Bitcoin’s “cruise through” $5,000 announced
Main page News, Cryptocurrency, Bitcoin
Hot topic
9 August
3430 3k

Bitcoin (BTC.EXANTE) enthusiasts and investors are expressing their confidence in Bitcoin and its ability to scale. Bitcoin price will “cruise through” $5,000 in the nearest future, financial analyst Max Keiser predicted.

Indeed, the track-record of this crypto-currency is really fascinating: it has just hit a new high of more than $3,300, after having jumped 50% up in one month, 200% in six months and 30,000% in five years.

And the bull run for BTC continues on after Bitcoin scaling solution Segregated Witness (SegWit), which helps to separate transaction signatures freeing up space for more transactions, has been finally launched.

The global adoption of this crypto-currency by general consumers, traders, institutional investors, large-scale conglomerates and merchants that has significantly increased throughout 2017, only helped to speed up that process.

We now see some of the largest investment institutions in the world including Fidelity Investments ($2.13 tln in assets), announcing they have invested in Bitcoin and Ethereum (ETC/USD.CRC).

"We have built proofs of concepts that accept Bitcoin micro-transactions. We set up small Bitcoin and Ethereum mining operations, just done in the spirit of learning. But I am still a believer – and it's no accident that I'm one of the few standing before you today from a large financial services firm that hasn't given up on digital currencies,” said Abigail Johnson, Fidelity CEO.

At the same time Bitcoin is becoming more volatile. According to Bloomberg data, its 30-day volatility index is at its highest since early 2015.

Nevertheless the majority of the market players tend to believe that Bitcoin price will likely increase in the upcoming months. The daily trading volume of the whole cryptocurrency market has already surpassed $5.5 bln. And Bitcoin and Ethereum account for nearly $3 bln out of it.

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