Now, a days the price of Bitcoin is going down as many people made predictions that the price may go up till 10k but this really didn’t happen the price has started fluctuating from last two weeks the price fluctuation reached about 5k but this week the market has shown growth in market the price increased and has shown good hope to people.
On the other hand, many people again gave their prediction on price fluctuation on Bitcoin, one of the cryptocurrency analyst Danny Scott, the co-founder of crypto exchange CoinCorner says he expects bitcoin to stay around the $6,000 in the short term, but that by Christmas it will have almost trebled in price.
Scott said in his statement on Friday that:
“For the last few months, the price of Bitcoin has been at $6,000 which we believe will continue for a while but we predict the price will reach $15,000 by the end of the year. We take this view because the retail market is continuing to expand at a very healthy rate based on both our own data and industry trends, To add to this, we are also seeing huge amounts of investment coming through from High Net Worth individuals and institutes purchasing Bitcoin in high volumes. This all adds to the increase and interest of the cryptocurrency.”
The Bitcoin has highly raised above with $6,500 in a night but it again slipping slightly back below this morning.
The positive movement builds on the mid-week stability to add 2 percent to bitcoin’s value since this time yesterday.
Here are the updated price cryptocurrencies:
Bitcoin Cash: $536
Other significant price points have been reached by ethereum and bitcoin cash, breaking above $300 and $500 respectively. The gains signal a market-wide recovery for the world’s top cryptocurrencies. Most cryptocurrencies have no function yet.
A new study of the top 100 most valuable cryptocurrencies has found that only 40 of them serve any useful function or provide “real value” to the public.