After hitting $1,600 on Monday, May 8, 2017, the highest price the Bitcoin has ever recorded; investors now say that the value of the Bitcoin may shoot in the next few months to a whopping $4, 000.
According to one reputable investor, the positive change in the price of the Bitcoin is likely to be influenced by among other things, the underlying technological aspects of the other cryptocurrency, Litecoin.
The Coindesk price index for the Bitcoin as of Monday afternoon in London was at $1, 575.52, but it hit as high as $1, 601.05 on the morning of the same day.
Whether internal or external factors contributed to the small fall in the afternoon, the performance of the Bitcoin since March and April shows that nothing will stop the rise in the value of the Bitcoin in the coming few months.
The fact that most countries are having their peak business transactions during the second half of the year is likely to be another booster to the value of this cryptocurrency.
Coindesk index says that the cost in the price of the Bitcoin has risen by 33% in the last one month alone. Coindesk reports that if the sequence maintained, then the value of this cryptocurrency will rise to greater heights leaving its competitors far much behind.
The value of the Bitcoin is encouraging. There are shocking revelations that seem to be blocking the ‘absolute’ recovery of the cryptocurrency.
For instance, the decision by SEC tat rejected the Bitcoin’s ETF proposed by David Cameron and another Bitcoin enthusiast Tyler Winklevoss is weakening the performance of the cryptocurrency.
It is, however, a relief that the rejection is being reviewed.
Additionally, the question of some exchanges cutting or limiting access to various banking systems is causing a lot of anxiety among interested parties and various stakeholders.
For instance, when Bitfinex decided to deny access to the systems that would make it easy for investors and users to exchange and or withdraw freely, this will hinder the swift performance of the Bitcoin.
While all these may seem to slow down the performance of the coin, last month’s SegWit that involved the litecoin is proving to be more of a ‘ransom’ to the Bitcoin, with some saying that it will now be faster when online bitcoin consumers are making transactions.
GABI Director, Daniel Masters, says that although it might not hit $4, 000 as his colleagues assert, he believes that the Bitcoin’s value may go beyond $3, 000 but that is after a slight pullback in coming days.
