Published On: Tue, Jan 22nd, 2019

Bitcoin price news: Crypto FLOP as bitcoin plunges AGAIN – How much is Bitcoin worth now?


Bitcoin is facing another catastrophic fall, according to cryptocurrency experts, which could result in it exponentially rising once again. The internet based currency has been extremely turbulent, spiking and plummeting as people regularly gain and lose confidence. As such, Bitcoin’s value remains difficult to predict, and at the moment is still worth a lot compared to the pound. Experts are predicting Bitcoin could “explode” back into form.

Currently, Bitcoin is still worth thousands compared to Pound Sterling.

One Bitcoin is worth £2,758, despite a steady downtrend in value over the last month.

Over the past day however, Bitcoin has been slowly regaining its value and is poised for a surge in the near future.

Experts concur, and see the cryptocurrency gaining in the near future thanks to advancements in the US.

Samuel Leach, CEO and founder of cryptocurrency Yield Coin gave his analysis on what could happen to Bitcoin in 2019.

Talking to Cryptocurrency news site Smertereum, he said: “After having experienced a turbulent year in 2018 – one which saw its value collapse from circa $15,000 (£11,575) in January, to just above $3,000 (£2,315) at the time of writing – I do believe that Bitcoin will recover to a value of between $10,000 (£7,700) to 15,000 (£11,500).

“The inherent volatility of the cryptocurrency means that it is difficult to predict with any kind of finite accuracy.

“However, the outcome of upcoming events will go a significant way to determining the price.”

Mr Leach says a federally backed cryptocurrency in the US could go a long way to paving added confidence for Bitcoin.

He continued: “Intercontinental Exchange, the operator of the New York Stock Exchange is planning to launch Bakkt – a federally regulated market which will seamlessly and safely enable institutions and consumers to buy, store and sell crypto assets.

“Bakkt is supported by corporate leviathans like Microsoft, Starbucks and the Boston Consulting Group, and stands to bring levels of trust and transparency to the market currently unseen.

“Similarly, the crypto exchange ErisX recently raised $27.5m (£21 million) from Fidelity Investments and Nasdaq and plans to launch crypto derivatives in the top half of 2019.”

“Fidelity is one of the world’s largest asset managers, controlling resources worth about $2.5trn (£1.9 trillion).

Likewise, the Nasdaq operate the second largest stock exchange in the world, after the NYSE.

“The involvement of such significant financial institutions and ‘mature’ crypto trading products will lead to an appreciation in Bitcoin’s price.”

For 2019, it seems there could be a lot more confidence in cryptocurrency, which could impact much more than just bitcoin.



Source link

Videos

Most Popular Posts