Published On: Wed, Nov 29th, 2017

Bank of England Deputy Claims Bitcoin ‘Too Small’ to Threaten World Economy

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Bitcoin may have passed the $11,000 mark, but a deputy governor at the Bank of England believes that the cryptocurrency is no threat to the world economy.
The Astronomical Rise of Bitcoin

In the last couple of days, Bitcoin has become one of the most popular topics in the world. As the digital cryptocurrency is surpassed the $11,000 price mark, many analysts and experts are speculating how much further it’s going to grow.
The famous investor and billionaire, Mike Novogratz successfully predicted that Bitcoin would reach as high as $10,000 within 6 weeks. His latest prediction is forecasting Bitcoin’s price to reach $40,000 in the next 13 months. Novogratz isn’t the only investor that sees Bitcoin and the cryptocurrency market to continue growing in the coming years. In a recent article by CNBC, strategist and co-founder of Fundstrat Global Advisors Tom Lee predicted that Bitcoin may even hit the price of $100,000 each once it captures 10-15% of the current gold market:
We think over the next 10 years, this new generation of millennials are going to view trust as a replacement for gold. So, bitcoin is essentially digital gold for another generation.
Many traders and investors believe that …

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