With regard to Bitcoin's price rise in early 2017, Bobby Lee, CEO of BTCC, predicts that Bitcoin's price could reach $ 7,000. For him, the ongoing increase in Bitcoin prices, seen from eight years earlier until now, is not surprising. Because he believes Bitcoin is more promising. He stated that all Bitcoin users must have understood the uniqueness of Bitcoin, and moments like this have been eagerly awaited by many communities.
BTCC is a Bitcoin market in China with the largest trading platform in the Bitcoin market. Furthermore, Bobby Lee said: "The reason people give their attention to Bitcoin is based on geopolitical problems, such as the demonstration efforts in India and Venezuela, foreign capital controls in China, too much money circulating in other countries, especially in United States, Japan, and others. So, when the existing financial system is in trouble, people will turn to Bitcoin. "
Bitcoin's growing price forecasts are also supported by the growing number of companies that receive payments with Bitcoin, such as Overstock.com, Rakuten, Dell, Expedia, and others. In addition, Bitcoin users who trade and use it to purchase primary, secondary, and tertiary needs, such as buying food and beverages, electronic goods, luxury cars, and more, are also getting more and more. It proves that Bitcoin is getting popular. So with the limited supply of Bitcoin, which is only 21 million BTC, while demand is increasing, Bitcoin prices are predicted to continue to move up in 2017.
Ryan Rabaglia, Head Trader of Octagon Strategy, revealed that, he believes that using Bitcoin as a legitimate alternative investment will be a major theme in 2017.
In line with that opinion, Joe Lee, the founder of Magnr, also stated that 2017 will be Bitcoin's year, thanks to increased transactions and the growing number of Blockchain-based technology projects growing and gaining much support.