50 000€ for bitcoin according to Bayerische Landesbank
Published: 25. 11. 2019 ·
The German Bayerische Landesbank was the first to do a study that, according to data and analyzes available, predicts an increase in the price of bitcoin to reach more than € 50,000 as soon as the next year.
Bayerische Landesbank is the world's first regulated banking institution to provide such a qualified estimate. This is the first time the bank has embarked on forecasting the prices of a cryptocurrency. The study was published in September this year and showed a detailed behavior of bitcoin and its resemblance to real gold.
Why increase to €50,000?
This is due to the “rarity factor.” This is the ratio of the already mined to the newly mined quantity. This parameter demonstrably determined the average price of Bitcoin in the past and has been equally well determining the long-term prices of gold and the investment diamonds. As the amount of the Bitcoin mined is increasing, while its new mining is gradually decreasing, this puts pressure on the price hike. In May 2020, the next four-year cycle is going to end, and the bitcoin halving will occur. With this, the amount of newly mined bitcoin per block will be halved. The complete mining of all bitcoins is set in the blockchain code and will end in approximately 2140.
A chance for investors
With bitcoin rising to € 50,000, today's investors could count on a profit of around 600%. But is it reasonable to rely solely on bitcoin? “The growth of bitcoin prices is often associated with the growth of other cryptocurrencies. Over the past three years, the overall cryptocurrency market has grown faster than bitcoin. It is, therefore, sensible to spread the investment over a broader portfolio.” Juraj Forgács, Fumbi CEO.
Sign up with Fumbi and invest while the cryptocurrency price is relatively low.
Fumbi, a handy tool for investing in cryptocurrencies
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An important aspect of investing in online currencies is the security of our investment. Fumbi assures the security by placing your cryptocurrencies offline, in the so-called paper wallet. Thus, important information about our cryptocurrencies is not stored in the virtual environment, where computer hackers can attack directly, but it is physically printed on paper.
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