Sandeep Goenka, the co-founder of Zebpay, one of India’s three leading Bitcoin exchanges, believes that Bitcoin price can reach $3,500 by the end of 2017.
Despite a few setbacks, Bitcoin price has maintained a strong rally over the past few months. While Bitcoin is struggling to re-enter the $1,800 region after it experienced a correction on May 11, on a monthly basis Bitcoin price has still managed to record a 30.8 percent surge, increasing from around $1,176 on April 16 to $1,700 on May 16.
After recording a 30 percent monthly increase in value, Bitcoin price has continued to maintain stability in the $1,700 region for around two straight weeks. Such stability in value should be considered as an optimistic outlook on the mid-term growth of Bitcoin price.