Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: mskumar on May 12, 2018, 12:11:34 PM
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Fundstrat Global, a favorite research firm in the cryptosphere with Wall Street-street cred, is once again providing eye-popping bitcoin (BTC) predictions. This time analysis depends largely on what’s known as the mining economy. Hash power and hardware advancement all combine to show a possible $36,000 BTC price by the end of next year, they claim.
Fundstrat Continues Moon Price Predictions
Fundstrat’s head of data research, Sam Doctor, explained, “The release of the next generation of rig hardware should trigger a new round of capex as well as hash power growth, which could accelerate if BTC price appreciates.”
Capex is short for capital expenditure, and refers here to upgrades in technology such as mining rigs. Hash power growth can be thought of as cryptocurrencies such as bitcoin using proof of work, relying on a unit of measure basically recording power consumed by the network to keep it humming along, in this case, roughly every ten minutes a block is found or generated.
SOURCE:https://altcointoday.com/bitcoin-moons-to-36000-by-end-of-2019-according-to-fundstrat/ (https://altcointoday.com/bitcoin-moons-to-36000-by-end-of-2019-according-to-fundstrat/)
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It is quite a done down for the time people were predicting Bitcoin's price to cross $100k and $1 million. The tempering of expectations of even the most strongest bulls has been caused by the crash in the first few months of 2018. I don't think developments in mining will trigger a bull rally.