The past few days have seen a surge in the value of BTC. This is partially due to the uncertainty of Bitcoin's future in June/July leading up to the hardfork on the 1st August 2017. Uncertainty in Bitcoin lead to huge gains in the altcoin market causing record lows in BTC Dominance (below 40%). Bitcoin's future seems to be stabilizing in the short term despite a potential hardfork looming in November 2017.
With this in mind, I think we will see a continual upward trend with expected pullbacks. If Bitcoin pushes through November unscathed, it may reach new all-time heights of
USD $7000-8000. This is a bold prediction, but I am one of the insane few that expects exponential growth and mainstream adoption of cryptocurrencies in the next 3-5 years.
Finally, take these last couple of days as a reminder for the future. If you believe in the future of any small, medium or even large cap coins, perceive this dip as a discount. Bitcoin should stabilize. If and when it does, money will flood back to the neglected alt coins.
- cryptolearn
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