#Bitcoin price news: How #bitcoin could reach $50,000 SOONER than 2020 I Need Your Help to make my Work Possible while still fulfilling my duty to provide for my family. (THANK YOU!!):
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#BITCOIN reached an all-time high in December 2017, hitting $19,783.06 - but that could have been a drop in the ocean as many crypto analysts predict #BTC could reach $50,000 by 2021. Here is why.
On December 17, 2017, Bitcoin reached an all-time high of $19,783.06 (£16,131.50) before plummeting to $13,800 (£11,252.80) on December 22. At the time of writing the cryptocurrency was priced at $10,200.07 (£8,317.34) - but soon it could see drastic highs according to #cryptocurrency experts. Currently, the price of bitcoin is hovering in the region above the mid-$10,000 (£8,154.20) level.
Now, the top-ranked crypto has appeared range bound between $9,000 and $12,000 (£7,338.78 and £9,785.04).
However, an all-time high of $50,000 (£40,771.00) is not inconceivable according to cryptocurrency experts.
Joseph Denne, CEO and founder of Edge Network told Express.co.uk: “It is more than likely that we will see a new all time high in BTC value, and that this will occur within the next 12-24 months.
“The underlying technology is proven, and a fundamentally sound financial mechanism; the hash rate (the speed at which a compute is completing an operation in the bitcoin code) is at an all-time high; for the most part we have regulatory clarity (certainly in the UK); and the broader ecosystem is growing strongly, with new technologies and interfaces coming to market all of the time.
“It’s also worth pointing out that only a small segment of the population currently hold Bitcoin.
“This is growing steadily, and more accessible methods of access are becoming available every day.
“The more people that hold bitcoin, the greater the value. And there’s a lot of room for growth.”
But what needs to happen for BTC to reach $50,000 (£40,771.00)?
It is a mixture of needing new investors, the global climate and the implementation of cryptocurrency in mainstream finance.
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