Bitcoin headed towards $6000-$6500 by the end of the year ? Here is the detailed report

We are hearing a lot of story about Bitcoin price targets for the year end but it seems very likely that we see BTC reach $6000 by the end of the year. There are few concerns also which is about low volumes in the past weeks, hard fork that is coming very soon which may lead to big swings in the prices.

On the positive side, There are rumors that Goldman Sachs may be planning to launch it's own exchange for trading Bitcoins. Not just that but they will use their own funds to trade in Bitcoins too. Just imagine if a big bank like Goldman Sachs does it then it will give lot of confidence to lot of other big banks in USA and also outside of USA who will also follow the suit. Ok, Let's leave JP Morgan (but even technically it's not true as they are buying BTC in huge quantity).

Since China has banned any ICO to originate from its soil and even closing down the Crypto exchanges, there was a big vacuum that was created as China contributed for nearly half of all the Bitcoins mined and traded in the world. This Vacuum is now filled by Japan and South Korea. Japan is even considering to launch their own Cryptocurrency which is temporarily named as J-Coin. So surely Japan will replace China slowly and will encourage other big economy to embrace Cryptocurrencies. Time is changing slowly as everyone wants to adopt blockchain now.

There is no reason to be skeptical about Blockchain or Cryptocurrencies because many people are complaining that these coins are used for criminal activity but this was the same when internet was first released but today only a small portion of such criminals are using Cryptos. One day this will be the real currency as it is backed by technology and not by greed of corrupt politicians.

I recommend buying small quantity of Bitcoin as investment for long term like one year. You will be nicely rewarded.

Regards,

Allthenews