Bitcoin has broken another record, this time crossing the $12,000 mark, and shows no sign of slowing down yet.
The cryptocurrency is reported to have crossed $12,000 a few hours ago and at the time of writing is now sitting at $12,573. This news follows a wave of price records that bitcoin has broken over the last few weeks, rapidly moving from $7,000 up to $10,000 in no time at all. However, a number of experts in finance who have been asked what they think the future of bitcoin will be have set estimates that make $12,000 seem like nothing.
The Merkle interviewed a number of experts, none of them said the future price of bitcoin would be lower than $25,000. Lots of even bolder claims were also made by the interviewed experts. Such as: the bitcoin market cap will erode gold and even sovereign wealth bonds, that it will reach six figures by 2020, and that it is as big a thing as the World Wide Web was in 1995. Referring to the fact that the cryptocurrency can be purchased to hold value if a national currency has a crash, one of the experts, John Mullin, referred to it as "the millennials" version of gold."
Even though the cryptocurrency is on a record-breaking streak, with people considering mining it in their cars, there are still other experts who offer completely different opinions to the ones above. They say that this will end horribly and that the bitcoin bubble is just waiting to burst. In fact, there is even an app called Bitcoin Bubble Burst, that uses machine learning and will tell you when the burst has come so you can tell all your friends "I told you so!".
However, until we get that update, it appears bitcoin is still on its winning streak.
Source: Business Insider, and The Merkle |Image via Business Insider