• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

UK Bank says Bitcoin Rise was “Viral” but Bulls Predict new Highs in 2018

newsbtc by newsbtc
3 years ago
in Bitcoin
Reading Time: 2min read
virus
Advertisement

A recent story in the Independent compared Bitcoin’s price surge in late 2017 to an “infection”, going on to say that it’s low, seemingly stagnate, value is a result of that infection being treated and will serve as the new norm.

Barclays say Bitcoin has Acted Like a Disease

The price of Bitcoin has been fluctuating around the $7000 mark, falling from a 2018 high of $11,500 in March and it’s all-time high of around $20,000 in December of 2017. Some experts at Barclays are warning that it might not come back up.

The Independent reported that analysts at UK’s Barclays Bank created a model in order to examine the rise and fall of Bitcoins value on the market. The end result of the experiment was that the price of Bitcoin charted like a viral disease that has now been treated.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Barclays’ economists explained their methodology saying  “We developed a theoretical model of an asset price with a pool of speculative investors and compared it with actual bitcoin price behavior to see what it might imply for the future dynamics”

The conclusion of the experiment as reported by Barclays was that “The model has clear parallels with compartmental models of the spread of an infectious disease in epidemiology.”

From this model the analysts have extrapolated that Bitcoin will continue on the “downward spiral” it’s been on since the beginning of the year while at the same time hesitating to predict it will fall below $6,000.

Bulls Aren’t Buying Viral Explanation

The Independent article balances Barclays’ prediction by including the more bullish predictions of former COO for Skype Micheal Jackson who sees a very different future for Bitcoin.

The Independent quoted Jackson as saying that the recent price stagnation of Bitcoin “will appear trivial” by the end of the year. He went on to explain that,

“The price has been driven by speculators and they suddenly got cold feet but there’s considerable effort going on behind the scenes, including new underlying technology that is powering faster transactions,”

Jackson speculated that the increase of regulation will ease consumer risk and optimistically predicted: “I see no reason why bitcoin shouldn’t fulfill its dream.”

Meanwhile, Funstrat’s expert analyst Tom Lee has linked the stagnated price of Bitcoin to the looming April 17 tax date in the US. Lee notes that US investors in cryptocurrency owe an estimated $25 billion in capital gains tax.

Lee told CNBC recently that although the cryptocurrency market has lost some fifty percent of its value in the first quarter of 2018 those who capitalized on its meteoric rise in 2017 now owe taxes on their profits.

According to Lee, “historical estimates are each $1 of USD outflow is $20-$25 impact on crypto market value.” Ever bullish Lee concludes that “[u]ltimately, we expect Bitcoin to find footing after April [17], tax day.”

 

Image from Shutterstock
Tags: barclaysbitcoin predictionBitcoin price analysisTom Leevirus
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

bitcoin collateral

Summing Up The Case For Bitcoin As The Future Of Collateral

3 hours ago
Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

15 hours ago
bitcoin btc

Bizarre Bitcoin On-Chain Correlation With Fear And Greed Index Discovered

1 day ago
Bitcoin Makes a Go at $40,000 amid “Risk-Off” Trade

Bitcoin Makes a Go at $40,000 amid “Risk-Off” Trade

2 days ago
bitcoin crime

Iconic Trader Warns Bitcoin Holders Of Executive Order Banning Gold

2 days ago
Bitcoin Drops After Record-Setting Rally; Is Bearish Bias Returning?

Bitcoin Drops After Record-Setting Rally; Is Bearish Bias Returning?

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.