Bitcoin Price Can Climb Far Above Clif High’s Estimate of $13,000: Factors & Trends
Clif High’s estimation that three ounces of gold would be equal to a Bitcoin in price by this time next year remains a bizarre proposition that is not impossible to achieve. In a way, a predicted Bitcoin price rise from a meager $1180 to more than $13,000 seems attractive and the technicality of how that would be the case defies common understanding of the law of demand and supply. It could be a repeat of the 1979/1980 scenario. This link to a historical event particularly fits in with the fact that High’s data sets have been proven accurate in other instances and his latest estimate show....
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After a small crash last week, and subsequent rebound early this week, speculators will be delighted to know that the price of bitcoin has once again climbed past $1000 USD at the Mt. Gox exchange. The news comes several days after the hover between $800-$900, leaving some very worried individuals wondering if we'd ever see bitcoins in the 4-digits again. Meanwhile at Bitstamp, the price is at about $956, with a climb past $1000 looking relatively promising in the next day, as a conservative estimate. The price jump will no doubt fuel more buys, bringing the price even higher. Will it....
Leading investment bank JPMorgan has changed its view on the estimate of bitcoin’s price on a long-term basis. The institution had estimated a long-term price of $146K back in November when bitcoin was over $60K. One of the most important reasons for this change has to do with the increased volatility the asset has faced in recent times.
JPMorgan Changes Long-Term Bitcoin Price Estimate
JPMorgan, one of the biggest financial institutions in the world, has drastically changed its opinion on the price that bitcoin will reach long term. While JPMorgan was bullish last year,....
This year’s crypto winter has created one of the most devastating effects in the crypto space in history. But there appears to be a resettling phase for the industry with the recent outplay of events. Moreover, following the special report of the CPI for July and other factors, the crypto space is seeing an encouraging relief and hope. The crypto space is making a positive impact as the performance of some cryptocurrencies takes a gradual up climb. Among the outstanding performing crypto assets is the meme coin, Shiba Inu (SHIB). Related Reading: Dogecoin Ready For 4th Straight Week....
Needham & Company, LLC, an investment banking and asset management firm, just bumped the estimated value of bitcoin from $655 to $848, due to faster than expected adoption and improving fundamentals, according to Money Morning. The new estimate, an analysis of the Bitcoin Investment Trust (BIT), follows Needham’s original bitcoin price prediction in March. Spencer Bogart, the author of the September 22 report, said the revised estimate is based on a faster-than-expected adoption and improving fundamentals. In addition, planned improvements to the bitcoin protocol also bodes well for....
As Bitcoin nears parity with gold, Google trends indicators are showing that this may only be the start of another major run-up in value on the way to higher highs. Bitcoin Uptick in Global Trends. Bitcoin performed amazingly well throughout 2016, increasing over 120% in value, reaching its all-time high market cap, breaking the $,1000 mark on the first day of 2017. Although the $1000 surge was expected by many, the continuous rise of Bitcoin continues to amaze the public at large. Driven by political and economic factors throughout the world, global interest in Bitcoin is once again....