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Faced with the prospect of a new year, several industry experts and Bitcoin enthusiasts are starting to inquire about the price of the criptomonedas for next year. For a currency as volatile as Bitcoin, determining its price is a challenge. In May it was quoted at $ 450, while in June its price reached $ 750. Right now he's at the $ 600 barrier.
People will use Bitcoin more in 2017
Juniper Research predicts that Bitcoin transactions will triple in 2017, reaching $ 92 billion. Key factors for this situation include the fragility of the Chinese economy, the consequences of Brexit in Europe, as well as other problems such as unemployment and poor public finances. The study adds that another of the factors that would help the adoption of Bitcoin would be that Donald Trump won the presidency of the United States in this year's elections.
What will be its price?
Daniel Masters, director of Global Advisors Bitcoin Investment Fund Plc, predicted that Bitcoin will reach $ 4,400 by the end of 2017. Masters believes Bitcoin's adoption will continue to increase, more companies will begin accepting it as a payment method, and there will be more Companies investing in Blockchain technology.
Alan Donohoe, founder of the Bitcoin Association of Ireland, estimates Bitcoin's price will reach $ 800. This would place Bitcoinpor below $ 1,000, a price it achieved in 2013.
Vytautas Karalevicius, CEO of SpectroCoin, believes that Bitcoin transactions will increase, and that Bitcoin will reach between 1,800 and 1,900 dollars.
Earlier this year, Gil Luria, an analyst at Wedbush Securities, predicted its price would be at $ 600 in 2016. At the moment, his predictions seem to be coming true as Bitcoin's price has hovered around $ 600 over the past few weeks. By 2017, Luria predicts that the price will double. In fact, Luria believes that the price of Bitcoin will double each year until 2025, marking an increase of 4,500%.
Vinny Lingham, CEO of Civic, predicts Bitcoin will reach $ 3,000 next year. This would be due to several factors, such as that more will be invested in Bitcoin and in Blockchain technology, which more companies will accept and use the criptomoneda. It also suggests that governments could begin to buy Bitcoin, as opposed to the view that many governments now have regarding the digital currency.
Will the predictions be met?
Many of these predictions are made by people who have a personal interest in Bitcoin, and could benefit greatly from a price increase. In extreme cases, there are experts who have predicted that Bitcoin would reach $ 35,000 in the future without any compelling reasons for these arguments.
Most agree that Bitcoin's price will reach $ 1,000 by 2017. This means that it would nearly double its current price, and implies both an extraordinary and plausible increase. Bitcoinsigue is a safe place for many people around the world who see their countries' economies shrink. In addition, there are governments that are evaluating the cryptonegion, such as Japan and Europe, while inflation in some countries continues to grow. The interest of the companies and businesses by Bitcoin and Blockchain is crucial for the adoption of Bitcoin and how much it grows or decreases its price.