Bitcoin is very hot these days, I have predicted Bitcoin to go to around 1000$ in the next 365 days, but it might do it very very soon if this trend keeps up. Now that Segwit is released, new things can pop out like Lightning Networks, Altchains, you name it.

It is an exciting to see the price hit 670 EUR, and going even higher, with this pace it could be 700 EUR pretty soon. I am not sure, but I have an accurate forecasting model that will tell me, but it takes some time to compute it and I have to do it on my other PC, so I will rather do a forecast tomorrow. For now let's just analyze the news.

1) http://qz.com/825519/venezuelans-are-turning-to-bitcoin-as-the-bolivar-crumbles/

More Socialist nightmares from Venezuela, and people looking to save their hyperinflated money in Bitcoin. These people have to eat pidgeons and dogs, but alteast they can save whatever they can in bitcoin so that they will know that that money saved in Bitcoin will buy them food tomorrow, while the national currency is stolen before their eyes.

2) https://twitter.com/cnledger/status/793675026402717698

More miners... I tend to worry a little bit about the miner centralization in China, since they can pull the plug anytime and the bitcoin network remains without hashing power. Seriously western countries should put up some solar farms to create efficient mining. I am not against the Chinese, but it's the Chinese government that is the issue, with their "firewall", and things like that, Bitcoin is still uncertain there.

3) https://bitcointalk.org/index.php?topic=1667946.0

Hmm looks like the government did attempted to shut down Bitcoin at some point, but failed. This should be worrisome. They will fight cryptocurrencies, make no mistake about it.

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Photo Source: https://bitcoinwisdom.com

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