Do you have a specific expertise that you can add to our team? Ed note: end of May update on our Bitcoin price forecast at the bottom of this article. Several readers requested hello bitcoin price to provide our bitcoin price forecast for 2017. Bitcoin is a totally different asset type.
Traditional analysis methods do not applying when trying to forecast the price of bitcoin. The issue with this approach is that those sites only feature bitcoin enthusiasts and entrepreneurs, so they offer a very biased view. However, they are very early stage so they need more data pouring into their platform before they can offer reliable predictions. Traditional financial media, on the other hand, have their classic story telling format.
That is not a useful approach neither for investors. But bitcoin is not a commodity, while gold has been a commodity for thousands of years. Those potential regulatory changes would raise the chances of higher-yielding stocks. 2,000 in 2017 driven by Trump’s spending binge and dollar rally. There is obviously no correlation between the bitcoin price and the dollar or any other regular asset.
Large investors simply don’t pull money out of currencies, stocks or gold in order to buy bitcoins. We believe that a combination of price analysis and fundamental analysis is the most appropriate way to come up with a legitimate bitcoin forecast. Fundamentally, the bitcoin usage data look great: usage of bitcoins keeps on increasing, and that is exactly what it fundamentally is all about. Because of the fact that bitcoin is a form of money, the widening acceptance of bitcoin is the most fundamental data point to consider.
Bitcoin ATMs which increased from 538 in January 2016 to 838 by November. The Bitcoin ATMs located in Europe as of June 2016 constituted 24. 02 percent of the global ATM market share. In other words, fundamentally, the picture for bitcoin looks very good. This is not only a market for speculators anymore, but one of real users. We are confident, based on the objective data set outlined above, that bitcoin’s price rise is not only legitimate, but will continue.