Bitcoin has the potential to hit $25,000 by the end of 2019 or early 2020, according to analyst Oliver Isaacs.
“There are multiple drivers behind the recent resurgence. There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the US and China has led to the sudden interest in Bitcoin as a hedge on investments,” he told The Independent.
A growing number of investors are beginning to view it as an established safe haven operating in a market that is finally being protected through regulatory oversight, Isaacs added.
He also pointed to increased adoption of cryptocurrencies. Flexa, for instance, recently launched its new payments network, enabling shoppers to spend crypto in physical stores.
This currently supports Bitcoin, Ether, Bitcoin Cash, and the Gemini Dollar and works at such retailers as GameStop, Nordstrom, Whole Foods, Jamba Juice and Bed Bath & Beyond. “We couldn’t be more delighted to be working in such esteemed company, and we look forward to announcing even more incredible merchant partners on the Flexa network in the coming months,” Flexa said in a Medium post.
Its app, Spedn, generates a QR code that you scan at checkout. The merchant receives immediate payment in dollars, and the equivalent amount of cryptocurrency is debited from your cryptocurrency wallet in the app. “This is the first real instance of decentralised global retail payments, with the power to make commerce more efficient and accessible for billions of citizens globally,” said Flexa CEO Tyler Spalding in a statement.
“The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve these problems and allow merchants to conduct inexpensive and fraud-resistant transactions.”