Go to ...

Economics Gazette

Economy and Business news

RSS Feed

October 21, 2019

Analysts expect significant increase in the value of Bitcoin Cash

bitcoin cashAnalysts expect significant increase in the value of Bitcoin Cash and a decline in the Ether, according to report titled “CryptoLoulutes: Past, Present and Future”. In the analysis, the experts used historical data and algorithm to predict that Bitcoin Cash could reach 2,000 USD by May 2018, which reporesents an increase of 130%.

The survey is less optimistic about the future cost of the Ether, with the expectation that it will depreciate by more than 237 USD during the next month. The Ether lost 47.22% of the value so far this month, valuing at about 459 USD, well ahead of its peak in December of 1,338.67 USD.

The collapse of the Ether is not surprising. The digital money are currently threatened by regulations and constant warnings about their inherent high volatility, which easily frightens people and prevents them from investing. This all keeps the cryptocurrencies under pressure.

Upon its creation, the Ether is considered one of a few direct competitors of the Bitcoin. The report, however, states that, with so many cryptocurrencies, the investors require ever more distinctive and unique features than ever before, and it is becoming more and more difficult to distinguish one virtual currency from another.

During a recent Tokyo event called “Satoshi’s Vision Conference”, the CEO of Bitcoin.com, Roger Ver, told the audience that Bitcoin Cash could increase economic freedom globally.

In December last year, the self-proclaimed creator of the Bitcoin, Australian entrepreneur Craig Steven Wright, predicted that 2018 would be the year of Bitcoin Cash, writing on Twitter: “2018 is the year that we will see the full potential of Bitcoin Cash – there will be more security and there will be no limits to what we can achieve”.

Leave a Reply

Your email address will not be published. Required fields are marked *