coinspectator - 8/10/2018 4:55:22 PM - GMT (+0 )
Chris Burniske, venture capitalist and author of a book on cryptocurrency investing, compared the current nine-month slump in bitcoin’s price to its price trajectory between the end of 2013 and beginning of 2015, a 14-month period during which there was a similar downward slide. Economist and crypto investor Tuur Demeester has also forecast a bear market for cryptocurrencies through the end of this year. Some consider the ratio, which measures bitcoin’s network effects through the number of transactions on its blockchain, as an indicator of the cryptocurrency’s price.
Thus, a high NVM translates to high prices for bitcoin. Lee has forecast a price target of $25,000 for bitcoin by the end of this year. According to him, miner profitability, which declines with low prices, will drive bitcoin’s price upwards by the end of this year. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full