Following a 72-hour period of descension for most cryptocurrencies, assets such Bitcoin, Ethereum, and Bitcoin Cash are showing signs of potential recovery, while Litecoin and Ripple are taking longer to reascend. Bitcoin has undergone a rough-and-tumble period since the weekend.
The currency had incurred several price hikes of $100 or more to bring it to a Sunday total of $9,800. The currency dropped by $300 to $9,500 within 24 hours, then fell to $9,300 and $9,100 respectively during yesterday’s early morning hours. Today, however, the currency has jumped back to the $9,300 mark, and the MIT engineers and Wall Street analysts of Trefis say that based on their interactive Bitcoin Price Estimator, the asset could surpass $15,000 by the end of the year.
The team points to the new Bitcoin futures trading desk from Goldman Sachs as the main reason. Additionally, the MIT engineers say that as more Wall Street players follow suit, mainstream acceptance amongst financial institutions will continue.
Thus, the overall price and value of Bitcoin will undoubtedly spike. In addition, many analysts – like BBC Apprentice winner and Bitcoin investor Mark Wright – disagree with Warren Buffett’s recent criticism of digital assets.
As a longtime opponent of Bitcoin, Buffett has stated he does not hold any cryptocurrency, and that he doesn’t understand how Bitcoin works. He is also “certain” that cryptocurrencies will come to a bad end. Read more from cryptoslate.com…
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