After enjoying record highs of 700% value hike, Bitcoin price dipped below the $4037 mark following the Chinese ban on ICO platforms.
Bitcoin Price was $1000 in January 2017 and it was predicted that Bitcoin price will cross $2000 by the end of 2017. Still three and a half months are left to end of 2017 and Bitcoin price has almost touched $5000.
This has led various critics in terming the price volatility of Bitcoin as a “Bubble”.
Fifteen years ago when economist Robert Shiller predicted the 21sy century’s housing bubble little did we know how it is going to become a hard hitting reality. The latest prediction of this Nobel laureate is about the Bitcoin bubble. The Yale professor believes that the Bitcoin bubble is a direct effect of deep throttled anxiety of digitalisation and computers. Bitcoin story is showing a path in times of great uncertainty when people are desperate looking out for a financial safe haven.
Phireon Global Partners co-founder Xavier Hawk holds the opinion that the current hike in Bitcoin price is here to stay. However control centres might divert money to the cryptocurrency sector for bringing down its price temporarily for enjoying the lower buy back price.
Bitcoin is slowly gaining the tag of being a mainstream currency form which can be put to use for transferring value and is also becoming increasingly popular as a new investible asset class. With limited known supply, Bitcoin is even giving a stiff competition to physical gold which was considered as the ultimate benchmark of financial security till now. Thus in spite of its price fall, people around the globe are hopeful of the Bitcoin phenomenon to again gain momentum in days to come. With on-point technical fundamentals, the price of Bitcoin can even cross the $10000 within the coming one year. It might seem to be an impossible figure but back at the beginning of 2017, nobody could have predicted the present price surge of this booming cryptocurrency.
Also Read: Bitcoin price could hit $100,000 in 10 years.
For those who wish to become a part of this glorious dream run, it is advisable to start investing in the cryptocurrency arena with small funds. Especially discount periods should never be missed.
Note: The investment amount should be equal to the amount which can be afforded to loose. After all it is a digital money and do posses some kinds of digital threats.
Baroness Mone along with her boyfriend Douglas Barrowman are developing a shopping mall and two apartment blocks in Dubai which can be purchased by shelling out equivalent quantum of Bitcoins.
Read: Luxury High Rise Apartments In Dubai To Be Sold In Exchange Of Bitcoin
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