The consulting firm Fundstrat has done a fine analysis of the situation and announced that the Bitcoin might reach the $ 64,000 dollar by the end of the year 2019.
A serious study
The company Fundstrat offers regular analysis on the crypto-markets. However, it turns out that these studies are often realistic, and the figures to be far from wacky. According to the experts of this company, the increase in spending by miners of Bitcoins would allow the crypto-currency to see its value increase. And consistently !
Pixabay – MichaelWuensch / The Bitcoin could quickly return to value.
In fact, the Bitcoin could be exchanged between 20 000 and 64 000 by the end of the year 2019. Of the about particularly ambitious, which delighted, of course, the investors. This is Sam Doctor, the director of research, Fundstrat, who has said the following : “We believe that the evolution of the power of hashing can lead to a price of about $ 36,000 for the Bitcoin by the end of the year 2019, in a range of between 20 000 and 64 000. “
An economic logic undeniable
Analysts of the company Fundstrat believe that everything derives from an economic logic. This last depends on the mining of the Bitcoin : in fact, the miners sell their digital assets when its price is low, and they are obviously going to be exchanged for dollars when the trend is bullish.
We believe breakeven mining costs provide a support level for $BTC, as #miners – hand natural #Crypto sellers – reduce selling at low $BTCUSD price. Based on the expected computing hashpower and breakeven cost growth, that could imply #Bitcoin price of $36,000 by 2019 year end. pic.twitter.com/CVwIWNz8Lr
— Sam Doctor (@fundstratQuant) May 10, 2018
It is therefore rather logical, and Sam’s Doctor explains : “We believe that the profitability levels offer a level of support to the BTC, to the extent that the miners – who are the sellers of “natural” of crypto-currencies – to reduce their sales when the price of BTC/USD is low. Based on a projection of the evolution of the power of the hash and the threshold of profitability, we could reach a price of 36 000 $ per Bitcoin by the end of the year 2019. “
In addition, according to the specialist, equipment, blasting more efficient could lead to the emergence of a new investment cycle and accelerate the upward trend of Bitcoin. The future will tell us whether or not he had reason !
Source : NCC