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Cameron Winklewoss: bitcoin will rise in price 20 times and replace gold

According to Cameron Winklewoss, one of the two famous twin brothers, despite the dizzying rise of bitcoin in 2017, the price of crypto currency is still very far from its peak values ​​and can grow about 20 times more. He said this in an interview with Bloomberg .

Thus, Cameron Winklewoss believes that the current more than 10-fold increase in bitcoin since the beginning of the year is just the beginning of a "big road". Moreover, he is convinced that over time bitcoin will replace gold:

"I think that bitcoin will replace gold, and it will happen in the near future ," said Winklewoss.
Cameron's forecast for the price of bitcoin is based on the total value of the gold market. According to various estimates, the volume of this market ranges from six to 7.5 trillion dollars [while the current market capitalization of bitcoin is only $ 228 billion - note]. Also in his opinion, bitcoin has much better characteristics of divisibility and is much more portable than gold.

Also, according to Cameron, he is looking forward to the launch of bitcoine futures on the Chicago Stock Exchange, which will be held today, December 10. The basic asset of the futures contract will be the dollar value of BTC at the Vinkloss-led crypto-exchange Gemini.

Meanwhile, on the eve of the launch of CBOE futures, uncertainty and "bearish sentiment" reign on the market. In just the last three days, the price of bitcoin fell by about a quarter (compared with peak values ​​in the $ 17,000 area).

Some experts are convinced that bitcoin futures may cause even greater volatility of the first crypto currency and even provoke a sharp decline in its price.

Earlier ForkLog reported that the twins Tyler and Cameron Winklewoss were the world's first bitcoin billionaires .