Bitcoin Watch – Investment research firm Fundstrat predicts Bitcoin could rise to USD64,000 in 2019

Investment research firm Fundstrat released a report on Thursday in which it predicts Bitcoin could rise to USD64,000 in 2019 due to the growth of bitcoin "mining" activity. In the report, Fundstrat explore the process for creating Bitcoin known as "hash power," which involves the energy-intensive mining process. Fundstrat head of data science research Sam Doctor said: "We believe the current path of hash power growth supports a BTC price of about USD36,000 by 2019 year end, with a USD20,000-USD64,000 range."

Stay updated here with how the cryptocurrency is tracking:

baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[ scripts.length - 1 ]; (function (){ var appName = encodeURIComponent(window.location.hostname); if(appName==""){appName="local";} var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl+'serve/v3/coin/chart?fsym=BTC&tsyms=USD'; s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })();