Investment Firm ‘Bitcoin Will Rise Another 70%’ And ‘Has Few Obstacles’
My guide, how to buy Bitcoin, has never been more popular as it is today. And rightfully so. The digital currency is continuing to soar against all odds. But now, have the hurdles been cleared to allow Bitcoin to take off like a rocket ship? According to one prominent research company, that’s exactly what’s set to happen over the course of the holidays. The founder of Standpoint Research, Ronnie Moas, wrote a report for clients this morning explaining his reasoning. One of his reasons is that Moss feels Bitcoin’s resilience has strengthened and proved its worth, having tackled a few unruly and rocky foes.
“There have been many positive developments during the last five months and a few of the obstacles that were in Bitcoin’s way have been knocked down,” he said in the report, according to CNBC.
“An argument can be made that the good news is still not fully reflected in the current price.”
Moas noted that CME Future notes will infuse even more cash into the Bitcoin system. The issuing of Futures is larger than what many people seem to understand at this juncture. Let’s just say that a Future is issued for 10k. It is likely this will cause a massive surge in Bitcoin Future note purchasing due to Bitcoin’s proven track record of trending high. If a note is issued at $10k, and Bitcoin hits $11k at the maturity date, the buyer of the note profited $1k. Even if this is a gamble, which most Future notes are anyways, this is one of the more enticing gambles on Wall Street in some time.
The price of Bitcoin hit $8,245 this morning. It’s continuing to stay beyond the $8k line. Now investors are feeling a sense of confidence over Wall Street’s acceptance of Bitcoin combined with its proven track record of resilience. With Future notes to be issued around the holiday season, there is huge chance that Bitcoin will smash through $10k with relative ease. The more mainstream Bitcoin becomes, the more it absorbs financial infusions from mainstream investors. Prior to Bitcoin breaking $8k, it was being carried mostly by fringe investors who are betting on digital currency in the face of a great deal of Wall Street chastising.
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Very few people are invested in Bitcoin, even if the hype makes it seems as though they are. Bitcoin is surging beyond $8k and it hasn’t even slightly breached the world of mainstream investing acceptance. If and when it does, a meteoric rise is almost certain to happen.
The coup in Zimbabwe has contributed to Bitcoin’s rise
Over the weekend, Zimbabwe military achieved a coup d’état and ousted long-time President Robert Mugabe. This was a huge contributor to Bitcoin’s price escalation over the weekend. According to Golix, the Zimbabwean exchange, Bitcoin is worth $13,499 per digital coin. This is the highest in the world. And this is lending credence to the idea that Bitcoin is a currency which supports revolutionary acts. It could be the difference between a nation that’s freed from a tyrant being starved or having means.
Bitcoin is a digital currency which, due to blockchain technology, can’t be manipulated. Fiat currency, such as the United States dollar, has a centralized control center which can choose to print (or stop printing) the paper currency. This contributes to an ongoing and endless manipulation of world economies. Bitcoin is manipulation-proof. And this has, of course, irritated global banking entities who’d rather not see their power suffocated.
In the case of Zimbabwe, Bitcoin further threatens autocratic and tyrannical governments that might choose to use currency as a way to prevent revolution.
Bitcoin for beginners is becoming more and more a solid play, even in the face of remaining mainstream criticisms.
Author: Jim Satney
PrepForThat’s Editor and lead writer for political, survival, and weather categories.
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