[2017-09-17] Wall Street Analyst Sees Bitcoin Surging to $25k Despite China Exch

[tyz]

Wall Street Analyst Sees Bitcoin Surging to $25k Despite China Exchange Ban

Major Wall Street analyst Thomas Lee, the co-founder Fundstrat Global Advisors, appeared on CNBC’s Fast Money and reaffirmed his short-term price target of $25,000, despite the nationwide ban on bitcoin exchanges issued by the Chinese government and its financial regulators.
By the end of October, merely less than three weeks ago, bitcoin price reached $5,000 for the first time in history. The integration of the BItcoin Core development team’s transaction malleability and scaling solution Segregated Witness (SegWit) was showing evident effect on the scalability of bitcoin, drastically decreasing the size of the bitcoin mempool and average block size to 0.57MB.

http://www.newsbtc.com/2017/09/17/wall-street-analyst-sees-bitcoin-surging-25k-despite-china-exchange-ban/

[iram1011]

$25000 is indeed a realistic price predicted by Thomas Lee. Bitcoin has the potential to touch this price by next year. The reason are many such as there are chances of Bitcoin being accepted by more numbers of merchants because of considerable decrease in fees due to Segwit and hence, utility will increase as the result, many investors are shifting towards crypto for better profit in short term, media is covering Bitcoin a lot recently and many countries will legalize Bitcoin in coming months or years. These all factors will only lead to increase in demand in millions, where supply every a year is 600k till next halving and hence limited. Price is sure to appreciate. This China ban will only have short term impact. Bitcoin is world's currency and one country can't really change the picture.

[Wekkel]

Bitcoin is a Better Story in terms of money. That story is not impeded by FUD crashes and hard words coming from the old world. Indeed, it already is a de facto world currency. It still has its best days ahead of it.