Bitcoin will target $ 25,000 despite the recent failures
Bitcoin's value can now be compared to that of gold, as it will likely reach $ 25,000 over the next five years, according to Tom Lee, who is former JP Morgan Chase Managing Director. He shared this in his recent CNBC program "Fast Money".
Although Bitcoin's price dropped dramatically after the news coming from countries like China on the ban on ICO coins and the upcoming Bitcoin interdiction ban by the end of the month, Lee believes the situation still has advantages. According to Lee, there are two factors - the liquidity effect and the prospect of people. According to him, Chinese exchanges work with 30% of Bitcoin's value. It is important to note that the crypto-points for the seventh time suffered such a downturn.
The second factor is the perspective of the people. Our society tends to see Bitcoin as a balloon and fragile currency.
Bitcoin differs from other technologies, so the network itself creates value. Bitcoin will be as valuable as the Blockchain network itself.
According to Lee, fraud transactions cannot happen on this digital currency, as it would cost about $ 30 billion to create a fake Bitcoin. The Blockchain Network is very secure.
"I think financial institutions can be threatened with Bitcoin's network credibility."
Bitcoin is still the best technology framework today
Investing in gold is worth it. Can not measure the value in the future at a glance, but needs a full market analysis. Still, gold still promises a positive and valuable result.
image source - Instagram
“Never be afraid to raise your voice for honesty and truth and compassion against injustice and lying and greed. If people all over the world...would do this, it would change the earth.”
― William Faulkner
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