{"id":379524,"date":"2019-04-23T19:00:44","date_gmt":"2019-04-23T19:00:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=379524"},"modified":"2024-06-11T19:24:18","modified_gmt":"2024-06-11T19:24:18","slug":"before-50000-bitcoin-btc-must-be-robust-add-10-1-percent","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/before-50000-bitcoin-btc-must-be-robust-add-10-1-percent\/","title":{"rendered":"Before $50,000, Bitcoin (BTC) Must Be Robust, Add 10.1 Percent"},"content":{"rendered":"
At spot rates, Bitcoin\u2019s overall valuation is far from $1 trillion Chris Burniske projects. While we don\u2019t have the time frames, prices must increase 10X to hit those levels. Even so, this will happen in lock-steps with next targets at $6,000.<\/em><\/p>\n If historical prices are anything to go by, then Bitcoin (BTC) market cap is on its way to $1 trillion. That is according to an analysis by Chris Burniske, a crypto venture capitalist and partner at Placeholder. Basing his observations on past prices, Chris is of the view that in every bull leg, Bitcoin (BTC) market cap increase ten folds.<\/p>\n The first wave in 2016 took its overall valuation to $10 billion, and in 2018, Bitcoin\u2019s market cap peaked at around $100 billion. Since prices are printing series of higher highs bolstered by an upbeat market, the next leg up would, therefore, propel the market cap of the most valuable coin to $1 trillion. At that valuation, BTC would change hands at $50,000.<\/p>\n At spot rates, that is a 10X increment, an attractive proposition for investors who had to contend with a 75 percent drop during last year\u2019s winter. However, for Bitcoin to reach these astronomic valuations, Jeff Sprecher, the chairman of NYSE, believes that the coin must evolve into a perfect store of value with robust infrastructure and a good market structure<\/a> that can handle a surge in demand:<\/p>\n \u201cBitcoin does not have a good market structure. Even for Bitcoin, different markets are posting lots of different prices. And you can pay an up to 6 percent spread to exchange dollars for Bitcoin, meaning Bitcoin needs to rise by as much 6 percent before you break even.\u201d<\/em><\/p><\/blockquote>\n <\/p>\n Up 10.1 percent in the last week adding 4.8 percent in the previous day, Bitcoin (BTC) only lags Binance coin (BNB) up 24.8 percent from last week\u2019s close.<\/p>\nBitcoin Price Analysis<\/h2>\n
Fundamentals<\/h3>\n
Candlestick Arrangement<\/h3>\n