Experts say 2017 bitcoin prices will continue to rise
Bitcoin price is always a hot topic. The recent bitcoin price roller coaster trend does not ban bitcoin investors excited. Some analysts believe that this trend will be positive throughout 2017.
Analysts said the price of bitcoin will double again
In the LombardiLetter editor Benjamin? Smith (BenjaminSmith), 2017, bitcoin prices will continue to rise, there are a lot of factors driving this trend. In fact, he believes that this year the price of bitcoin will repeat last year’s plot: bitcoin prices will double again.
“I think bitcoin prices this year to reach $2000, unless the exchange transactions or face any strict regulatory rules.
The current positive factors to promote the development of bitcoin is too much.
These positive factors based on a good foundation for the development of “”. First of all, he referred to the current Chinese lingering economic problems. In the past 4 years, the RMB against the U.S. dollar devaluation of nearly 14%. At present there is no evidence that the devaluation of the RMB will stop. Because China is bitcoin biggest buyer’s market, the economic situation is conducive to increasing demand for bitcoin.
Which factors China devaluation phenomenon domestic capital outflows and currency will only become more diversified. In fact, there are indications that the RMB devaluation trend will continue.
China is no longer the only big party
There is a main problem in his view. All his analysis is to China control “bitcoin trading volume 85%” as the premise, but that is not the case. According to Coinhills data show that since the end of the China regulators exchange “zero fee era”, the domestic bitcoin trading market share has shrunk to about 40%, but Chinese is still the market leader.
The yen currently occupy the market share of $1/3, up to 25%.
Smith pointed out that the volatility of the bitcoin market decline:
“Although the money supply has a strict control of the output has bitcoin is 16 million, but the transaction speed can bring more liquid, played the role of price stability.”
Several coins the fate of ETF will be announced in March 11th this year. There is a significant positive impact on the bitcoin ETF bitcoin price; around bitcoin blockchain business plan will also help this digital currency to the mainstream.
Isolation verification (SegWit) deployment can effectively enhance the transaction processing speed, greatly increase transaction volume. Smith said that the activation of isolation verification will also have a positive impact on bitcoin prices. However, from the current isolation validation support rate is still far from reaching the activation threshold, so even if this year this update cannot be added to also be not at all surprising.
Other positive factors
Based on multiple factors, I also agree with this year for bitcoin is significant. Waste bills policy in India and rising bitcoin trading volume will contribute to the development of the digital currency in 2017; in recent months, bitcoin demand in Nigeria, Venezuela and Japan are also increasing; the upcoming New York stock market crisis will make many investors turn to bitcoin hedge. A similar situation will appear later this year.
Finally I want to say that in 2017 the price of bitcoin $2000 and not tell some fantastic tales. A conservative estimate, $1500 is hiding. Once the forecast bitcoin ETF and New York stock market crash come true, with $2000 in the pricing of the “digital gold” is too low.