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Thursday, March 16, 2017

Bitcoin Price Can Climb Far Above Clif High’s Estimate of $13,000: Factors & Trends

Bitcoin Price Can Climb Far Above Clif High’s Estimate of $13,000: Factors & Trends

Clif High’s estimation that three ounces of gold would be equal to a Bitcoin in price by this time next year remains a bizarre proposition that is not impossible to achieve.

In a way, a predicted Bitcoin price rise from a meager $1180 to more than $13,000 seems attractive and the technicality of how that would be the case defies common understanding of the law of demand and supply. It could be a repeat of the 1979/1980 scenario.

This link to a historical event particularly fits in with the fact that High’s data sets have been proven accurate in other instances and his latest estimate show that Bitcoin price would be hinged on the rising price of gold - from $1206 today to about $4,800 by March next year, about a 300 percent increase.

Full story at http://bit.ly/2mTjY2n

 

 

 

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