Bitcoins and Cryptocurrency, in particular, has seen a lot of modifications in the last few months and hence it became next to impossible to judge as to what shall be the scenario of Bitcoins besides Cryptocurrencies in future.
Some have gone on to predict that Bitcoins, as well as Cryptocurrency market, is going to be stable while there are others who are not so sure about it. It is better that we look at what some of the experts from Market Analysis Team has to say.
Bitcoin Price Predictions
According to Tom Lee and Robert Sluymer from Fundstrat, (a) Market Analysis Firm believe that there is certainly going to be a change in this aspect. Lee supports his claim along with strong reasons as he says that space would provide ‘lucrative’ business opportunities. When there is a scenario like this then who would say a no to anything?
Most importantly banks might wish to make use of this space to their best of capabilities (could be). And with time Cryptocurrencies would be monitored on regular basis; they shall also have a Regulatory Climate giving them space to grow in a great manner.
Another of the reasons that made Lee make his statement is the fact that there is indeed cost of mining Bitcoins attached. He went on to state: Bitcoin has over the past held on to the cost of mining so it is obvious that there has to be some sort of back up to ensure that cost of mining is met.
As per Robert Sluymer, it was about time that there is a change in the way cryptos look. Latest news related to Bitcoins has seen that there can never be a lull for longer durations. Sluymer, however, has something else to add to his views on Bitcoins.
He says that if Bitcoin has to stay in this business then it is necessary for it to hold on to $7350 and $7000 respectively. Only when this level is maintained that Bitcoins may for the most part not see any dropping down.
Predictions of Bitcoins in the near future
Even John McAfee, Founder of McAfee Antivirus Software seems to have a positive outlook when he predicted that Bitcoin is indeed going to hit $1 million! It may also be noted that McAfee had predicted the previous year about Bitcoin hitting $7000 and indeed it has exceeded this prediction.
On the other hand, Kristjan Dekleva, a Swiss-based Financial Expert has something else to add to all the speculation surrounding Bitcoins. Dekleva says that there shall be another 10 years or so before things started falling in place (in other words there may be stability).
With such and many other predictions, it is better we list out as to what to expect from the fluctuating market out there: firstly, there may be price fluctuations (which tend to be normal), secondly Bitcoin has set itself in a manner that it turns out to be a standard for most of the crypto or rather virtual currencies; third, fixed supply of Bitcoins will be affecting its price mostly in future.
Cryptos have for the most part termed to be risky, yes, hence, it is best to invest only the amount which you can lose rather than investing complete savings of yours. The same goes for the rest of the investments.
Wait, understand, observe and think before you step into this world of cryptos is the order of the day.