Bitcoin Private Valuation
What is Bitcoin Private Worth ? Most Bitcoin Private is initially owned by HODLers who didn't sell during ZCL's dumps caused by fork delays and exchange support fails. Before these problems the ZCLs sentiment based value peaked at $239.
As Bitcoin Private is a new coin unlikely to experience the same delays and exchange fails as the ZCL fork, its sentiment based value should be equivalent to the initial $239 of ZCL before these problems occured.
Add to this the ability of Bitcoin Private to allow crypto traders to avoid triggering taxable events in various jurisdictions, (some of which treat trading from one crypto to another as a taxable event) and Bitcoin Private will quickly establish a central role among cryptocurrencies.
This genuine utility should take its price to at least double the initial sentiment based valuation, giving Bitcoin Private stable valuation of $478 (and a market cap of $478*21M=10.038 Billion) or $500 roughly. This places its value just below Litecoin and just above the major platforms like NEO and Cardano soon after it is launched.
The remaining weak hands from ZCL fork will sell during the the first correction after the price reaches ZCLs fork sentiment based value peak of $239, while the genuine HOLDers from the ZCL fork who are the majority owners at Bitcoin Private launch, won't want to sell until after the price reaches its initial sentiment value plus its utility based value of about $478 to $500.
As the impact of Bitcoin Private's sentiment based launch value wears off, its utility and name value (which is made up of name recognition and the fact that its utility is included in the name Bitcoin Private) should grow until it surpasses all other privacy coins in market cap. Its name value and tax delaying capability makes its use a no-brainer for newbies and savvy crypto traders alike.
So much so that many people will seek out exchanges on which it is trading before it is listed on major exchanges. Also many HODLers will keep their Bitcoin Private out of the market until they can sell it on major exchanges, further reducing supply and driving up price. Such demand for access to Bitcoin Private with low supply should drive the price up significantly even before Bitcoin Private listed on major exchanges.
Bitcoin Private should also surpass other Bitcoin alternatives due to its addition improvements in functionality beyond privacy. With its current features it is basically the best version of Bitcoin both from a technical and branding perspective, so any offers to sell below $478 to $500 in its early stages would be underpriced. Once $500 is surpassed this value should become a very strong support level, giving confidence to further market rallies and providing a floor to any corrections.
Another factor in its favor is that Bitcoin Private is one of the few crypto that is not relatively bound by past performance or position in the rankings. So if people need a coin that has room to move Bitcoin Private is an obvious choice. Finally many exchanges large and small knowing its technical, branding, and taxation benefits will look ridiculous if they don't offer it. These last two factors will play a big role in taking Bitcoin Private valuation beyond $500 to that of Bitcoin Cash, giving it a valuation of $1000.
With no technical analysis available before trading, the affects of initial fork sentiment, brand value, technical improvements, taxation utility, high trading demand, high exchange demand, and low trading supply before major exchange support, is the best we have to go on.
All of these factors create upward pressure making a Bitcoin Private price of $500+ quite reasonable and $1000+ quite possible in 2018. Especially since Bitcoin Private at $1000 is equivalent to the market cap of Bitcoin Cash after the recent FUD led market crash, which as it becomes history is making large cap alts look heavily undervalued.
As the market recovers Bitcoin Private can reach $1000 without having to take a top 5 position in market cap. This gives its price even more room to rise above $1000 as it continues to chase down Litecoin and Bitcoin Cash.
Ultimately Bitcoin Private should rise both with the market and at a higher rate than the market until it reaches its true value which is above Litecoin and Bitcoin Cash, based on its many positive features. $2000 dollars in 2018 is well within reach if the overall market recovers as expected.
This does not even take into account the reduction of supply due to unclaimed coins that will be burned in 2019 fixing the total BTC/BTCP supply at 5-8 million. With the total ZCL/BTCP supply at 2-3 million this gives a total circulating supply of 7 to 11 million instead of the expected 21 million. With this smaller circulating supply achieving market caps between Litecoin and Bitcoin Cash would put the Bitcoin Private price between $4000 to $6000.
Add to this a yearly doubling of the market generally and a price of $8,000 to $12000 in well within reach in 2019. This is not even that optimistic a prediction compared to how most large cap cryptocurrencies have behaved in the past.
Based on the above Bitcoin Private is one of the best cryptocurrencies to hold in 2018 and 2019.
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