I can't belive! Look at this prediction of the great Alex Fortin. It's from the last year but it's so actual.
"Bitcoin has revolutionize the world by being the first decentralized digital currency. Because of this, since 2008, the value of Bitcoin kept rising from a few cents to it’s high of $1000, two years ago. But what affect Bitcoin price?
Lately, his value started climbing again but this time, bitcoin is poised to shatter all past records and his next parabolic move could go in the 5 digits. The world could soon wake up to what could be the biggest financial revolution in history.
This is my list of the top 4 events that will most likely impact the price of bitcoin in the near future.
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This is in my perspective one of the biggest thing that could influence Bitcoin price and adoption. The winkelvoss brother have filed with the SEC to have the first Bitcoin exchange traded fund listed on the BATS.
The new ETF will allow edge funds manager, stock trader or anyone to directly buy bitcoin on the stock market. With one click of a mouse, an edge fund manager could place an order of millions of dollars in bitcoins.
To purchase bitcoin at the moment, someone needs to signup on an exchange, transfer money from their bank account and finally buy bitcoin. Then they need to worry about transfering and storing the bitcoins securely.
Those new Bitcoin funds would make it possible to own bitcoin without having to deal with purchasing and securing it, making it very interesting for investors.
There’s currently two ETF that are working on getting legal approval at the moment.
When they get approved, I predict that the price of bitcoin will go up immediatly. They’re suppose to give an answer before January next year, so there’s only a few months left.
Bitcache-kimdotcom2. Bitcache and Kimdotcom
This new software is bound to make the price of bitcoin rise. Bitcache is a new peer to peer filesharing system created by Kimdotcom, the multi-millionaire who created megaupload. Bitcache will be using Bitcoin to remunerate users who upload and share content.
75% of computer worldwide have at least one illegaly downloaded software. All those people are currently downloading and sharing those files for free. Imagine if they could get paid for doing the same thing. This would obviously skyrocket the usage of Bitcoin in the world and bring it to mainstream usage.
Kimdotcom is one of the biggest promoter of internet freedom. He was the founder of the peer to peer file sharing site megaupload who was closed down in 2012 by the FBI. At his peak, the file sharing website had reportedly 50 millions visitors a day.
I believe Bitcache is one of the biggest project Kimdotcom is working on at the moment. Megaupload was a success and Bitcache is very similar to megaupload beside one major detail. It is decentralize so the government won’t be able to shut it down this time.
Bitcache is schedule to be launch in early 2017. When it comes out, I’ll probably be one of the first to download it.
bitcoin-china3. China and Bitcoin
China exchanges are currently the place where the biggest volume of bitcoins get traded everyday. China host the majority of Bitcoin miner farms(Miners are hardware that secure the network and validate transaction) which makes it a major player in the Bitcoin world.
There’s a huge capital flight out of china at the moment that is driving a real estate bubble in the west-coast of the USA and Canada. The pressure has been easing lately but there is still a massive outflow of money leaving the country. Chinese are afraid to see the Yuan devaluate any further.
When more Chinese will find out that buying Bitcoin is the easiest way to transfer money out of the country, Bitcoin could go in overdrive and we might see one of its biggest bull run in history.
The outflow hasn’t started fully started yet but we should see a rise of interest in bitcoin as more economic unrest shake the country.
1406316930000-07172014-bubble-large4. Global Market
The global market is definitely something i’m watching carefully at the moment. Bubble and burst have kept happening in the economy because of the manipulation of the markets by governments. We are currently in a much bigger bubble than we were in 2008.
After 8 years of keeping the interest rate at zero percent and continuous quantitative easing programs, the US government has led the way to what could be one of the greatest bubble in history. The central bank has effectively no more ammunition left in case of an economic downturn.
Bitcoin has proven itself to be inversly correlated to the market which makes it a great hedge against this artificially inflated market. Bitcoin wasn’t around during the last financial crisis of 2008 but it was still able to climb to impressive high.
When this bubble burst and people wake up with a double digit lost in their retirement funds, they’ll look to put their money in a safe heaven. Bitcoin will be in a prime position to receive this influx of capital and it would be 2013 all over again when Bitcoin rose 10X in just a few months.
Why those events will affect bitcoin price?
There is 21 million bitcoins that will ever be created. Not one bit more, it is written in it’s code. This makes every Bitcoin more valuable as more people enter the market.
The dollar gets printed at an alarming rate and loses value every single year. Even gold or silver suffer the same problem by being mine.
When demand grows for a good and the supply remains linear, the price has to come up, this is basic economics. This is indeed very good for everyone who hold bitcoins.
Has the events I just described unfold, more and more people will start buying, using and trading bitcoin. Because of Bitcoin limited supply, the price will soar as more people start using it, the price increase will attract more people, creating a self-reinforcing loop.
My price prediction for 2017
I’ve wrote a post before called Bitcoin price prediction where I look into the economics behind the price of Bitcoin and what we should expect in the near future.
I think that mass adoption is only a few steps away and this is why I am very bullish on Bitcoin. My prediction is that Bitcoin will pass 1200$ during the beginning of next year. "
Thank you, Alex Fortin!
https://www.alexfortin.com/what-affect-bitcoin-price/
