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Author Topic: [2017-08-20]Bitcoin Price to Reach $5,000 This Year, Predicts Gatecoin CEO  (Read 4672 times)
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August 20, 2017, 09:23:15 PM
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Gatecoin, a Hong Kong based cryptocurrency exchange, expects bitcoin’s price to 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.

China Will Increase Regulations

Asked if he expects more regulation from China, Menant answered in the affirmative. “China is catching up with other countries like Japan or the U.S. that have already regulated bitcoin,” he said. Given that bitcoin’s market capitalization has reached $70 billion, “Obviously you need to have some rules in place to prevent money laundering, so to me it’s natural and rather a good thing that the governments and central banks are starting to regulate bitcoin.”


Asked if the popularity of bitcoin and cryptocurrencies is driven by the perception that they are safe havens, he said bitcoin is not dependent on traditional markets, central banks and other currencies.

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“Another property of bitcoin is to make it impossible – I mean you own your own bitcoin so nobody can seize them, and in that regard when people are less and less trusting of government, the central bank or regular markets, bitcoin is even more efficient asset than gold,” he said.

Also read: Bitcoin price to reach $6,000 in 2018, predicts Wall Street strategist

Bullish Price Predictions Continue

While the bitcoin price pulled back from its all-time high this weekend, weighed down by a bitcoin cash price surge and disagreements over the SegWit2x scaling proposal, Wall Street strategist Tom Lee wrote a note to clients establishing a mid-2018 bitcoin price target of $6,000. He also forecasts that it could rise as high as $25,000 by 2022.

Lee – who co-founded Fundstrat Global Advisors and is bearish on the outlook for the stock market –  believes that the long-term prospects of the bitcoin price remain quite promising.

https://www.cryptocoinsnews.com/gatecoin-bitcoin-to-reach-5000-this-year/
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August 21, 2017, 06:42:31 PM
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Even without all this long article and explaining I can say you - yes, bitcoin will reach 5000$ this year. The fixed maximum of crypto-currency on 17th of August was 4520$ and this sum is closer to 5000$ more than to 4000$ point indeed. Everything what is happening in the crypto-currencies community is telling us that we can expect 5000$ during the year and that this year is going to be the year of Bitcoin!
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August 21, 2017, 06:49:12 PM
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Everything what is happening in the crypto-currencies community is telling us that we can expect 5000$ during the year and that this year is going to be the year of Bitcoin!

As long as we don't know how things will play out when it comes to the hard fork in November, we can't just take a higher price for granted so easily. Other than that, reaching the $5000 isn't that much of an achievement how things are right now, and it will definitely not be the year of Bitcoin. Every year with growth can be seen as a Bitcoin year. If we're talking about the year of Bitcoin, it implies that it is some sort of an ultimate year, which it obviously isn't. Everything we experience right now is still peanuts if we look at how things might be in the long run.
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August 21, 2017, 09:54:05 PM
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Everything what is happening in the crypto-currencies community is telling us that we can expect 5000$ during the year and that this year is going to be the year of Bitcoin!

As long as we don't know how things will play out when it comes to the hard fork in November, we can't just take a higher price for granted so easily. Other than that, reaching the $5000 isn't that much of an achievement how things are right now, and it will definitely not be the year of Bitcoin. Every year with growth can be seen as a Bitcoin year. If we're talking about the year of Bitcoin, it implies that it is some sort of an ultimate year, which it obviously isn't. Everything we experience right now is still peanuts if we look at how things might be in the long run.

Whatever happens in November, majority will always stay with Bitcoin. Most of the people here hold BTC and invest in BTC primarily so I highly doubt that they will support forked coin.
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August 22, 2017, 01:30:04 AM
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Even without all this long article and explaining I can say you - yes, bitcoin will reach 5000$ this year. The fixed maximum of crypto-currency on 17th of August was 4520$ and this sum is closer to 5000$ more than to 4000$ point indeed. Everything what is happening in the crypto-currencies community is telling us that we can expect 5000$ during the year and that this year is going to be the year of Bitcoin!

Agreed. Bitcoin surpasses $4500 a few weeks ago and I think its likely to touch $5000 before the end of the year. I can't think of any reasons that it wouldn't. New investors joining in as well that will push the price to new levels. I think with all the prediction of market analyst and even casuals like us really points to the direction that bitcoin in the future would really increases.

There will be another big milestone coming in November, but I still think that it will just a minor blip if ever the price slip down again, but will rise again to levels we haven't touch before the end of the year.

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August 22, 2017, 06:38:32 AM
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Just $5000? It will easily reach $7000 this year. $5000 is very possible in next month itself. If I understand market and demand and supply curve. I could safely say that there is increase in demand for Bitcoin recently because of countries and media recognizing Bitcoin. Many investors are turning towards Bitcoin because it is a safest investment today with higher returns.

Evey investor understands the importance of LESS RISK AND HIGH ROI and any investment comprise of both is a heaven to investors. Bitcoin has both.
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