The bitcoin price is set to reach $10,000 in the next three years, according to an industry insider. The cryptocurrency has posted strong gains over the past few days, reaching new highs, despite a hard fork that led to a split of its blockchain.
In comments for The Cointelegraph, Kumar Gaurav, founder of Indian blockchain company Cashaa - Auxesis Group, highlighted the resilience the cryptocurrency had demonstrated in the wake of the separation. He also noted that more institutional money was going into bitcoin, with the price rise attracting more investors.
“There is increasing legal recognition, increasing media attention, a growing usability and acceptance, while the original, political reasons leading to Bitcoin's popularity are strong as ever,” Gaurav said, as quoted by The Cointelegraph. “Most recently the EU announcing the possibility for it to freeze bank accounts to prevent banks from failing, reminding of what caused the first ever Bitcoin rally, the Cyprus savings raid.”
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