Analyst: Expect Bitcoin Price at $3,000 By Year’s EndUnprecedented Bitcoin Volume

Peter Smith, Blockchain’s CEO, told CNBC that Blockchain has experienced unprecedented volume. A £3,000 price by year end is feasible at current price appreciation. Experts cited other factors as well.

The expected approval of the Winklevoss exchange traded fund could deliver a “flood of institutional funds” into the bitcoin market, said Thomas Glucksmann, marketing head at Gatecoin, a cryptocurrency trading platform.

Positive Indicators Rise

Japan recently approved a law deeming digital currencies similar to fiat currency that can be used as methods of payment, bringing credibility to cryptocurrency. Glucksmann agreed a $3,000 bitcoin price by year end is realistic. He said a range of $2,000 to $2,5000 is a safer prediction.

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