Gatecoin, a Hong Kong based cryptocurrency exchange, expects bitcoin’s priceto reach $5,000 by the end of the year, according to Bloomberg. The price prediction was headlined on “Bloomberg Daybreak: Asia,” which featured an interview with Aurelien Menant, Gatecoin’s CEO and founder, about the causes of bitcoin’s recent price surge and his expectations for continued growth. He said the markets are driving increasing interest in bitcoin.
“Another factor that is very important is the arrival of more and more institutional investors in bitcoin,” Menant said. “Historically we used to have a few hatch funds trading bitcoin in Europe and the U.S. Now we have around 60 or 70 of them that are starting to trade bitcoin.”
Some funds are now dedicated to digital currencies. “So this is definitely driving a surge in the price,” he said.
Full story at http://bit.ly/2wz8JBc
Source: CryptoCoinsNews
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