Bitcoin Price Will Likely Increase to $5,000 Post SegWit: Reasons & Trends

[josep]

Previously, Cointelegraph reported that RT host and financial analyst Max Keiser predicted Bitcoin price to “cruise through” $5,000 in the short term.
With the Bitcoin Core development team’s transaction malleability fix and scaling solution Segregated Witness (SegWit) lock-in achieved, the market and investors are expressing their confidence in Bitcoin and its ability to scale.
The certainty and imminence of SegWit activation has definitely acted as a driving factor in sustaining the upward momentum of Bitcon’s value.

Scaling debate on Bitcoin and its block size has been prolonged since 2015 and the activation of SegWit marks a significant milestone in Bitcoin and the first major step towards scaling.
But it is also inaccurate to attribute the surge in Bitcoin price solely to the activation of SegWit.

Throughout 2017, mainstream adoption of Bitcoin by general consumers, traders, institutional investors, large-scale conglomerates and merchants significantly increased.
Such rapid increase in adoption demonstrated the acceptance of Bitcoin as a widely-recognized digital currency, in addition to being a safe haven asset and digital gold to long-term investors.

Three main reasons why Bitcoin price will continue to rise
Bitcoin price will likely increase at a consistent rate in the upcoming months mainly due to three driving factors: adoption by institutional investors, elimination of uncertainty in Bitcoin’s scaling issues and increased legalization of Bitcoin in major economies.

Bitcoin and the entire cryptocurrency market’s daily trading volume has surpassed $5.5 bln, with Bitcoin and Ethereum accounting for nearly $3 bln of the cryptocurrency market’s daily trading volume.
Through highly regulated exchanges including Gemini’s daily Bitcoin auction and the Chicago Board Options Exchange (CBOE)’s Bitcoin integration, institutional investors will be able to trade and invest in Bitcoin with higher liquidity.

Already, some of the largest investment firms in the world including Fidelity Investments, which oversees over $2.13 tln in assets, have announced that they have invested in Bitcoin and Ethereum.
Fidelity CEO Abigail Johnson stated:

"We have built proofs of concepts that accept Bitcoin micro-transactions. We set up small Bitcoin and Ethereum mining operations, just done in the spirit of learning. But I am still a believer – and it's no accident that I'm one of the few standing before you today from a large financial services firm that hasn't given up on digital currencies.”


Perhaps more importantly, uncertainty around a hard fork execution and Bitcoin’s scalability have been eliminated with the recent Aug. 1 hard fork of Bitcoin Cash (BCH).

For years, the Bitcoin community and industry have expressed their concerns over potential security issues of a hard fork but in actuality, the BCH hard fork had minimal impact on the Bitcoin network and the value of Bitcoin and demands towards the digital currency have never been higher.

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[joseafonso123az]

bitcoin is still volatile, and a lot will happen to it. If it will reach 5,000 maybe yes because it is aiming for that and also it is stronger after 1st August. But there will be always a lot of people trying to make changes in bitcoin world that could be crucial for bitcoin. Hope bitcoin supporters always think good about bitcoin, and don't let this people do any harm to bitcoin

[Aur3]

Previously, Cointelegraph reported that RT host and financial analyst Max Keiser predicted Bitcoin price to “cruise through” $5,000 in the short term.
With the Bitcoin Core development team’s transaction malleability fix and scaling solution Segregated Witness (SegWit) lock-in achieved, the market and investors are expressing their confidence in Bitcoin and its ability to scale.
The certainty and imminence of SegWit activation has definitely acted as a driving factor in sustaining the upward momentum of Bitcon’s value.

Scaling debate on Bitcoin and its block size has been prolonged since 2015 and the activation of SegWit marks a significant milestone in Bitcoin and the first major step towards scaling.
But it is also inaccurate to attribute the surge in Bitcoin price solely to the activation of SegWit.

Throughout 2017, mainstream adoption of Bitcoin by general consumers, traders, institutional investors, large-scale conglomerates and merchants significantly increased.
Such rapid increase in adoption demonstrated the acceptance of Bitcoin as a widely-recognized digital currency, in addition to being a safe haven asset and digital gold to long-term investors.

Three main reasons why Bitcoin price will continue to rise
Bitcoin price will likely increase at a consistent rate in the upcoming months mainly due to three driving factors: adoption by institutional investors, elimination of uncertainty in Bitcoin’s scaling issues and increased legalization of Bitcoin in major economies.

Bitcoin and the entire cryptocurrency market’s daily trading volume has surpassed $5.5 bln, with Bitcoin and Ethereum accounting for nearly $3 bln of the cryptocurrency market’s daily trading volume.
Through highly regulated exchanges including Gemini’s daily Bitcoin auction and the Chicago Board Options Exchange (CBOE)’s Bitcoin integration, institutional investors will be able to trade and invest in Bitcoin with higher liquidity.

Already, some of the largest investment firms in the world including Fidelity Investments, which oversees over $2.13 tln in assets, have announced that they have invested in Bitcoin and Ethereum.

Fidelity CEO Abigail Johnson stated:

"We have built proofs of concepts that accept Bitcoin micro-transactions. We set up small Bitcoin and Ethereum mining operations, just done in the spirit of learning. But I am still a believer – and it's no accident that I'm one of the few standing before you today from a large financial services firm that hasn't given up on digital currencies.”


Perhaps more importantly, uncertainty around a hard fork execution and Bitcoin’s scalability have been eliminated with the recent Aug. 1 hard fork of Bitcoin Cash (BCH).

For years, the Bitcoin community and industry have expressed their concerns over potential security issues of a hard fork but in actuality, the BCH hard fork had minimal impact on the Bitcoin network and the value of Bitcoin and demands towards the digital currency have never been higher.

This is great news. Bitcoin continues to convince more people to invest if that happens. The 3000 mark is as good as the sizzling chicken served hot during Friday dinner but to get to 5000, this is an accomplishment like no other. Make it happen, Team Bitcoin. Make us prouder!

[CryptonomyCapital]

I hope you're right and I'll fix a profit of 900%. I thought that the price will be 3000$ again only to the end of the year, but everything goes faster)

[Proton2233]

It is not difficult to predict. Bitcoin price always goes up. All people know this and so try not to sell your coins. This approach may not lead to a different result. The growth of bitcoin prices can stop only then when you see the turnover of bitcoins in everyday life and are mined all the coins.

[sahiaman]

As of the bitcoin market cap crossed $56 billion, this is so great as bitcoin reached from below $1,000 to above $3,500  within a year. This is for sure the target of $5000 is not a big figure to reach for the bitcoin in coming days. After the SegWit which is one way a beneficial for it as it increases the transaction and blocks size.

[elite3000]

source: https://cointelegraph.com/news/bitcoin-price-will-likely-increase-to-5000-post-segwit-reasons-trends

We all want to believe in bitcoin going as high as possible, but it is hard to make exact predictions for the future

[Zadicar]

source: https://cointelegraph.com/news/bitcoin-price-will-likely-increase-to-5000-post-segwit-reasons-trends

We all want to believe in bitcoin going as high as possible, but it is hard to make exact predictions for the future

Its possible but it would be too fast for sure and as you said its really hard to predict exactly on to the future since no one would really knows on whats ahead. If this thing would happen then it would really be an advantage for us who do make use of it specially on investors and traders. We do really love to see high prices but we should not expect too much.

[L00n3y]

source: https://cointelegraph.com/news/bitcoin-price-will-likely-increase-to-5000-post-segwit-reasons-trends

We all want to believe in bitcoin going as high as possible, but it is hard to make exact predictions for the future

We all know that this world is governed by mathematics and sciences and this markets can be solve through economics and some probabilities but still the its accuracy in what we call future is uncertain because we can't measure the faith and loyalty and some uncommon events.
We can speculate but not too much. Predict, but don't expect so much.

[Kprawn]

People wanted a decentralized payment network with fast/cheap transactions and they are getting this with all of these forks.

Nobody can complain about scaling anymore and they can launch their services with Bitcoin payment support. Once the

Lightning Network are in place, we will easily support cheap micro transactions and mainstream adoption.  

[virtualdn]

$5,000 is nothing. Bitcoin will go to $50,000 and beyond...just have some patience all bitcoiners around the globe