[2017-10-20] Bitcoin is heading to $10,000, CNBC survey says

[moriskarlov]

- The price of bitcoin could be heading to over $10,000, nearly half of respondents to a CNBC survey said
- Just over a third agreed with JPMorgan Chase CEO Jamie Dimon who said "you'll pay the price" for investing in bitcoin
- Sixteen percent of the 23,118 people who voted said bitcoin will hit between $6,000 and $8,000


The price of bitcoin could be heading to over $10,000, nearly half of respondents to a CNBC survey said.

During the week, CNBC ran an unscientific survey online asking: "Where does bitcoin go from here?"

Forty-nine percent of the 23,118 people who voted said above $10,000. Similar calls have been made by market participants. Former hedge fund manager Michael Novogratz told CNBC in a recent interview that he sees bitcoin heading to $10,000 in the next six to 10 months.

One option that people could also vote for was: "Jamie Dimon is correct, you'll pay the price for buying." JPMorgan Chase CEO Dimon has been critical of bitcoin, calling it a "fraud" and said "if you're stupid enough to buy it, you'll pay the price for it one day." Just over a third (35 percent) of people sided with Dimon.

And 16 percent of respondents went with the final option of bitcoin heading to between $6,000 and $8,000.




The cryptocurrency has risen over 470 percent this year. Earlier this month, bitcoin hit an all-time high of $5,856.10, according to data from industry website CoinDesk. So it's not far off the $6,000 mark.

Rising institutional investor interest, favorable regulation in some markets like Japan, and an upcoming split in bitcoin known as a "fork," have helped to boost the price.

But the cryptocurrency has also had a lot of criticism. UBS said in a recent note that bitcoin is a "speculative bubble" and unlikely to be come a real currency, while Goldman Sachs said the cryptocurrency is not the new gold.

https://www.cnbc.com/2017/10/20/bitcoin-price-is-heading-to-10000-cnbc-survey-says.html

[iamTom123]

Slowly but surely, people are now realizing the power of cryptocurrency through Bitcoin and what is surprising is that many people are having a better understanding of cryptocurrency compared to Mr. Jamie Dimon. With this confidence exhibited by those people surveyed, I am now sure that Bitcoin is here to stay...and that alone would be annoying to many gatekeepers like Dimon. And so we should be expecting CEOs of many financial firms to be defending their turfs from possible threats...and to them Bitcoin is a big threat that must be dealt with. However, am predicting that sooner or later they would realize their mistake and they would eventually be joining the Bitcoin bandwagon albeit secretly.