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Title: [2017-05-08]Bitcoin hits $1,600 for the first time Post by: Karpeles on May 09, 2017, 02:36:54 PM Bitcoin hits $1,600 for the first time and one investor says it could rally to $4,000 in a few months
The bitcoin price. could rise to about $4,000 within 8 to 14 months, investors say. The recent price rise has been driven by positive developments around the underlying technology with a rival cryptocurrency called litecoin. Bitcoin (http://data.cnbc.com/quotes/BTC%3D-USS) is "fully valued" and could see a pullback in the short term after hitting $1,600 for the first time on Monday, according to one investor, but the price could go as high as $4,000 over the next 14 months. The cryptocurrency has been on an upward move since April (http://www.cnbc.com/2017/04/27/bitcoin-jumps-to-a-new-all-time-high-above-1300-capping-20-april-surge.html)and was trading around $1,575.52 by early afternoon trading in London after hitting an all-time high $1,601.05 during morning trade, according to the Coindesk bitcoin price index. In the last 30 days, bitcoin has risen over 33 percent. http://www.cnbc.com/2017/05/08/bitcoin-price-hits-record-high-and-4000-is-ahead-investor-says.html Title: Re: [2017-05-08]Bitcoin hits $1,600 for the first time Post by: richardsNY on May 09, 2017, 03:08:23 PM It's easy to say something when the price goes up nicely. I am sure that if we were still hovering around the $1000 level, that these investors wouldn't make such a statement. That's why I don't add much value to these predictions. If you just look at the pace of current increase, then it could even reach $5000 within 12 months. But what's this prediction worth? Absolutely nothing -- things don't just go up in value, regardless of the demand and positive sentiment.
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