Saxo bank trade bitcoin
But now, Kay Van-Petersen, the analyst behind the call, is looking long term and sees a big rise ahead for bitcoin. Van-Petersen is assuming cryptocurrencies in general — not just bitcoin — will account for 10 percent of the average daily volumes ADV of fiat currency trade in 10 years. This is the ADV that cryptocurrencies could have.
Bitcoin has a limited supply of 21 million which is expected to be reached by the year In 10 years, the analyst saxo bank trade bitcoin that there will be 17 million bitcoin in circulation, up from the current The analyst said that cryptocurrencies will survive in the long run. Bitcoin will be one of those.
And the reason is the first-mover advantage, the scale and the pioneering.
The digital currency has often had an image of being used for illegal means such as buying drugs online. The collapse of Mt. Some members of the exchange are still waiting for compensation. More recent gift bitcoin include some exchanges not allowing people to withdraw their money in fiat currency. Still, Van-Petersen says that the industry is still extremely young and big improvements will come.
A few factors will boost bitcoin adoption including better wallets, easier methods to buy the digital currency, use of it for money transfers in areas like remittances, as well as citizens of countries with volatile economies and currencies buying it. A lot of people talk about the volatility, but if you are in Zimbabwe or Venezuela, this volatility is nothing.
This is the interesting thing to me. While Van-Petersen is offering one way to value bitcoin in the future, others say that there are other factors to take into consideration.
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