Philip Nunn said the price of 60 000 dollars is not the limit for Bitcoin. According to CEO Blackmore Group and Wealth Chain Group, a cryptocurrency will break through this level in 2018. It quoted NewsBTC.
Where is the limit of growth of Bitcoin
Your thoughts Nunn announced at the conference, KPMG’s Tech Manchester this Thursday. Businessman still adheres to the January forecasts. We will remind, in the beginning of 2018 Nunn said that the crypt will reach 6000 and $ 60,000 by the end of 2018. As you can see, the first prediction of the analyst’s almost done.
We will soon see $ 6,000 for Bitcoin, isn’t it? My prediction is based on market volatility and investors ‘ expectations.
Nunn also compared the hype over cryptocurrency bubble. Sharp price jumps in Bitcoin he interpreterpath sources of investment.
All the money that is now transferred to the cryptocurrency came into the market from the crowd. So the price of Bitcoin is so dependent on the emotions of inexperienced investors. The flood of bad news can set a strong jolt. The cryptocurrency industry is so small that it is still very easy to manipulate.
CEO Blackmore Group still believes in the innovation of blockchain technology. He called decentralization form the basis of future companies. Philip Nunn previously discussed the possibility of investing large funds in cryptocurrency. Famous investors supported his intentions, but warned that they still have not found a good entry point into the market.
There are no good entry points. If you own the pension Fund with a capital of 5 billion pounds and would like to invest 5 percent of their funds in a cryptocurrency, it is unlikely that your customers will be happy. Volatility is too high to count on risk-free transactions.
A businessman laments the lack of structures that would allow big players to safely invest in the crypt. However, he endorses the plan of action Coinbase and other big companies on the way to this goal.
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