Recently, after the digital coin experienced a plunge, experts told CNBC that the price of cryptocurrency may be a lot higher than last year, and its market value may exceed the one trillion dollar mark. Let's take a look at the related content with Xiaobian.
Bitcoin has seen a sharp decline recently, falling below $6,000 for the first time since mid-November. Last Wednesday, as the cryptocurrency market stabilized, the transaction price was above $7,000.
At the lowest point last Tuesday, the cryptocurrency market totaled more than $550 billion. But insiders saw another gain.
Thomas Glucksmann, head of APAC business development at Gatecoin, a cryptocurrency exchange, told CNBC on Tuesday: "The regulatory approval of cryptocurrency exchanges, the entry of institutional capital and the development of major technologies will help the market rebound and drive cryptocurrencies The price has reached a new high this year."
"We can't think of any other reason why Bitcoin could be pushed up to $50,000 by December."
The technological advances cited by Glucksmann include Bitcoin's so-called Lightning Network, which will use cryptocurrencies to increase very slow transaction speeds.
“A potential appetizer for the bulls, or a catalyst for recovery, will be the release of another cryptocurrency support tool listed on the main exchange. There are several candidates in preparation until we have a cryptocurrency-backed ETF (transaction) The funds traded), this is only a matter of time."
Last year, both CME and CBOE released bitcoin futures products that people could trade. Nasdaq CEO Adena Friedman recently told CNBC that the exchange is "continue to investigate" cryptocurrency futures.
There are no Bitcoin ETFs or exchange traded funds on the market. The ETF tracks the price of an asset and allows people to trade bitcoin without having to buy a digital currency on the exchange. Notable cryptocurrency investors Cameron and Tyler Winklevoss are brothers who founded the Gemini Trust digital currency exchange, which was rejected last year by the ETF application.
"The cryptocurrency is coming to the east"Last year, after many coins rose sharply, the most recent cryptocurrency was sold off. Bitcoin rose nearly 1300%, while Ethereum rose more than 8,000 points and fluctuated more than 32,000%.
Despite the large price increase, some experts believe that this year may be even bigger.
"We believe that the market may continue to rise after February. If it does not exceed the trillion-dollar mark last year, the market will pay more attention to the appropriate market fundamentals before the appropriate encryption winter arrives." Jamie? Jamie Burke CEO Outlier Ventures, a venture capital firm focused on blockchain investments, told CNBC by email on Tuesday.
"Practical Token" wait and seeMany commentators have pointed out that Bitcoin and other cryptocurrencies have no fundamental value. But others believe that as the industry moves forward and develop, digital tokens like Ethereum that can be used to build new blockchain applications will be valuable in the future.
Some companies like IOTA and NEO are trying to create a blockchain platform that developers can build. These applications can be driven by IOTA or NEO tokens. The same is true of Ethereum. Mick Sherman, co-founder and CEO of Hercules Tech, a data science company focused on blockchain and big data, said that these digital coins could see a significant price increase this year.
“Utilities tokens and assets that have a work platform, a blockchain, and a clear reason for their own tokens are more likely to appreciate this year.†Sherman said in an email to CNBC on Tuesday: “Some of these password assets Will not be used for many years, which means they have no practical value."
The CEO warned that many blockchain projects may have to wait a few more years before more bubbles emerge.
Sherman said: "The revolutionary nature of blockchain technology is driving hype, and although we are still a few years away from viable blockchain assets, we may see more bubbles."
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