Bitcoin market value will reach $8 trillion in the future?
Even the most optimistic analysts cannot keep up with bitcoin prices.
The position of research company (StandpointResearch) founder and chief analyst RonnieMoas said, bitcoin market will reach $8 trillion in the future, he will be estimated in 2018 bitcoin price increased from $7500 to $11 thousand.
Moas on Sunday (November 5th) wrote in an e-mail: “encryption currency occupy more and more news headlines. More and more countries begin to accept it, and hinder the development of a few obstacles like Domino like down.”
Last week, bitcoin prices have surged to record highs. On Thursday, the Chicago Mercantile Exchange (CMEGroupinc.) announced plans to start providing bitcoin futures at the end of this year, the day of bitcoin prices above $7000 for the first time.
Bitcoin prices have soared this year more than 600 percentage points from the beginning of the bitcoin market value of $20 billion to grow to $120 billion. The rally has led analysts to be startled at.
The market interest in the currency and the encryption technology based block chain is increasingly strong, promoted as the first and largest digital asset price growth. There are more than 100 focus on bitcoin hedge fund.
Although regulators around the world are making the framework for this new field, but the enterprise is for institutions and investors to crush the skin.
Moas said, bitcoin prices will remain high. Because he is expected in 5 to 10 years, up to 5% of the world’s population will invest the assets, while only less than 0.5%, but because the computer code architecture, bitcoin circulation will be limited to 21 million coins, which will cause serious shortage.
But bitcoin prices prompted a growing number of bankers and analysts say this is a bubble about to burst.
Vice president of Societe Generale said: “today, bitcoin in my opinion is obviously in the bubble.” Credit Suisse CEO Thursday bitcoin questioned, JP Morgan chief executive Damon previously said bitcoin is fraud”.
Moas disagreed. Moas said: “they (the above investment bank) large investments in major listed banks in the United States, they are trading bitcoin threat. Bitcoin is not a fraud, nor the U.S. stock market bubble, it is more like a scam and bubble.”