As an argument in favor of his theory, Chambers notes the heightened interest of Chinese investors in the cryptocurrency industry. This is also evidenced by the growth of steblcoin Tether in relation to the Chinese yuan on over-the-counter platforms.

All last year I said that Bitcoin would fall to $ 2,500. As a result, his quotes stopped at $ 3,000. Now he started to grow and I think his first goal is $ 6,000, and then $ 10,000,” he said interview forbes. “At the moment, we can safely say that the cryptocurrency winter is over. Here is my forecast.

 

The money that goes into steyblokos will be an impetus for the growth of Bitcoin, because the flow of funds has a positive effect on the entire cryptocurrency ecosystem,” the expert explained.

Advertisements

Chambers touched on the topic of mining new coins. He said that if new units in the Bitcoin network are mined every 10 minutes, then to maintain the price of the first cryptocurrency, you need to invest $ 9 million daily. And this is on condition that all miners will sell the mined coins. However, many people prefer to “go away” most, so the real amount invested in Bitcoin funds is even lower.

This figure may initially seem large, but compare it with gold mining. To keep the price of this precious metal at $ 1,300 per ounce, you need to invest $ 140 billion a day, ”Chambers says.

Gold is the main tool for hedging risks, so it is obvious that its capitalization of $ 5 trillion is much higher than the capitalization of Bitcoin, which is $ 90 billion. to gold, at least in the USA.

Although if you pay attention to data all over the world, the situation is not that simple.

Chambers says that if Bitcoin takes at least 20% of the gold market, it will reach its previous maximum of $ 20,000.

Cryptocurrency winter is over, the price is gradually increasing. The only question is how high she will manage to climb. At the moment, $ 6,000 is an easy target, $ 10,000 is also not particularly difficult. Personally, I’m still increasing my position, ”said Chambers.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0
Zorain Zubair
Zorain is co-founder of TechLapse. Based in Pakistan, Zorain is currently studying Business Management and aims to achieve the title of Chartered Accountant. Zorain loves writing about various technology news. He can be reached at: [email protected]

You may also like

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in:Crypto