Crypto News: Industry Experts Believe Bitcoin Headed to $6,000

There’s an old saying, “Don’t let the fox watch the henhouse.” This may well be true when it comes to crypto-industry insiders and their opinions about the price of Bitcoin. But whether anti-Bitcoin fanatics like it or not, the price is steadily climbing toward the $6,000 mark.

With the price of Bitcoin climbing toward the elusive $6,000, the reasons behind this rise are a point of contention. With the industry in an uproar, some market leaders link the rise in price to the increase in Bitcoin liquidity. For example, Luis Cuende, cofounder of Aragon said:

"I think the rise in Bitcoin prices reflects the enthusiasm that the public has into Bitcoin being a digital currency and new technical solutions like SegWit, that enable more scalability and new solutions for instant payments.”

Not everyone thinks that Bitcoin is a good choice for currency, especially since prices fluctuate so rapidly and massively. Nevertheless, in countries like Argentina, where the fiat currency is effectively valueless, Bitcoin may well be the only option. According to David Henderson, Founder of Sweetbridge:

"A quick look at Bitcoin’s price history (the two pizzas famously ordered by a developer for 10,000 BTC in 2010 would be worth about $30 million each today!) shows the challenges in using this as a transactional currency or as collateral, as the fluctuations are significant and frequent, unlike most fiat currencies. That said, it can provide an alternative in countries where the local currency is heavily controlled, restricted and subject to very high inflation."

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

Source: CoinTelegraph

 

 

 

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