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Saturday, October 21, 2017

Crypto News: Leading Expert Says Bitcoin Will Soar Above $25,000 in 5 Years

Leading Expert Says Bitcoin Will Soar Above $25,000 in 5 Years

It has been almost a week since the latest historic Bitcoin price breakthrough, when the world’s most popular cryptocurrency surged past $5,300, only to reach $5,800just a few hours later. At time of writing, the price of the popular cryptocurrency has been hovering around $5,700 — up by more than $500 in 24 hours, and by $342 since last week.

Experts say the upward trend for Bitcoin will only continue: FundStrat Global Advisor co-founder Tom Lee believes the value of bitcoin could ultimately achieve a high of $25,000 in the next five years. Speaking to Business Insider for the first episode of their crypto-finance show “the bit,” Lee explained that bitcoin could eventually replace gold as the standard of financial value.

“I think this next generation of young people view bitcoin as their store of value. And if it captures 5% of the gold market, it’s worth at least $25,000 per unit,” Lee said.

Bitcoin is like a social network, Lee said. The more engagement bitcoin has, the higher its value will rise. “And in the short-term, we think bitcoin will reach at least $6,000 by mid-2018,” he added. That’s actually a moderate estimate: Other experts have predicted it could hit $6,000 before the end of this year. Crypto coin mogul Mike Novogratz recently told CNBC he believes that bitcoin could reach  $10,000 by April 2018.

Full story at

Source: Futurism

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