The price of bitcoin has surpassed $1,000, breaking an all-time high record in more than three years. Bitcoin prices have steadily increased over the last few months, partially due to the devaluation of the yuan and geopolitical uncertainty, according to CNBC. “The value of Uber in any city is directly dependent on the number of drivers and number of users, it’s not linear it’s exponential. The same is true of the value of bitcoin,” Bobby Lee, chief executive of a bitcoin exchange in China, told CNBC. Bitcoin experts predict that the market and participants will grow, thereby increasing the price of bitcoin.
Others are more skeptical of “Expert” predictions especially after the massive run-up in price.
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