Sign in to follow this 1 Started by Sir Zerps A Lot, May 31 10 posts in this topic Create an account or sign in to comment You need to be a member in order to leave a comment Create an account Sign up for a new account in our community.Register a new account Sign in Already have an account?Sign In Now Sign in to follow this 1From mainstream newspapers to cryptocurrency blogs, it has long been fashionable to predict either soaring highs or miserable lows for Satoshi Nakamoto’s Bitcoin – and it’s easy to see why; the digital token’s value chart resembles a rollercoaster, with our metaphorical train creaking up to the dizzying heights of $3,018 (an all-time record) on Sunday, June 11 before ditching $300 of its newfound value overnight.A yardstick by which to measure Bitcoin’s success has come from Denmark recently, from whatever crystal ball trading and investment firm SaxoBank has in its basement.In its Outrageous Predictions for 2017 document, SaxoBank correctly predicted “huge gains” for Bitcoin, although the company’s guess is rather more modest than reality: >$2,100.

It attributed the cryptocurrency’s success to the potential tripling of the US deficit under President Trump and ongoing support from Russia and China.Now, SaxoBank employee Kay Van-Petersen is hedging his bets on something rather more spectacular – a value of $100,000 per coin within the next ten years or a 3,000% increase on its current price.It’s a lofty goal but, considering the timescale and the fact that Bitcoin’s value has trended upwards almost exclusively for the past year, from $685 per coin at this point last year to something around the $2,700 mark today, it’s perhaps not as harebrained a prediction as it sounds.Along with payment methods like Skrill and e-wallet service Instadebit, Bitcoin has made a name for itself as the “indie” way to pay, the preferred token of counterculture stores and casinos especially.However, while gamers enjoy safer depositing with Instadebit at online casinos, with no transaction fees and instant payments, Bitcoin offers more of a complete ecosystem for economics, letting brands abandon fiat currencies altogether.

Competition with the likes of the dollar and the pound will determine Bitcoin’s future value though, according to Van-Petersen.Bitcoin needs to achieve an average daily volume of 10% of the world’s fiat currencies, a figure in the region of $510bn according to Investopedia.Assuming that Van-Petersen’s prediction comes true, Bitcoin’s market capitalization (MC) would be $1.75tn; in comparison, today, the MC of all cryptocurrencies is $110bn.There’s trouble afoot though.For all SaxoBank and Van-Petersen’s apparent clairvoyance, nobody actually knows what could happen to Bitcoin over the next few years.There’s more than enough evidence that those soaring highs and miserable lows actually follow each other, as was the case at the beginning of 2017, when Bitcoin was still flirting with gold for value, and, as mentioned, when it dropped $300 earlier this month; it’s the cryptocurrency’s ability to recover that keeps it going.By far the biggest hurdle Bitcoin needs to overcome though is infighting – not just surrounding a “hard fork”, potentially splitting the token into two coins, but the ongoing argument of how to improve the Bitcoin network to process more transactions.

With no leader, and with consensus arriving at a premium, Bitcoin is actually moving away from its mission: transactions are no longer free (the average fee is $5) and they’re arriving later than ever before, perhaps due to the bulk of transactions nowadays.buy litecoin using credit cardIn summary, Bitcoin has a nearly clear path to a per coin value of many thousands of dollars – as long as it doesn’t derail itself along the way.litecoin wallet pool mining* FM HomeCryptoCurrencyTradingFollowing Bitcoin ETF Rejection Dash and Ethereum Set New Records Following Bitcoin ETF Rejection Dash and Ethereum Set New Records After the US Securities and Exchange Commission (SEC) rejected the Winklevoss twins’ Bitcoin ETF application late on Friday, cryptocurrencies reacted paradoxically with an impressive show of strength.Despite initial jitters sending it sharply down immediately after the SEC announcement, the price of bitcoin has completely rebounded from the negative news by now, with the price back above $1200.litecoin mac

However, the real winners from the move were top alternative cryptocurrencies that greatly benefited from the unleashing of suppressed demand.The smart contracts and decentralized apps blockchain, Ethereum, is now traded for around $27.ethereum reddit forumThis is an impressive price record for ETH, which completed a rise of about 40% in just one week.bitcoin bowl party deckIn total, the market capitalization of all Ethereum tokens in circulation is worth $2.44 billion.Privacy-focused cryptocurrency Dash also saw an amazing rise with its price now reaching above $75 – a jump of 66% in a week.ig bitcoin priceThe total market cap of the Dash blockchain is now above half a billion dollars ($540 million).Ethereum and Dash, the number two and number three biggest cryptocurrencies respectively, got a positive publicity boost from the bitcoin ETF drama, as mainstream financial publications covered how new traders who find the number one coin too expensive to enter the market with turned to them for crypto exposure.Another altcoin whose holders can be quite happy today is Monero.litecoin million