Bytecoin investment analysis

Bytecoin prospects, Bytecoin (BCN) Price Prediction for January 7, by icoane-ortodoxe.com

Is bitcoin's meteoric rise in value now different than the speculative frenzy of late and early ? And where does the price of bitcoin go from here?

bytecoin prospects

Here's what they said: What's different this time round? Many commentators in the industry say the crypto market has matured over the last three years.

bytecoin prospects

Wall Street incumbent Fidelity, for instance, set up a new unit to let its clients invest in digital assets, while PayPal recently started letting its U. And there are now big-name investors putting their bytecoin prospects into bitcoin, including billionaire hedge fund managers Paul Tudor Jones and Stanley Druckenmiller. Crypto fans have compared bitcoin to safe-haven assets like gold, which investors often flock to in times of economic turbulence.

bytecoin prospects

They claim that Covid-related stimulus measures have lessened the appeal of sovereign currencies like the U. Meanwhile, bitcoin bytecoin prospects a key technical event earlier this year called the " halving ," which saw the amount of bitcoins rewarded to the so-called "miners" who add bitcoin transactions to its public ledger get cut in half.

Some analysts say this event has also contributed to the asset's climb in Where does bitcoin go from here?

bytecoin prospects

There are plenty of sky-high predictions for what price bitcoin could zoom to in the near-to-long term. But many crypto enthusiasts agree bitcoin is likely to pass its all-time high soon.

bytecoin prospects

Words of caution? The cryptocurrency has a reputation for extreme volatility.

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Soravis Srinawakoon, CEO and co-founder of crypto software firm Band Protocol, said it "remains to be seen" whether bitcoin can reach new highs by the end of the year. Lior Messika, founder and managing partner of venture capital firm Eden Block, said bitcoin is "plagued with volatility" as it has "neither an established narrative nor an ability to manipulate its proportionality in response to fluctuations in its underlying value.

bytecoin prospects