Road To $10,000: How Bitcoin Price Broke $3,000 and What’s Ahead
Bitcoin is the first and always leading cryptocurrency. According to Kumar Gaurav, Founder of Cashaa – Auxesis Group, it had the longest time to successfully establish and mature when compared to any other cryptocurrency.
This success cannot only be seen in the continuous growth over the past years but also in the speed of recovery after so-called “crisis.” The fork has eventually turned out in favor of Bitcoin, with investors dumping Bitcoin Cash, buying more Bitcoin and altcoins, with almost all top 100 cryptocurrencies gaining massively.
Other reasons outlined by Gaurav for his positive outlook towards Bitcoin include the fact that more institutional money is going into Bitcoin, with the price increase in itself attracting more investors.
He tells Cointelegraph:
“There is increasing legal recognition, increasing media attention, a growing usability and acceptance, while the original, political reasons leading to Bitcoin’s popularity are strong as ever. Most recently the EU announcing the possibility for it to freeze bank accounts to prevent banks from failing, reminding of what caused the first ever Bitcoin rally, the Cyprus savings raid.”
Bitcoin will be $10,000 in three years
Gaurav continues by noting that when looking at what Bitcoin has already become during its early years, despite having only a tiny fraction of the population alone supporting it for just some of its many advantages, most important of which is the freedom it brings to people in any troubled system, then we can only imagine how big of an impact we are starting to see now with established institutions and mainstream media finally embracing it.
He also notes that over the past years, Bitcoin price can be seen as a parabolic curve, which sooner or later will take it to over $10,000 in the next three years.