The only way bitcoin can reach its peak is if a major retailer such as Amazon announces it will accept it for payment, says DataTrek Research co-founder Nick Colas. Mr Colas also released a report debunking the myth that Bitcoin prices correlate with stock prices: “During the recent market drawdown in the early part of February, the correlation was really high. As stocks went down, bitcoin went down. Bitcoin faded just like a stock. However, as stocks began to rebound that correlation fell apart.” Mr Colas’ 2018 prediction for bitcoin is a price of around USD14,000 unless a retailer decides to get on board.
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