These past few week, the Price of BITCOIN is plunged dramatically !
There are many rumors going on about how BITCOIN is going to increase upto $50,000 or more ! I don't know how much they are true.
There was one cryptocurrency expert who said that BTC could see a massive boost of 40 times its current value due to its similarity to gold.
BITCOIN has been dubbed as “digital gold” with US regulators saying the digital currency should be seen as a commodity instead of being compared to actual money.
Tyler Winklevoss, co-founder of Winklevoss Capital, is one of the twin brothers.
Cameron Winklevoss and Tyler Winklevoss.
He branded bitcoin as “gold 2.0” as he said the cryptocurrency could reach a capital appreciation of $7 trillion.
Appearing on Bloomberg News, Mr. Tryler Winklevoss said:
- “The market capital of gold is 7 trillion. In the market capital of bitcoin, let’s say it’s around 100 to 200 billion.
- “We think that bitcoin disrupts gold", he said in an interview.
He also said,
- “It is gold 2.0. So it has an appreciation from anywhere from 100 billion to 7 trillion. So that could be anywhere from like 30 to 40 times from here.”
According to CoinDesk, Bitcoin price increased to $8,258.72 at 08:10am GMT, on Thursday.
And It saw its highest value before Christmas when it reached a monumental price of just under $20,000.
The bitcoin price plummeted down to $6,000 on Monday - dropping its total market value by $67.6 billion in just 24 hours. And it happened right after a series of banks imposed a ban on customers using credit cards to purchase the digital currencies.
Bitcoin's popularity caused demand to skyrocket throughout 2017, in the process other giving birth to other cryptocurrencies like Ripple and ethereum and let them also reap the benefits of the cryptocurrency fair.
So, it looks like we might get an equation, that is