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Bitcoin and Ethereum Price Forecast - BTC Prices Push Through $12000

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Bitcoin and Ethereum Price Forecast - BTC Prices Push Through $12000

On the US -based Bitfinex exchange, rose to $11,719, up $124, or 1.07% after hitting an all-time high of $11,961 earlier in the session. In particular, prices will not be allowed to move up or down more than 20 per cent from the prior day's close.

To be fair, there are solid arguments to be made for both sides. The market cap of digital currencies are a mere fraction of gold, which itself is a mere fraction of all asset classes. Do you think it could be referred to as a competitor to Bitcoin, as it will not be as decentralized? More people are beginning to understand that fact and it is getting reflected in the price for bitcoin.

The bitcoin's supply is limited to 21 million, which experts believe will be reached around the year 2140.

So, it's fair to say that bitcoin's future potential is at least somewhat priced in at this point.

In a volatile world, volatility is king and Bitcoin has it. Unlike other currencies and assets affected by the performance of the global economy and reserve currencies, Bitcoin is the only cryptocurrency dependent on the market. Meanwhile, the global money supply is estimated to be almost $70 trillion.

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The flexibility of this technology seems to make it unlikely that it will not become a bigger component of our financial systems. Furthermore, there is inconsistency among legislators and the judiciary about whether Bitcoin is a currency or a commodity, thus making legislation hard to draft.

The threat of bitcoins being hacked or stolen would need to be virtually eliminated. Cryptocurrency miners secure transactions on the blockchain and, in exchange for expending considerable computing resources to do so, are rewarded with newly created coins. The blockchain network can now handle about three transactions per second.

No doubt these comments will be considered surprising given the Wall Street bank's CEO, Jamie Dimon's, negative position toward bitcoin. "It's just not a real thing, eventually it will be closed", Dimon said in September 2017.

What you need to know is that due to the current high price of Bitcoin, the investment is flawless for large institutional investors and traders. The bitcoin funds can then be transferred across borders to criminal associates who can withdraw them in any currency. Due to lack of an intrinsic value, it raises the question of whether Bitcoin is a viable long term investment. As I mentioned earlier, bitcoin is not widely used by consumers yet, which is where a currency would derive its economic value. Even if the online bank's website displayed guarantees from government-approved financial authorities, many people would be reluctant to trust them with their hard-earned cash.

We can obtain bitcoin primarily in three ways, which are buying on an exchange, accepting them for goods and services, and mining new ones. This also allows investors to trade on the actual volatility of the futures contract, therefore by extension, in a less connected way, the ability to trade the volatility of Bitcoin.

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