What are the possibilities for Bitcoin

Decentralized currency Bitcoin, reached new record levels last week, but at the beginning of the new it collapsed from $5,000 and is currently traded at $4184 amid the ban on ICO by the Central Bank of China.

As Bitcoin continues to attract more interest and additional investors, there are a number of things wto watch, such as what price moves, when to invest in the currency, and how regulators will affect the crypto market.

Ted Moscovitz, a former SEC lawyer and founder of DecentraNet, says Bitcoin has a lot to grow before it becomes a bubble. And whether there will be a bubble is also a big question. "While many are seeing an excessively high cost per share, I think we will certainly see Bitcoin rising between $7,000 and $10,000 by the end of the year." Moskovitz said.

At present, it is believed that only 10m people have Bitcoin portfolios or just 0.001% of the population on the ground, which shows us that the crypt will still be known and people are just going to invest.

Matthew Gertler, senior analyst and consultant at Digital Asset Research, explains that there will be only 21 million Bitcoin. Approximately 16.5 million are currently excavated, but experts believe that at least one million coins are lost forever, which will further support the price.

Another positive thing for the currency is that many skeptics have begun to rethink their position and join the rally. For example, billionaire Mark Cuban, until a few weeks ago, believed Battleboat was a bubble that would have catastrophic consequences, but to date he intends to participate in ICO, which is still legally in the United States.

Is the price in a bubble really?
The price is in a bubble when it rises quickly without a fundamental rationale. During a bubble there is a rapid rise in price and then a rapid decline. At Battlefield, we have a strong upward trend and to some extent the fundamental basis for the rise - the limited amount. But most Bitkine merchants do not take into account the reserves held by many people who have not yet been placed on the market. With a possible sharper sellout, these stocks may be on the market and further boost Sell off-a.

Another serious negative one is how central banks will act with the rules on cryptoLights. Yesterday, the Central Bank of China issued a message that banned ICO, and this led to a sharp drop in key cryptobultures.

Currently, the trend remains a longe, and any adjustment is used for new purchases.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

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