Research: Will Bitcoin reach $ 29 thousand before the end of the year?

A new market study concluded that Bitcoin’s cost could reach about $ 29,000 by the end of the year, and Ethereum’s capitalization could grow even more. The report of South China Morning Post contains a conclusion on the research of the crypto-currency market. During the study, 12 leading digital currencies were studied.

Analysis of the data showed that the market capitalization of Ethereum could grow by 212 percent, while Bitcoin’s capitalization could rise by 194 percent. In third place was Bitcoin Cash with a growth of 123 percent. So by the end of the year Bitcoin’s price can reach $ 29,533, the price of Bitcoin Cash is expected to be $ 2,721, and the price of Ethereum is $ 2,550.

The growth in the cost of Ethereum analysts is associated with the growing demand for ICO, where the main currency for investments in projects is the Ether coin. Co-founder, located in Hong Kong, CryptAM service Kevin Loo (Kevin Loo) believes that Ethereum has a great future. However, like Bitcoin, who has problems with scaling, the airwaves may face a similar problem in the medium term.

He also added the following:

“For example, in November 2017, the Ethereum network collided with the virtual game CryptoKitties, which allows buying and selling toy cats. This application slowed the network and revealed its main vulnerability — the lack of scaling »

Many expect that the problems with the scalability of the Ethereum network will be resolved after the implementation of the Casper update, which is expected this year.