Will Bitcoin reach $6000? Here are the opinions of industry experts

Reaching its historical peak with $5856, will Bitcoin be able to reach $6000? Industry experts speaking to CoinTelegraph believe it will happen.

Stating that the increase in Bitcoin price is directly related to the increase in Bitcoin’s liquidity, Luis Cuende, co-founder of Aragon, said:

“ I think the rise in Bitcoin price reflects the excitement people have that Bitcoin will enable more scalability for instant payments by creating new solutions like SegWit.”

Not everyone thinks Bitcoin is a good choice for cash , especially since prices fluctuate so quickly and intensely… Yet in countries like Argentina where currencies are pretty worthless, Bitcoin may be the only option. Sweetbridge’s David Handerson explains:

“When we look at the price history of Bitcoin, we see that the fluctuations are quite large and frequent compared to the fiat currencies, but nevertheless, Bitcoin, the local currency is excessively controlled, can provide an alternative in countries where it is restricted and subject to high inflation. This can continue to increase the value of Bitcoin.”

‘It will rise well above $6000 in the long run’

SVP’s Business Development Manager Yonatan Sela said: :

“The rise in Bitcoin price is not surprising. I think the volatility in prices will continue and Bitcoin will rise well above $6000 in the long run.”

‘Unfriendly criticism strengthens’

DataWallet’s founder and CEO ‘s Serafin Lion Engel said:

“The hostile comments from people like Jamie Dimon who take advantage of the existing centralized system add to the strength of the Bitcoin ecosystem. This way, more and more people are hearing about Bitcoin, and more and more people are adopting it as the benefits on the financial system are so obvious.”

Many industry experts, however, argue that Bitcoin’s power is simply says it lies not only in its technology but also in its longevity.. The community is believed to rely on Bitcoin as the oldest and most stable digital currency.

‘Not yet mainstream’

Although it has had a massive price increase over the past few days Bitcoin’s value may see significant volatility. Even if Bitcoin rises to $6000, a new drop in price may be seen, just like the first touch of the $5000 level.. Also, negative news can cause some uneasiness.. Leverj CEO Bharath Rao’s comments were as follows:

“We don’t think Bitcoin is widespread yet. In addition, we believe it will continue to grow in value as it becomes more used in the financial world.”

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