Can Bitcoin Reach Up To $30k In 2019 Financial Year?
So, today we are up on the topic to discuss the Cryptocurrency market whether it is worth investing in bitcoin or not, as many predict it can reach 30k while there is another large mass of critics who thinks exactly the opposite.
With that being said, let us analyze who is with the bitcoin and who is not.
Discussions that lead us to think that bitcoin can reach 30k.
• Of all the networks till date in the market, no system has faced the struggle like Bitcoin says Daniel Worsley, the chief operating officer of LocalCoinSwap. He also adds to it, “It has resisted serious adversaries, and coordinated attacks designed to disrupt its functioning. The fact wouldn’t surprise me at all to see the price above USD 30,000 this year.” According to him with a few more positive comments going on the side of Bitcoin can help it to push past USD 30,000 in the financial year 2k19
• The second reason we choose is given by Jehan Chu co-founder of Kinetic Capital for this massive rise is “a countercyclical argument.” He further added to it, as people are getting dispirited in enterprises like “Uber and Lyft IPOing the market,” people are now “looking for a different type of tech story and one that’s perhaps accessible to all.”
Discussions that lead us to think that bitcoin can’t reach 30k.
• Opposing to Daniel Worsley, a group of critics came up with the argument that Bitcoin is a mania and sooner or later, it has to come to an end when necessity falls in the face growing resources. And when a situation like these will arise, Bitcoin prices could be driven back to $1000.
• There is another event that may cause the downfall for Bitcoin which was explained by Christos Giannikos, professor of finance at Baruch College that for a specific market or price of a particular product in a market solely depend on its elemental value and only expectations alone cannot put it higher up in the place.
So, keeping the facts going for and against the volatility of Cryptocurrency market, including Bitcoin, it will be wise not to become biased and have heavy research done before going forward with Bitcoin.