The Cryptocurrency Debate: Bitcoin’s Next Spotlight
Businesses around the globe hold their breaths to see the way cryptocurrencies pan out. We at Mobile Signal Boosters have been following Bitcoin's price journey as it experienced extreme turbulence during the last year, witnessing its price go down to £4,590 last September and reach an all-time high of £15,300 by December. Every Bitcoin holder in the world is truly having a hard time sleeping!
Recently, Bitcoin has been enjoying a somewhat stable period, its price averaging £4,970 for a span of 2 months.
Other cryptocurrencies, like Litecoin, Ethereum, Ripple and more have seen some growth directly because of the Bitcoin positioning, but many are still skeptical. In the end, the cryptocurrency phenomenon is nothing more than a concept put into action, and based on the sense of competition that many believe will tire users out someday.
But is another moment of spotlight on hold for the cryptocurrency as we approach Christmas?
Raghav Reggie Jerath, CEO of Gath3r Web Miner took to discuss the roller-coaster journey of Bitcoin and his expectations regarding its future growth path.
He is quoted as saying that Bitcoin has been following a familiar path of growing in price by the end of the year, so it wouldn’t be strange to see the scenario repeat itself this time around, too. The projected price is anticipated to be around £5,735.25 £6,500. Another huge growth though? It’s hard to say, the cryptocurrency market is still pretty unpredictable.
Other professionals in the niche aren’t so optimistic. For instance, Clement Thibault, a senior analyst at Investing.com, holds the belief there will be no spotlight for Bitcoin this year, and the prices will keep close to £4,600$.
The question that remains unanswered here is whether Bitcoin and the large variety of other cryptocurrencies are actually going to be lasting phenomena in the finance market. A large number of people believe that cryptocurrencies are a bubble that is going to explode at some point in the future, while others hold the firm belief that they are the currency of the century, set to replace money in the foreseeable future. The regions that are going to benefit from lasting existence of cryptocurrencies are developing regions which will enjoy personal banking experience with the help of cryptocurrencies enabling safety from government regulation and corruption.
We will be watching the developments close and reporting the changes. Meanwhile, let us know what you think the future of cryptocurrencies is!
