Bitcoin’s price is a hot top of discussion right now as many are expecting it to blow up after the significant hike at the beginning of the month. But since then the leading cryptocurrency is struggling to maintain its price. It even saw a dip of more than $3000 from its peak during the month. However, Tomer Federman thinks that the cryptocurrency is on the right track.
In a blog post, he wrote that price is no the only measure by which we should judge bitcoin’s growth. Hash-rate, usability and other developments should be taken into account to determine the overall growth of the cryptocurrency, he added.
Tomer Federman believes that bitcoin could surpass gold to become the leading store of value and might go on to become the global reserve currency. This month bitcoin market cap broke 100 billion dollar mark for the first time. He also mentioned the increased hash rate, which is a positive sign for the growth of bitcoin. Currently, bitcoin hash-rate is 15 times higher than two years ago.
Ex-Facebook employee also pointed towards global political turmoil and economic uncertainties caused by US-China trade war, Brexit and Hong Kong protests that can benefit the bitcoin market.
