Global Stock Markets
It has been predicted that Bitcoin could reach prices as high as $50,000 this year, although it will be as volatile as ever.
These predictions have been made by Jeet Singh, who is a cryptocurrency portfolio manager, who has also said that it is common for virtual currencies to fluctuate by as much as 70 or 80 percent. He compared Bitcoin to technology giants.
He say, If you look at Microsoft or Apple, when they went public, their stocks were very volatile because the market wasn’t mature.
This volatility might have worried new traders, but experienced traders are likely to be much less concerned, as they are used to larger fluctuations.
This does mean though that as Bitcoin becomes more mainstream, and even inexperienced traders get a better understanding of cryptocurrencies as a whole, this volatility is likely to calm down, which has led him to make huge predictions
The fact that Bitcoin is so volatile has meant that it has received a lot of criticism, and even that it is a bubble that will soon burst.
Stephen Poloz, the boss of Bank of Canada, has previously claimed that virtual currencies would never be used as a real currency, and have even branded it as a form of gambling, and not a legitimate investment.
These predictions have been made by Jeet Singh, who is a cryptocurrency portfolio manager, who has also said that it is common for virtual currencies to fluctuate by as much as 70 or 80 percent. He compared Bitcoin to technology giants.
He say, If you look at Microsoft or Apple, when they went public, their stocks were very volatile because the market wasn’t mature.
This volatility might have worried new traders, but experienced traders are likely to be much less concerned, as they are used to larger fluctuations.
This does mean though that as Bitcoin becomes more mainstream, and even inexperienced traders get a better understanding of cryptocurrencies as a whole, this volatility is likely to calm down, which has led him to make huge predictions
The fact that Bitcoin is so volatile has meant that it has received a lot of criticism, and even that it is a bubble that will soon burst.
Stephen Poloz, the boss of Bank of Canada, has previously claimed that virtual currencies would never be used as a real currency, and have even branded it as a form of gambling, and not a legitimate investment.
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