Is The Price Of Bitcoin Set To Surge In Value Amid Low Supply 2018

According to Bobby Lee, the CEO of BTCC, the price of Bitcoin will skyrocket in the next two years as supply dwindles. His prediction is that scarcity of the crypto-coin in the coming two years will cause its value to surge to new heights.

During an interview with CNBC, Mr. Lee was quoted saying, “We just had a monster of a year in 2017, I think the price went up close to 20 times.” This surge will occur when the supply of new Bitcoin drops to just 9000 coins a day.

According to him, this was in line with how Bitcoin surges in value. This surge occurs about every four years, with the last surge having occurred in 2013. The drop in Bitcoin reward about every four years mainly caused this. With less supply from mining efforts, this usually seemed to have an impact on its value.

According to Lee, only 1,800 Bitcoin were being mined daily. Five years ago, that figure stood at 7200 a day. He predicted that this would go down to about 900 a day in the next two or three years.

He predicted that the value would surge even further in the next five or ten years as the supply plummeted further.

Other Experts Say Bitcoin Is Set To Surge

Another Bitcoin expert, Mr. Bogart, believes that bitcoin would continue to evolve and mature. Eventually, it would become a deep market where major investors could invest. His belief was that as more institutional investors came on board; this would push the price of Bitcoin sky high.

However, he said that institutional investors would be quite cautious. He said that even if they do decide to join the crypto-coin world, they would only start out small, dipping in their toes first. For others, it would be a matter of wait and see. They are going to watch from the sidelines to understand how bitcoin functions.

After the volatility of the past year, Bitcoin has been quite stable in 2018. By January 4, the price had stabilized at around $14,500. Another technology investor Glen Hutchins was not so convinced about Bitcoin. According to him, Bitcoin is just a distraction. For him, what was most interesting was the cryptocurrency ecosystem that was currently evolving. To him, this was more interesting than the dramatic rise and drop in the price of Bitcoin.

According to him, people should be talking about the companies. In his view, anyone could emerge a winner; whether it would be Bitcoin or any other brand.

What is quite clear from everyone interested in Bitcoin is that it will continue to soar. However, so will the entire crypto coin world. Its market cap today is in the hundreds of billions of dollars. This value will only continue to rise as the technology and interest in its use continues to grow. If you have not invested in Bitcoin today, you should consider buying and holding in anticipation of the major price hike in a few years.