Topic: [2016-09-06] Bitcoin Steadies Above $600, Look For A Move To $1000 Eventually (Read 310 times)
September 06, 2016, 04:55:22 PM
What an article. If you look at things from that point of view, then you can also say 'Bitcoin is ready for a move towards $10,000 at some point in the future'. It's another article written out of boredom.
September 06, 2016, 04:18:07 AM
Many people were unsure about the future of bitcoin after the most recent Bitfinex hack. Now, the price action pushing BTC over $600 yet again confirms to us bitcoin's viability for the immediate future. There is unwavering confidence behind the digital currency now and a clear bid for it at current prices. With the price now heading back in the same direction it was prior to the hack, we believe that confidence in bitcoin is again high and we expect The price of the financial asset to begin an assent to $1000.
Our thesis for bitcoin has been relatively simple from the get-go. We believe blockchain technology is here to stay, as it has been acknowledged by numerous central banks. We think bitcoin has the advantage of being the first mainstream digital currency, so it is going to be the most liquid and most sought after out of all of the digital currencies going forward. We think there is a need for a currency outside of the realm of central banks and we think the limited supply of bitcoin will eventually drive the price significantly higher. We don't have an enormous position in bitcoin, less than 1% of our portfolio allocation at this point, but we believe the potential for exponential gains outweighs the risk involved at this point.
http://seekingalpha.com/article/4004264-bitcoin-steadies-600-look-move-1000-eventually
Our thesis for bitcoin has been relatively simple from the get-go. We believe blockchain technology is here to stay, as it has been acknowledged by numerous central banks. We think bitcoin has the advantage of being the first mainstream digital currency, so it is going to be the most liquid and most sought after out of all of the digital currencies going forward. We think there is a need for a currency outside of the realm of central banks and we think the limited supply of bitcoin will eventually drive the price significantly higher. We don't have an enormous position in bitcoin, less than 1% of our portfolio allocation at this point, but we believe the potential for exponential gains outweighs the risk involved at this point.
http://seekingalpha.com/article/4004264-bitcoin-steadies-600-look-move-1000-eventually
Jump to: