurrency. Meanwhile, the power used for the mathematical formulation process is called 'hash power', predicted to grow by 350 percent in 2019.
"We believe that the current growth of hash power can push the price of bitcoin up to 36,000 US dollars by the end of 2019, with an estimate of 20,000 US dollars to 64,000 US dollars," Scince Reserch Fudstrat Sam Doctor's Head of Data was quoted on CNBC Friday (11 / 5/2018). On Thursday (05/10/2018), Bitcoin traded at the level of 9,300 US dollars.
While last year, cryptocurrency experienced a surge of 1000 US dollars to 19,000 US dollars. The concern that arises regarding the unclear regulation in cryptocurrency has made the value of this currency drop this year. Doctor said, the economic value of the mining process in bitcoin is one of the things that has again raised the price of cryptocurrency lately.
According to him, bitcoin miners or bitcoin miners have a tendency to hold bitcoins when prices plummet, and will sell again when prices begin to crawl up to make a profit. "The main factor supporting sales is bitcoin mining, then the other is inter-investor transactions," Doctor said. For information, mining activities depend on several factors such as electricity, equipment for cooling, and hardware called rigs.
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