Isaacs outlined the reasons, he still has high hopes for a rally within the mere future, adding:
“There are several drivers behind the recent advancement. There are geopolitical, technological as well as regulatory drivers. The net impact of the ongoing trade war between the U.S. and China has led to a sudden interest in bitcoin as a hedge on investments.”
Draper conjointly reportedly commented on the state of thought adoption trends, with big companies like Microsoft, Amazon, Starbucks and Whole Foods all now accepting payments in ‘cryptocurrencies‘.
Investor Tim Draper ‘thinks‘ that the mainstream thought of adoption can occur within the subsequent few years. Draper goes so far as to claim that BTC will hit $250,000 USD by 2023. While explaining further, he added:
“I suppose when you go to Starbucks to purchase a cup of coffee, and then you pay with dollars, they’ll laugh at you as you’re not using bitcoin or other cryptocurrency […] it’ll be just like the old lady paying out with pennies.”
Analysts at SFOX are even more pessimistic, seeking the outlook for the crypto market “uncertain” and ‘cautioning‘ that bitcoin’s recent growth might be simple FOMO [Fear of Missing Out]. They conjointly pointed to the United State’s ongoing trade war with China as a reason for BTC’s rally last month.
As ‘reported‘ earlier, The University of Notre Dame along with the Pacific Northwest National Laboratory conducted a study regarding the speed and scale of ‘crypto’s‘ discussions on Reddit. The study concluded price and discussion on official subreddits for Bitcoin [BTC], Ethereum [ETH], and Monero [XMR] from Jan. 2015 to Jan. 2018.