Saturday, May 13, 2017

Bitcoin Price Hits New All-Time High Again at $1,866: Major Factors for Growth

Bitcoin Price Hits New All-Time High Again at $1,866: Major Factors for Growth

On May 9, Cointelegraph reported that Bitcoin price established a new all-time high at $1,733. In just two days, on May 11, Bitcoin price achieved its new global average all-time high at $1,866.

Previously, Cointelegraph revealed that high-profile and institutional investors envision Bitcoin increasing to around $4,000 by the end of 2017. Specifically, Daniel Masters, director at Global Advisors Bitcoin Investment Fund (GABI), stated:

"That example of a successful soft fork in Litecoin has made people start to think that we could get a successful SegWit implementation in Bitcoin and that could increase capacity and move us to the next level. In the eight to 14-month horizon, my forecast would be around $4,000.”

Masters emphasized that Litecoin’s official activation of the Bitcoin Core development team’s Segregated Witness (SegWit) early today is serving as a major driving factor of Bitcoin price. Since miners and investors are carefully observing the effect of SegWit on Litecoin, Masters explained that the demand for Bitcoin is rising exponentially.

Full story at http://bit.ly/2pvfC4p

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