Sunday, August 18, 2019

Traders Wager On Bitcoin Hitting $50,000 Soon

With present happenings in the crypto market and rumours about circumstances surrounding 2017 all-time high price of bitcoin, it looks daunting whether we’ll hit nor surpass the existing record set by bitcoin anytime soon.

Some recognisable names in the crypto world are committed to sending bitcoin’s value down to Zero.

Fortunately, some trades are optimistic about the direction of the most valued cryptocurrency, bitcoin. In a recent report by WSJ, it shows some sizeable numbers of traders wagering over bitcoin’s price.

They believe the price of bitcoin will be more than double its present record of about $20K, which it currently stands. They set the price of bitcoin at $50K sometime between now and June 2020.

This is coming to join a host of other optimists who believe the price will be worth a fortune in future with some forecasting between $500K to a million dollars.

Driving Force Behind Bitcoin’s Price

Sadly, the most valued cryptocurrency isn’t driven by what its created to be – a means to settle micropayments.

Its main driving force remains a demand for speculative purpose. Its use, for this reason, has gotten the attention of many, from all spheres of life.

Unfortunately, the clear reasons behind bitcoin not used for its original purpose are mainly because of some governments regulations set for the cryptocurrency.

The government not supportive of cryptocurrencies, especially privacy tokens mainly is for the fact that there are uncontrollable by them. The government (financial authorities) believe these fintech inventions are used by terrorists to fund their evil activities.

Related Article:  Ledger CEO: Every Crypto Investor Should Use a Hardware Wallet

They are also of the notion that privacy coins are tools to launder money across borders.

However, different government, though they clamped down on bitcoin, believe in its underlying technology – creating a “controllable” cryptocurrency for its citizens.

McAfee Promises To Eat His Genitals If His Prediction Fails

Sometime towards the beginning of 2018, McAfee boasted in his analysis skills. He said he’ll eat his dick if his predictions didn’t come to pass.

Thankfully, the internet never forgets, and hopefully, his prediction comes true as to avoid seeing a first of its kind – a man feasting on his genitals.

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