World’s most popular cryptocurrency, Bitcoin has dipped by almost 30% for less than a week. As early as last Wednesday, November 8, 2017, its price was record $7882 per unit, but already by Friday, it significantly drew down, and only for the weekend it fell by almost 10%.
Bitcoin price drop can be caused by growing attention to other cryptocurrencies, in particular, Bitcoin Cash, which becomes popular very fast. Its quotes were rising since Wednesday, surged up 40% and reached another high, $2478. However, on Monday morning, Bitcoin Cash price drew down to $1325.
According to Standpoint Research founder, Ronnie Moas, Bitcoin won’t lose market demand, on the contrary, it will show a phenomenal growth within next ten years. According to him, the cryptocurrency price will grow up to $50,000. Moas explains that there will be more than 200 million of Bitcoin owners all over the world, and each of them will try to buy a few millions of coins. As Bitcoin issuance is limited by 21 million of coins, such high demand will definitely cause the lack of the asset and, consequently, increase in its price.