As 2016 draws to a close, bitcoin prices conk along to present strong, upward movement.
Depending on the media outlet y'all prefer, bitcoin is either "storming", "surging" or "bitcoin prices volition achieve $1,000 presently enough, according to cryptocurrency hedge fund managing director Tim Enneking, who told CoinDesk he expects the digital currency volition kickoff out 2017 at this price. Enneking emphasized the importance of a "Santa Claus Rally" inward 2016, pregnant bitcoin's gains earlier together with subsequently Christmas.
Arthur Hayes, co-founder together with CEO of telephone substitution firm BitMEX, provided an around identical prediction "I am calling for $1,000 to endure breached past times the 31st of Dec 2016. The toll corrected to $860 together with was dorsum inward a higher house $900 inward i day. That is a really well for y'all pullback," he told CoinDesk, adding:
"We volition brand a piece of job for $1,000 earlier twelvemonth end."
In an opinion piece issued yesterday, investor Vinny Lingham suggested the same, stopping curt of whatsoever year-end toll predictions exactly issuing a rosy 2017 projection.
"I expression to endure within the $3,000 arrive at past times the terminate of side past times side year, equally I accept previously forecast," he wrote.
Caution noted
Still, non everyone was convinced they could brand a call.
Cryptocurrency fund trader Jacob Eliosoff emphasized that he believes the bitcoin together with ether markets are probable to correlate through the year's end. While he acknowledged bitcoin is probable to overstep $1,000, he didn't dominion out that to a greater extent than or less other cryptocurrency could attract attending through stronger gains. In particular, he suggested a potent ascent inward long struggling ether prices, equally an example, may endure plenty to displace the market's attending elsewhere.
Further, he emphasized that "no i should bet likewise much on timed predictions" when it comes to cryptocurrencies.
