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Crypto is filling an economic vacuum said CEO of ADVFN
Editorial Team

The Chief Executive Officer of financial markets website ADVFN, Clem Chambers, has recently stated that it is likely for Bitcoin to climb back to its all-time high, and potentially hit $100,000 in the future.

Spiking to tabloid news outlet Express at the CryptoCompare MJAC Blockchain Summit in London, Chambers stated:

“The Blockchain will be the way of the future which will be like the internet was to the generation before. Bitcoin will probably be part of that future in the long term. Will bitcoin go back over from its previous high? It will probably hit $2,000 before it hits $20,000. But will it hit $20,000? I think so. Will it hit $100,000? I think that’s quite likely.”

At press time, Bitcoin is trading at $6669.13, up 1.14% in the last 24-hour period.

While different analyst doubt about the $100,000 price predictions, various bullish signs have recently emerged for the cryptocurrency, including the increase in trading volumes and a rise in anxiety related to a potential trade war between the US and China.

According to cryptovest.com, Chamber’s bullish case noted that crypto is filling a vacuum in the financial world and “will generate an economic lift.” Chamber stated:

“There’s a shortage of actual money in the world. That’s what people, I don’t think, have worked out. They are not creating enough money to make the world go around. The cryptocurrencies are filling that vacuum. Because that’s an economic suction going on there and the cryptocurrencies are filling that vacuum.”

According to a previous article of the site, the co-founder of popular cryptocurrency exchange BitMEX has restated that he sees the flagship cryptocurrency hit $50,000 by the end of the year too.

Also, the Wall Street analyst Tom Lee maintained a $25,000 price prediction for months. Despite his wrong prediction for a surge after this year’s Consensus Conference, he remained bullish as the cryptocurrency’s price has “historically traded at two and a half times its mining cost.”

 

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