The Bitcoin price has been seeing highs and lows like tides coming and going. The price that had once soared to almost $20,000 in December 2017 has been the highest price any cryptocurrency has grossed so far in the market.
However, Barclays experts claim that this was the end of it. Now, the price of the bitcoin may never reach the same heights.
This was testified when UK’s Barclays Bank created a model in order to deeply assess the rise and fall of Bitcoins value on the market. The end result of the experiment was that the Bitcoin price reached a high like a viral fever, but now that has now been cured.
One of the Barclays Economists, made a comment saying,
“We developed a theoretical model of an asset price with a pool of speculative investors and compared it with actual bitcoin price behavior to see what it might imply for the future dynamics.
The model has clear parallels with compartmental models of the spread of an infectious disease in epidemiology.”
When the economists extrapolate this model to gather further insights about the Bitcoin price, saying that it will be consistently taking a downfall. However, no one confirmed if it would fall below the value of $6,000.
Former COO for Skype Micheal Jackson has something rather different to say about the Bitcoin price future. The bull says that Bitcoin price won’t be stagnant for too long and probably will see a better future by the end of the year.
“The price has been driven by speculators and they suddenly got cold feet but there’s considerable effort going on behind the scenes, including new underlying technology that is powering faster transactions,”
Funstrat’s expert analyst Tom Lee hasin an interview with CNBC told that Bitcoin price market is finally going to take a deep breath after April 17, when Tax Day in the United States is over.
Read more : Fundstrat’s Tom Lee: Bitcoin Price To Rise in Late April Post Tax Day
With so much being talked about the Bitcoin price, it will be definitely a matter of excitement for crypto enthusiasts.
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