{"id":18026,"date":"2018-08-17T12:34:40","date_gmt":"2018-08-17T11:34:40","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=18026"},"modified":"2018-08-17T12:36:34","modified_gmt":"2018-08-17T11:36:34","slug":"bitcoin-price-will-hold-at-6000-before-reaching-15000-by-christmas-says-coincorner-co-founder","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/bitcoin-price-will-hold-at-6000-before-reaching-15000-by-christmas-says-coincorner-co-founder\/","title":{"rendered":"Bitcoin Price Will Hold at $6,000 Before Reaching $15,000 by Christmas, Says CoinCorner Co-founder"},"content":{"rendered":"
Despite the recent price struggles of Bitcoin and the rest of the cryptocurrency market, some enthusiasts still hold hope of a significant rally before the end of the year. Elsewhere, the rising BTC hashrate is beginning to force sweeping reactions in the mining ecosystem.<\/p>\n
Danny Scott, a co-founder of CoinCorner, an Isle of Man-based Bitcoin exchange platform, believes that the top-ranked cryptocurrency will end the year on a strong note. Speaking to Express.co.uk<\/em>, Scott said<\/a>:<\/p>\n For the last few months, the price of Bitcoin has been at $6,000 which we believe will continue for a while, but we predict the price will reach $15,000 by the end of the year. We take this view because the retail market is continuing to expand at a very healthy rate based on both our own data and industry trends.<\/em><\/p><\/blockquote>\n According to Scott, his prediction is based on the fact that institutional investors are becoming more active in the market. These big-money traders are reportedly buying BTC in high volumes, thus helping to initiate another significant bull run in 2018.<\/p>\n Despite the recent tumultuous price movements, BTC has managed to recover above the $6,000 mark. Some experts believe that BTC will still test $5,000<\/a> before any meaningful rally that will take the price to higher levels. This reasoning assumes that the base mining cost is approximately $5,000.<\/p>\n <\/p>\n At press time, Bitcoin was holding steadily above the $6,400 mark. The top-ranked cryptocurrency has also managed to attain its first seven-day positive price variance since the start of August 2018.<\/p>\n In another development, the Bitcoin network hashrate continues to increase despite the significant price drops experienced in the past few weeks. Already, Hashflare, a cloud mining service platform was forced to terminate<\/a> its Bitcoin mining contract.<\/p>\nBitcoin Hashrate Continues to Increase<\/h3>\n