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Bitcoin seen at USD 1780 by end-2018 - Quinlan & Associates

The Wall Street consultancy firm, Quinlan & Associates, predicts the price of Bitcoin to be under USD 1800 for end-2018.

Key Quotes via Business Insider:

"As an asset, we valued Bitcoin using a cost of production approach and a store of value approach, resulting in values of USD 2,161 and USD 687 respectively.

To value BTC as a currency, we estimated its utilization for both legal, retail transactions payments, as well as payments in the black market.

After significant testing, we calculated the price of BTC 1 to be USD 1,780."

Bitcoin is a bubble "waiting to burst."

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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