Bitcoin Might Rebound to a Certain Level, says Cryptocurrency Analyst

Lazar Jaric, a cryptocurrency enthusiast and analyst, who also has expertise in cloud mining, spoke about bitcoin and its future to BlockPublisher. The cryptocurrency has been seeing low for quite long and that’s why it is being associated with a rebound which will bring bitcoin’s price high as it was in the past. On enquiring about the possibility of bitcoin rebound in the future, Lazar Jaric replied:

Hard to say. It might rebound to a certain level but I doubt it will grow at the same speed and rate as it did in 2017/2018. However, development is underway to help it deal with its mining efficiency, as well as control its inflation.

While telling that the growth of bitcoin in the future would be incomparable with the growth it had achieved in the past, Lazar Jaric also shared the insight of rebounding and its measurement. He said:

Thus, it is important to state that “rebounding” can be measured up to a certain degree, whereas its real value represents the support it enjoys in the market. So far, institutional investors are yet to gain a significant foothold in the bitcoin market.

Recently, Jeff Garzik mentioned bitcoin as ‘unquestionably a success’ for storing a value. Jeff Garzik is considered as the third biggest contributor to the bitcoin after bitcoin’s creator, Satoshi Nakamoto, and developer, Gavin Andresen. In 2010, after reading a blog post about bitcoin, he started coding for bitcoin.

Jeff Garzik stated that bitcoin has not become what he had visioned it to become. Although he approves of bitcoin’s performance so far, he pointed out the aspects in which bitcoin could not evolve in accordance with his vision. Jeff revealed that bitcoin is still not widely accepted as it has not evolved on as a high volume payment.

Jeff said that in the past, about seven years ago, he gave about 15, 678 bitcoins. At that time, the price of bitcoin was low. According to bitcoin’s current price, Jeff had given about $100 dollar million worth bitcoin. He said that he had no regrets with his actions in the past and while he is aware of bitcoin’s worth nowadays, he is comfortable his past deeds.

Bitcoin has been facing tremendous reds and bottom of the graphs for quite long. People and investors are all lined up for experiencing the revival of bitcoin.

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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