For the first time ever, Bitcoin has reached the dizzying heights of $4500, quadrupling its price since December 2016.
The naysayers of Bitcoin are coming out of the cracks, with The Next Web talking with CoinDesk, who said: "There's certainly a lot of bullishness about Bitcoin and cryptocurrency, and that's the case with bubbles in general. The psychology of bubbles fuels it. You just become more convinced that it's going to work. And the higher the price goes, the more convinced you become that you're right. But it's not going up because it's going to work. It's going up because of speculation".
TNW said that Peter Schiff, who they call a "longtime opponent to the idea that cryptocurrency has any long-term potential", said that the Bitcoin bubble is "about to burst". Now while it might deflate, I don't think it's going to go down and stay down - and if it does, it should scale back up just like it has done again now, to the heights of $4500.
I think we'll see $10,000 before the end of the year... and there are some who have said we'll see it at $50,000+ in the coming years. What do you think? Let us know in the comments below.
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