The cryptocurrencies already wins 300% in 2017 and extends its influence on the markets.
At the beginning of the year, Bitcoin was worth $1,000, on August 16, it was worth more than 4,300. And it may not be over. According to Thomas J. Lee, at Fundstrat GA, his course could reach $6,000 within a year. It considers that the number of users of this cryptocurrencies could increase by 50% and that its use could grow by 30%. In his view, each increase of 10% in the number of users results in an increase in the value of Bitcoin by $222 and each increase of 10% of the activity adds $274 to its course.
It is not the one to bet on a continuation of the outbreak of the bitcoin. According to Bloomberg, John Spallanzani (GFI Group) table also on a course of 6,000 dollars when Ronnie Moas (Standpoint Research) aims the 7,500 dollars in 2018. Reasons to believe? The increased adoption by the public so the improvement of trading platforms, but also its use and its acceptance by institutional investors as a class of assets.
For Francisco Blanch at Bank of America Merrill Lynch, cryptocurrencies performance should depend on especially of faith given by individuals, companies and financial institutions, in this emerging technology. "He also sees them an advantage in terms of diversification: "their correlation to stocks, bonds, raw or the foreign exchange market is close to zero." Knowing that, if these currencies "are still very volatile and not particularly safe, This could change while their value and liquidity are increasing. "
What are the institutions for? It may take a while, but bitcoins extend its area of influence every day. The Japanese financial services group IFCS has thus experienced the sale of bonds denominated in bitcoins, while Japan has just recognized the virtual currencies as legal means of payment. "One of the objectives was to see the potential of these obligations to become a useful tool for raising funds," the group explains. For his part, Lewis fellas, a former fund manager at Harvard University, is preparing, according to Bloomberg, to launch a hedge fund to invest in these Internet currencies.
You can also read : Where to buy a cryptocurrencies ? Bitcoin, Ethereum, ZCash, Ripple
A planned "update"
Short term, an appointment could however slow the surge of the bitcoin. In November, the virtual currency will be groomed so can increase the size of the blocks generated by bitcoin miners, and to double the capacity of transactions and reduce the congestion of the system. The 'update' does not unanimous in the community. Will it generate a new schism in the image of the creation of the bitcoin cash (BCH), August 1? While the bitcoin has lost 10 percent in four days, the BCH just went from 300 to 679 dollars, with a sharp rise in transaction volumes.
Among the disappointed, the investor Roy Samson, who sold in the spring the 17,000 bitcoins that he owned. According to him, bitcoin, on which he invested since 2011, would have become, "like the other cryptocurrencies, the expression of an obsession fueled by a speculations fervor." Will king Bitcoin waver on his throne? . A Goldman Sachs analyst warned his clients that bitcoin could erase up to 40% of its earnings when it reached the $4,827 threshold.
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