The Price of Bitcoin will ‘Undoubtedly’ Increase this Coming Years According to Bitcoin Experts.May 7, 2018
Bitcoin, one of the most popular type or virtual currencies is predicted to increase its value in the coming months.
Bitcoin price sunk in January just weeks after it reached the massive price of $20,000. However, Mati Greenspan a professional market analyst insisted the virtual currencies will surely rally pasts their all-time high.
Mati Greenspan, a Bitcoin expert said the price of virtual coin is possible to reach new highs someday; adding that the decline happened months ago is part of the usual retracement after a grand high.
This retracement is a short-term change in the way of a stock value which goes opposed the existing trend. Greenspan said to Express.co.uk, “I don’t know what is going to happen in the near future. I’m really not a fortune teller or anything like that.
He also believes that over the fear of law or regulation which decline from the $20,000 was just a usual retracement. Each time the price of Bitcoin moves up, we should see some kind of retracement.
“It’s the same thing that when it jumped up from eight cents to $3.50 then it had a retracement back to a dollar.
“That’s a very normal thing after that kind of leap. So if we look at it now I believe we are about five or six percent up over the price a year ago.”
The price of Bitcoin was at USD 9, 396.29 on Thursday, this is according to renowned and reliable crypto platform CoinDesk.
On the other hand, the crypto has faced lots of complaints and criticism, with previous chief executive officer of PayPal, Bill Harries stating that this virtual coin is indeed the greatest fraud in history.
He also believes there’s no store price in this virtual money; it shouldn’t be accepted as a type of payment. He also stated that this crypto doesn’t have intrinsic value.
Mr. Harris without any hesitation stated that Bitcoin in general is a fraud. It is a scam. Below is the full statement of Mr. Harris, Chief Executive Officer of one of the most renowned payment mode in the world.
“In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen.
“In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices.
“And some cryptocurrencies are pure frauds.”