The Practice of Predicting the Bitcoin’s Price.
There are many investors and economists who have tried to predict the price value of bitcoin over the years. Some of them have managed to be responsive to the subject according to their predictions, while others have been very out of aim.
The chairman and chief behavioral strategist at macroeconomic research firm Lamoureux & Co. Yves Lamoureux recently predicted that Bitcoin would catapult at least $ 25,000 or more.
According to economist Yves Lamoureux, Bitcoin is on its way to take off into the territory of the bubble. Lamoureux claims that it predicts a “final goal of $ 25,000 or more” with respect to the price value of Bitcoin. Yves Lamoureux thinks that people are beginning to look at the cryptoneon for the same reasons that people buy gold.
“One of the reasons people buy gold is to avoid the dilution of fiat money,” explains Lamoureux. He explains that for this reason they are convinced that digital money or cryptocurrencies will eventually find its appeal with hard asset investors.
Lamoureux explains that when gold was quoted at $ 300, proponents struggled to get media coverage. It details that the gold market plays through many decades, in many cycles. “And as blockchain becomes more ubiquitous, it lends credibility to the technology behind bitcoin. We feel that digital currencies, such as bitcoin, have now entered a similar cycle,” concludes Lamoureux.
Just a week ago the Emerita Capital firm suggested that Bitcoin’s price could rise to more than $ 3600 if a Bitcoin ETF is approved by the SEC. In December 2016, Vinny Lingham, a South African businessman, predicted that the price of bitcoin would reach $ 800 and increase to $ 900s fairly quickly. Such a prediction came true, as many of his predictions have done.
According to the Harvard Business Review, forecasting takes practice. “The top-performing ‘super forecasters’ were consistently more accurate, and only became more so over time,” explains the Review. “A big part of that seems to be that they practiced more, making more predictions.”
Predictions will always be a favorite pastime for humans to enjoy. It is no different when discussing the value of bitcoin in the years to come. Many will also try to forecast bitcoin’s death, as they have in the past…over and over again.
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