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Bitcoin Price Will Reach $25k By 2019 And $250k By 2022, Experts Say



There is no time when the Bitcoin price isn’t a hot topic. Whether it’s surging or sinking, the leading cryptocurrency is the most popular topics of all in the crypto space.

With the recent surge to over $8,000 Bitcoin got into the eyes of many investors, traders and experts who are having another say on the cryptocurrency’s future. According to analysts, there may be a sudden surge in demand from institutional investors, making the price of Bitcoin grow a lot by the end of this year.

A couple of days after the billionaire venture capitalist and SpaceX investor Tim Draper said that Bitcoin price is likely going towards $250,000 by the end of 2022, we are all curious to see what the short-term growth will be.

Speaking of which, the mid-term is what is more interesting for many analysts. One of them is the Wall Street analyst and Fundstrat founder Tom Lee, who stated that the Bitcoin price will achieve $25,000 by the start of 2019. He also said that this is a major correction, noting:

“We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year,”

The Bitcoin price recorded a 15% increase in only 3 days – rising from $6,900 to $8,000. If the momentum is being kept, Lee’s predictions may turn out true and overcome the previous all-time high.

At this point, the major breakdown happens with the question – does Bitcoin have the potential to evolve into a major currency that is used by millions of users, merchants, retailers, restaurants, cafes, and businesses?

If this is possible, then the mid-term price prediction is more than likely to happen – and the long-term goals of $250k are definitely something that could happen (even sooner than 2022). In the end, we are about to see what happens with the current regulation going on.

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Goverment Of Brazil Supports The Issuance Of Bitcoin Trades

The largest independent brokerage in Brazil, Grupo XP, recently released its plans to launch a Bitcoin and Ethereum trading platform by the end of 2018. What's interesting is that the government of Brazil has supported this initiative - which is how it entered today's Bitcoin news category.The CEO of Grupo XP, Guilherme Benchimol, has stated that his business will integrate both Bitcoin and Ethereum in the existing infrastructure of the brokerage - which will allow more than 3 million investors to invest in the emerging asset class.After receiving complaints that crypto exchanges received subpar financial services from local banks, on September 20th, the government of Brazil and its antitrust watchdog launched a formal investigation into banks and major financial institutions. The officials at the Administrative Council for Economic Defense (CADE) then stated:
“However, it does not seem reasonable for banks to apply such restrictive measures a priority on a straight-line basis to all cryptocurrency companies, without examining the level of compliance and the anti-fraud measures adopted by individual brokerage firms conferring unlawful treatment per se on businesses brokering cryptocurrencies.”
Even though the CEO of Grupo XP said that he is not 'a big fan' of cryptocurrencies as a store of value or consensus currency, he stated that the company feels obligated to start penetrating the market. His view is that ultimately, investment firms are required to meet the demands and needs of their clients.As he explained:
“I must confess, this is a theme I’d rather didn’t exist, but it does. We felt obligated to start advancing in this market.”
At this point, the decision of Grupo XP is monumental for the South American cryptocurrency market - mostly because it comes in time when the government of Brazil has already taken its first approach towards legitimizing the market with financial services and banking partners. There is support from the government - which may transcend to an encouragement and potential regulation of this market in the country.
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New $59 Million Hack: Japanese Crypto Exchange Zaif Got Breached

According to a report by Cointelegraph Japan, the major cryptocurrency exchange Zaif which is operating in Japan recently got hacked. The news is everywhere in the Bitcoin scams category - as hackers have reportedly stolen $59 million worth of cryptocurrencies from the Japanese cryptocurrency exchange.According to one local report, a security breach that took place on September 14th led to hackers stealing 4.5 billion yen from users' hot wallets as well as 2.2 billion yen from the assets of the company. The total losses are now amounting to 6.7 billion yen which is roughly $60 million USD.The company who operated Zaif is named Tech Bureau Inc. According to one official press release, they said that the exchange detected a server error on September 17th, after which they suspended all of the deposits and withdrawals. Later on, the exchange realized that the error was actually a hack - and reported the incident to the Japanese financial regulator, the Financial Services Agency (FSA) of Japan.The hackers stole 5,966 Bitcoin (BTC) as well as an additional number of Bitcoin Cash (BCH) and MonaCoin (MONA). As Tech Bureau Inc. reported, the firm Fisco Digital Asset Group will help Zaif to cover the lost customer assets by providing 5 billion yen ($44.5 million) and by becoming a majority shareholder in the company.Meanwhile, Zaif is the 101st largest cryptocurrency exchange in terms of trade volume.
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Switzerland And Israel Just Partnered Up In A Crypto & Blockchain Regulation Initiative

In the latest news about regulation, the minister for finance in Switzerland, Ueli Maurer, recently visited Israel along with the State Secretary for International Financial Matters, Joerg Gasser - to discuss about potential partnership between the two countries.In a nutshell, the minister's goal is to gain bank access to Israeli markets and allow Swiss banks to trade there. As Reuters reported, the two nations are now officially in an agreement to collaborate on financial technology, cryptocurrency and blockchain regulation following the discussions in Israel.Meanwhile, Gasser confirmed the rumors that he was preparing a set of blockchain regulation methods and factors. As he said, this set of regulation methods will be live by the end of the year - with a goal for the parliament to approve them in 2019.With this, Switzerland again confirmed its positive stance towards cryptocurrencies - especially towards startups and researchers who are willing to get blockchain-friendly regulation. The country is also a home to Zug, which is a small Alpine town that has turned into a blockchain hub, referred to as Crypto Valley in a nod to California's Silicon Valley tech hub.However, organizations in Switzerland still have difficulties in opening bank accounts over the central bank concerns regarding the opaque nature of crypto-crowdfunding. Israel, on the other hand, is also looking forward to a new change. As the Prime Minister Benjamin Netanyahu last year added:
“Is the fate of banks that they will eventually disappear? Yes. The answer is Yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin? That’s a question mark.”
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John McAfee Orders His Followers To Spam SEC’s Email

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