Bitcoin price to SKYROCKET: Expert has 'no doubt' Bitcoin will reach over $100,000

BITCOIN price is likely to skyrocket to $100,000 and beyond as the cryptocurrency market expands, a technology boss has said.

CEO of Shopin Eran Eyal said he has “no doubt” bitcoin will reach a value of beyond $100,000 in the future.

Mr Eyal said it is important to separate bitcoin from other types of cryptocurrencies such as ethereum or Ripple. He said each cryptocurrency has its own “business model” to differentiate from one another.

Speaking on CNBC, Mr Eyal said: “I have no doubt that bitcoin is going to reach well-beyond $100,000. Have a look at how it has climbed over the past.

“I think it’s important not to just look at it at this moment in time but also to look at it historically at what has happened around the world.

I mean, look in the United States, bitcoin exchanges were shut down three times. What we are seeing here is really government’s taking a knee and taking a moment to understand the ramifications for their specific culture.”

Mr Eyal said all cryptocurrencies are different. He used the example of ethereum and said it is a platform for building "exciting technologies".

He said it is “impossible” to look at bitcoin and ethereum and compare one to the other because “they are not both apples”.

Bitcoin is a cryptocurrency not controlled by a single administrator and can be used to buy things worldwide electronically.

Bitcoin price decreased to $11,727.39 at 10:46am on Monday, January 22, according to CoinDesk. It saw its highest value before Christmas when it reached the monumental price of just under $20,000.

Bitcoin's popularity has caused demand to skyrocket throughout 2017, pushing other cryptocurrencies like Ripple and ethereum to also reap the benefits of the cryptocurrency craze.

Express. Home of the Daily and Sunday Express.express_logo
Find us on Facebook
Follow us on Twitter

LOGINREGISTERAppsPuzzlesHoroscopesShopPaper4°C
HOME
NEWS
SHOWBIZ & TV
SPORT
COMMENT
FINANCE
TRAVEL
ENTERTAINMENT
LIFE & STYLE
CITY & BUSINESSPERSONAL FINANCETHE CRUSADERRETIREMENT
HomeFinanceCity & BusinessBitcoin price to SKYROCKET: Expert has 'no doubt' Bitcoin will reach over $100,000
Bitcoin price CRASH: This is the reason cryptocurrency prices are PLUMMETING
Bitcoin price CRASH: This is the reason cryptocurrency prices…
This Morning presenter breaks down in tears as they announce shock pregnancy
This Morning presenter breaks down in tears as they announce…
Outlander season 4 cast: Claire Fraser's rival Judith Wylie revealed ahead of vicious spat
Outlander season 4 cast: Claire Fraser's rival Judith Wylie…
Samsung Galaxy S8 owners should probably sell their phones before February 25 - Here's why
Samsung Galaxy S8 owners should probably sell their phones…
LIFE AFTER DEATH: ‘NO HEAVEN just infinite sadness, blackness and the knowledge I’m dead’
LIFE AFTER DEATH: ‘NO HEAVEN just infinite sadness, blackness…
sponsored by
City & Business News
Bitcoin price to SKYROCKET: Expert has 'no doubt' Bitcoin will reach over $100,000
BITCOIN price is likely to skyrocket to $100,000 and beyond as the cryptocurrency market expands, a technology boss has said.
By CHARLOTTE DAVIS
PUBLISHED: 09:37, Wed, Jan 24, 2018 | UPDATED: 09:38, Wed, Jan 24, 2018

380

Expert reveals he has ‘no doubt’ bitcoin will reach over $100,000
Play
Mute
0:22
/
1:16

Fullscreen
Facebook
Twitter
Share

CEO of Shopin Eran Eyal said he has “no doubt” bitcoin will reach a value of beyond $100,000 in the future.

Mr Eyal said it is important to separate bitcoin from other types of cryptocurrencies such as ethereum or Ripple. He said each cryptocurrency has its own “business model” to differentiate from one another.

Speaking on CNBC, Mr Eyal said: “I have no doubt that bitcoin is going to reach well-beyond $100,000. Have a look at how it has climbed over the past.

“I think it’s important not to just look at it at this moment in time but also to look at it historically at what has happened around the world.

bitcoin price USD news BTC Ethereum valueGetty•CNBC

Bitcoin price will increase to "well beyond" $100,000 according to CEO Eran Eyal
I have no doubt that bitcoin is going to reach well-beyond $100,000

Eran Eyal

“I mean, look in the United States, bitcoin exchanges were shut down three times. What we are seeing here is really government’s taking a knee and taking a moment to understand the ramifications for their specific culture.”

Mr Eyal said all cryptocurrencies are different. He used the example of ethereum and said it is a platform for building "exciting technologies".

He said it is “impossible” to look at bitcoin and ethereum and compare one to the other because “they are not both apples”.

Bitcoin is a cryptocurrency not controlled by a single administrator and can be used to buy things worldwide electronically.

Revealed: What Bitcoin needs to survive over the next few years
Play Video

Bitcoin price decreased to $11,727.39 at 10:46am on Monday, January 22, according to CoinDesk. It saw its highest value before Christmas when it reached the monumental price of just under $20,000.

Bitcoin's popularity has caused demand to skyrocket throughout 2017, pushing other cryptocurrencies like Ripple and ethereum to also reap the benefits of the cryptocurrency craze.

Everything you need to know about bitcoin
Mon, October 30, 2017
How to buy bitcoin: Everything you need to know about cryptocurrency wallets and bitcoin cash.

PLAY SLIDESHOW
Bitcoin is a new kind of money GETTY IMAGES1 of 13
Bitcoin is a new kind of money
Bitcoin is a new kind of money
Cryptocurrency Bitcoin is the first decentralized digital currency
A sign reading We accept Bitcoins is displayed in a Parisian retail store window in December 2017
Everything you need to know about Bitcoin
Bitcoin prices recently hit a new all-time high, with one unit of the cryptocurrency trading at £4813.32 ($6.345) on Monday October 30
Like all currencies, the price fluctuates according to market conditions, and different brokers can charge different rates and fees
bitcoin wallet
Billionaire business mogul Warren Buffett warned bitcoin and other cryptocurrencies are “certain” to end badly.

Mr Buffet said he is unsure when the cryptocurrencies bubble will burst but he is “certain” it will happen.

He said: “I know this. If I could buy long-term puts. If I could buy a five-year put on every one of the cryptocurrencies – I’d be glad to do it. But I would never short a dime’s worth.

“I think what’s going on will definitely come to a bad ending.”

Bitcoin investors are worried they will be unable to withdraw their cash after cyber-attacks have left some investors money stuck in the system.

There are fears that some of those who have invested in the crypto-currency will struggle to get their cash out after Bitcoin’s value plummeted by 40 percent in a single month.

BitConnect, a coin exchange server, announced that it was shutting down meaning all traders would need to withdraw their money.

However, despite reassurances customers would be able to withdraw at a "recent exchange rate”, those trying to retrieve their investment found they were unable to do so due to continuous cyber-attacks.

News coming from the Davos world economic forum confirms that UBS Chairman Axel Weber, told reporters that bitcoin and other cryptocurrencies were speculative, risky and “not an investment we would advise”.

Weber told CNBC: “Retail clients, who don’t fully understand these products, should be protected from going into these products, because if there is a retail client affected in the future, the question will be again who was the bank that sold them these products and then banks will be blamed again for what has happened."