The price of bitcoin digital currency, which more than doubled in 2015, is poised to surge even higher next year as investors have regained confidence in its stability after the collapse of the Mt. Gox exchange in 2014.
Bitcoin is trading for about $443, an increase from its $200 level during the beginning of the year. That’s better than the 12-month forecast of $400 Wedbush Securities made in in July (the firm raised its forecast on Wednesday to $600). According to Adamant Research, bitcoin’s price has surged more than 900 percent since it began trading 2010.
Opinions vary about how high bitcoin will rise in 2016. An unscientific poll by CoinDesk, which follows the market, found 37 percent of respondents thought prices would hit between $500 and $1,000. Another 26 percent thought it might top $1,000 as demand continues to climb.