Bitcoin Growth Predicted To Decline And Stabilise Over Few Months
Bitcoin has witnessed a 1,600% surge since the beginning of the year but those investing in bitcoin futures predict that the growth rate of the cryptocurrency will decline in the coming months. Bitcoin futures, launched in the Cboe Global Markets exchange recently, are legal contracts which allow investors to trade Bitcoin based on a predicted future price.
The XBT futures exchange predicts Bitcoin to trade at $17,760, $18.141 and $18,080 after 1 month, 2 months, and 3 months respectively. If this prediction is to be believed, Bitcoin will only grow $1,300 by February compared to its current price.
On the other hand, some experts believe that Bitcoin might fall in the coming months and the exchange rates predicted by futures investors might only be set at a premium to maintain the high demand.
According to experts, Bitcoin may be in for a pullback, but there's a big chance the price will keep rising in the long run. This will only stop when maximum supply is reached or when mining isn't profitable anymore
Maximum amount of bitcoin which can be mined was somewhat around 21 millon isn't!!
Yep. If I remember correctly, it's expected that all Bitcoins will be mined in 2030. Still a long time :-D
Largest Exchange CME Group (NASDAQ: CME) will begin initial lists of bitcoin futures on December 18.
Bitcoin enthusiasts hope that the launch of bitcoin derivatives will allow institutional investors to invest in the digital currency trend, helping to make bitcoin a legitimate asset class and pave the way for an exchange-traded fund .
Elsewhere in the cryptocurrency business, Bitcoin Cash was at $ 1557, while Bitcoin Gold was at $ 274.11.
Ethereum, the second-largest market-cap currency cryptocurrency after bitcoin, was $ 664.93.