Therefore it is highly likely that the bitcoin bubble will last for several years and boost the price of other cryptocurrencies with it. The other widely traded cryptocurrency; ethereum or ether, has seen even bigger growth than bitcoin.Read more
Lingham thinks bitcoin prices will rise because he believes interest rates will increase in 2017. The catalyst that drives up bitcoin prices will be the US Federal Reserve, which might raise rates in order to prevent inflation.
“Essentially, the higher the rates go, the higher the demand for Bitcoin will be,” Lingham wrote in a December 27, blog post. “When the fed raises rates, emerging market economies have their currency devalued, which raises the effective price of Bitcoin for people in those markets, creating more equity value in their Bitcoins and driving up demand for more.”Read more