CRYPTOCURRENCIES LATES NEWS: John McAfee is still waiting for a million for bitcoin
After a significant correction last week, bitcoin returned to positions around $ 15,000, and on Wednesday its price returned even to $ 16,500.
Experts, including the pioneer of the anti-virus industry John McAfee and founder of hedge funds Ari Paul, expressed optimism about the short and medium-term trend of bitcoin growth, given its latest dynamics and a general increase in value during 2017.
"As I predicted, the price of bitcoin fell and quickly rises after the Catholic Christmas. This is still the best long-term crypto-investment, and I firmly adhere to my forecast: $ 1 million by the end of 2020, " John McAfee said.
Historically, bitcoin shows a tendency to recover soon after a major correction. Consequently, the rapid restoration of bitcoin after the Catholic Christmas was expected by most investors in the cryptocurrency market.
However, McAfee's forecast of $ 1 million for bitcoins by 2020 deserves attention, as other investors such as Overstock CEO Patrick Bern and investor Mike Novograts assume a similar figure.
Analysts believe that as soon as the market capitalization of bitcoin exceeds a trillion dollar mark, it will be able to surpass the market valuation of traditional assets such as gold and, ultimately, to penetrate the global offshore banking market.
"We have all these currencies with fluctuations in prices since the times of Bretton Woods. Perhaps the dollar remained the benchmark of value, but the rest fell by 95% compared to what cannot be controlled - gold and bitcoin. So his [bitcoin] price can reach $ 1 million, "says Bern.
Investors in the crypto-currency market expect a lot of factors and events that will lead to a sharp rise in the price of bitcoin. For example, decisions on submitted applications for 8 exchange investment funds (ETF) on the New York Stock Exchange (NYSE) and OCSE.
Given the success of bitcoin futures on OWER and CME, experts say that the probability of approval by the Securities and Exchange Commission (SEC) of at least two ETFs is very high.
Another important factor that can significantly increase the cost of bitcoin is considered to be a solution to the scaling problem in order to eliminate the overload in the Bitcoin network.
