CAN BITCOIN TRULY HIT $5,000 AS PREDICTED
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The talks going around now by stock investment research analyst is that the Bitcoin price might hit a record high price of $5,000 in the next 12 months which would be a huge profit for those that invested early enough into Bitcoin. But the question i ask myself is can this really happen even with SegWit set to launch in few days and we dont know what the outcome of that activation will be so i will leave some few questions and thoughts below on what i feel about this prediction..
Questions to be asked?
* If this actually happen dont we think users who doesnt have huge trading power will opt for other crypto-currencies like Ethereum, LitCoin and Steemit that are ready to take over from Bitcoin?
* I hope this increase in price wont come as a result of deliberate withdraw of bitcoin from the circulation by some key stockholder's in the bitcoin community?
Thoughts
Based on my questions, i feel if this should happen it would probably be as a result of a deliberate withdraw/withholding of bitcoin in circulation by the key players in the community to see the price jump up, which i think would be a bad idea because if at the end of the day the secret to this is linked users will want to dump bitcoin and move to some other crypto. But i honestly dont see the price going up to $5,000 in the next 12 months for these reasons too
* The new activation haven't being launched and we are yet to know the ultimate answer to users/miners reaction in the end.
* Rumor that Bitcoin Unlimited might split which have left some of us in distress which might also affect the price negatively if the rumor happens to be true.
With this reason i dont see this happening in 12 months but maybe in 14 - 18 months if Bitcoin Unlimited stays and the new update meets the miners exceptions and also plan on adopting the Unlimited idea of increasing blockchain and reduce confirmation period that is inevitable.
Reference: Read more about the prediction through https://www.cryptocoinsnews.com/stock-research-analyst-bitcoin-to-hit-5000-in-a-few-months/
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