Bitcoin Price is Headed to $25,000 Despite Recent Setbacks: Researcher on CNBC

[BADecker]

Bitcoin Price is Headed to $25,000 Despite Recent Setbacks: Researcher on CNBC

He said it in his recent interview with CNBC's Fast Money program.

Bitcoin suffers
Although Bitcoin has suffered from recent negative news from countries like China such as banning of ICOs and planning to shut down the Bitcoin exchanges by the end of the month, Lee thinks there are still advantages to the situation.

According to Lee, there are two factors in the issue - liquidity effect and perspective of the people. According to him, Chinese exchanges operate with 30 percent of Bitcoin value. If they decide to shut down the digital currency, obviously there is gonna be force selling.

It's safe to point out that there have been seven times already that the crypto world has seen a setback of this magnitude.

Read more at https://cointelegraph.com/news/bitcoin-price-is-headed-to-25000-despite-recent-setbacks-researcher-on-cnbc.

[BADecker]

Key Findings From Cambridge Cryptocurrency Study

Key highlights of the study include the number of users and wallets, the burgeoning cryptocurrency industry sectors and the impact the technology is having, as well as interesting information about exchanges, payments and mining.

The cryptocurrency industry
As a nascent industry, information was needed to determine how much of an impact digital currencies are producing. New companies and services have emerged to facilitate the workings of cryptocurrencies, and their data shows that it really is a virgin market.

The study found that 1,876 people work full-time in the cryptocurrency industry. Of those, the most find work in Asia-Pacific with 720. Behind that is North America with 676 employees.

Read more at https://cointelegraph.com/news/key-findings-from-cambridge-cryptocurrency-study.

[hua_hui]

The recent setbacks just delay the progress of bitcoin. But that does not means that bitcoin wont improve from here. So far, it is estimated that about 1% of the world knew about bitcoin and about 5% of these 1%, which is roughly about 5 out of 10,000 people get into bitcoin. And this is increasing throughout the years, so when more people know about bitcoin and even believe in bitcoins, bitcoin price will keep increasing as it is limited supply.

[buwaytress]

I actually saw this excerpt on a news feed and thought it was from Charlie Lee. While it's good to hear things like this, I somehow still view these reports as arbitrary noise on the news. I can't say if the balance between FUD and enthusiasm has reached equilibrium on the mainstream, but I have to wonder what the real point can be in these kinds of predictions, other than bragging rights at some obscure point in the future! Also, tags like former MD at JP Morgan won't lend any credence.

Nevertheless, one good comment raised I did not know about: only 300,000 holders of at least $5,000. I suspect, after removing exchanges, start-ups and them angels, you might end up with a far smaller number of actual holders. That's good news for someone like me, yet to hold my 1 BTC.

[Hijikata]

So this guy that worked at JP Morgan is a good guy. The other that works at JP Morgan is a bad guy cause he works for the bankers...lols

Most of you would suck both Sanders and Trump sametime with Hillary fisting you if they would be promoting bitcoin.

[John Wick]

This $25,000 target looked high to me honestly, but it can be still possible for the long term like 5 or 6 years. Why not. It was nice to hear that we're not dependent on china and its stupid decissions, the community should drive the car themselves.

[Ucy]

It definitely will but when is what we aren't sure.
Government cannot stop Bitcoin. If Chinese ban fails no other country on earth can stop it. I believe Bitcoin is unstoppable. It has a soul.

[peterthegreat]

Of course it is heading to $25,000. It is heading to trillions, but when is the question. I think that'll happen in 20 years, but the $25,000 I think will happen in 5 years.

[A1exander]

Seems to be a reasonable estimate. Not crazy, like a million USD or tens of thousands by the end of this year. In a few years... maybe. And only 300,000 wallets worth more than $5000... well, I feel priviliged.

[BADecker]

Of course it is heading to $25,000. It is heading to trillions, but when is the question. I think that'll happen in 20 years, but the $25,000 I think will happen in 5 years.

And when it hits the $trillions, or whatever, the satoshi will need to be divided so that everyone who came in late will get a piece of the action. They will need part of Bitcoin just to live, because Bitcoin will have replaced all the other currencies in the world.

[sofi@]

China had banned bitcoin but it does not mean that bitcoin will going to die because we all know for a fact that bitcoin has been accepted by many countries and is getting more popular through the years I think even some countries banned bitcoin its demand will still go higher and also the value appreciation will continue to go up. Its in the hand of people who continue to patronize digital currencies and the embracing the new technology.

[BrewMaster]

"Despite Recent Setbacks"? what the hell does that supposed to mean
as if a simple drop due to FUD could have prevent bitcoin from going to $25,000 and beyond that!

this leads to believe that the authors are pretty new to bitcoin world and additionally they forgot to do a little history research before writing their articles.
these "setbacks" are pretty normal for bitcoin or any other market after a long bull run and when that is followed by lots of bad news and FUD we are supposed to see drops like this. but none of it means the rise has stopped. it simple were postponed.

[lighpulsar07]

nah i don't think so 25k is way too high to reach but not possible within 10 years since the users and investors are going to bitcoin and invest their money in there and also the governments of some countries accepting bitcoin as financial instrument but we shouldn't forgot that any bad news or good news can affect the bitcoin price for example the closing down btcc and banning of exchanges in china

[BADecker]

"Despite Recent Setbacks"? what the hell does that supposed to mean
as if a simple drop due to FUD could have prevent bitcoin from going to $25,000 and beyond that!

this leads to believe that the authors are pretty new to bitcoin world and additionally they forgot to do a little history research before writing their articles.
these "setbacks" are pretty normal for bitcoin or any other market after a long bull run and when that is followed by lots of bad news and FUD we are supposed to see drops like this. but none of it means the rise has stopped. it simple were postponed.

The Bitcoin investment community is the group that says "Despite Recent Setbacks..." because of the recent drop in the Bitcoin price from near $5000 USD to around $3500 USD.

[mk4]

The recent setbacks just delay the progress of bitcoin. But that does not means that bitcoin wont improve from here. So far, it is estimated that about 1% of the world knew about bitcoin and about 5% of these 1%, which is roughly about 5 out of 10,000 people get into bitcoin. And this is increasing throughout the years, so when more people know about bitcoin and even believe in bitcoins, bitcoin price will keep increasing as it is limited supply.

I'm pretty sure the recent setbacks didn't delayed the progress of bitcoin in whatever way, it only delayed the price from increasing further.  I'm pretty sure the developers weren't like, "oh shit China banned exchanges! what are we gonna do now!?". Nope.

Of course it is heading to $25,000. It is heading to trillions, but when is the question. I think that'll happen in 20 years, but the $25,000 I think will happen in 5 years.

Trillions? Come on now, let's be a bit reasonable here. Saying bitcoin's price will reach trillions is a bit too far fetched.

[lite]

$25k in five years, that's realistic. i would be happy to see $25k in five years or so. block reward halving in jun 2020 will be pretty interesting event.

Of course it is heading to $25,000. It is heading to trillions, but when is the question. I think that'll happen in 20 years, but the $25,000 I think will happen in 5 years.

Trillions(per bitcoin) is difficult and probably won't happen.