Bitcoin is currently hanging out in limbo — but how low can it go?
Three experts told Express.co.uk yesterday their thoughts on the market leader’s floor. Here’s what they had to say.
$3,000 is an ‘Approximate Market Bottom’
Kevin Murcko, CEO of cryptocurrency exchange CoinMetro, told the daily national middle-market tabloid newspaper that he thinks $3,000 is Bitcoin’s floor. The reason for this is because Bitcoin apparently remains profitable for miners until that price.
However, the exchange CEO also noted that Bitcoin and cryptocurrencies are still lacking in real-world use cases — something which will likely keep the prices down.
The Bottom is In?
While Murcko thinks the price has room to fall, others think we’ve already hit bottom — or close to it.
£10,000 by the End of the Year?
Mike Rymanov, CEO of Digital Securities Exchange (DSX), is bullish. He told Express.co.uk that institutional investment is primed to enter the market — something the cryptocurrency market has been waiting for all year.
Looking ahead, Rymanov thinks a bull market is in the cards.
What do you think about the price of Bitcoin? Is the bottom around $3,000, or has the market leader already seen its now? Let us know your thoughts in the comments below!