Bitcoin is the New Gold, a Better Safe Haven Asset: Goldman Sachs
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Follow us on Twitter or join our Telegram. It has been a tough start to the h not zero bitcoin news for cryptocurrency investors. Some experts believe that the crypto bubble has popped while others believe that this is just a short correction h not zero bitcoin news the rally continues to new highs. In this article, we will explore and compare recent bitcoin price forecasts that were made by leading analysts and investors to get a better idea of what Wall Street is thinking about where the crypto asset market will go next.
It seems like h not zero bitcoin news everyone wants to hold bitcoin as an investment but everyone has an opinion about it. Recent price predictions have ranged from bitcoin becoming worthless to exceeding the USD 90, mark within the next two years.
He cites factors such as overtrading, easy monetary conditions, lack of regulation, increasing leverage, swindles, and overvaluation as key reasons why bitcoin is a bubble. He also does not consider bitcoin a currency as its transaction fees and volatility are too high.
Additionally, the high energy consumption of running the Bitcoin network makes it unsustainable in the long-run. Hence, he views bitcoin as a nothing but a bubble. Jon Matonis, economist and co-founder of the Bitcoin Foundation, disagrees and said, in an interview with Business Insider, that he remains confident that cryptocurrencies are not in bubble territory:.
The bubble is the insane bond markets and the fake equity markets that are propped up by the central banks. Those are the bubbles. He told Bloomberg that he believes that the value of one bitcoin could reach USD 30, by the end of He thinks that as regulatory bodies get more involved in the cryptocurrency space the asset class become more legitimized.
This, in turn, will attract more investors, especially from Wall Street, who will push the price of bitcoin and other cryptocurrencies to h not zero bitcoin news highs. His collected data include the cost of mining, detailed trading trends data and technical analysis.
Based on this data, Lee believes that bitcoin could hit USD 91, within the next two years. The main focus of disagreement lies in whether bitcoin actually has intrinsic value or whether its value is purely driven by hype. While the majority of financial experts agree that bitcoin - and cryptocurrencies in general - will likely be around for a little longer, some believe they will eventually become worthless while others believe that big things are still to come for crypto assets in the future.
However, to truly evaluate bitcoin, you need to look beyond established h not zero bitcoin news markets and understand that cryptocurrencies are an h not zero bitcoin news new breed. To evaluate cryptocurrencies new factors must be considered that economist and equity analysts not look at in the traditional financial markets. These include the number of active nodes, the daily number of transactions, the level of decentralization, adoption rates as well as the network effect, to name a few.
Hence, any analysis of bitcoin and other crypto assets must incorporate valuations techniques that are tailored specifically towards this new digital asset class for it to carry any weight in this brave new world of investing in cryptographic assets. Everyone Has an Opinion It seems like not everyone wants to hold bitcoin as an investment but everyone has an opinion about it. His argument for this conclusion is: Jon Matonis, economist and co-founder of the Bitcoin Foundation, disagrees and said, in an interview with Business Insider, that he remains h not zero bitcoin news that cryptocurrencies are not in bubble territory: Exclusives Bitcoin Transactions Are Down:
