While some analysts are optimistic and predict a new outbreak of Bitcoin this year, others expect an impending fall. This is the case of consulting firm Quinlan Associates, which recently predicted a collapse in the price of digital currency for this year.
A crash for Bitcoin in 2018 ....
Through a 156-page report titled "Fool's Gold", the company explains that Bitcoin is currently in a bubble. Its analysts believe that its current price would not be justified - whether it is considered a store of value or a means of exchange.
Here is what we read in this study:
"As an asset, we leveraged Bitcoin using a cost-of-production approach and a value-for-money approach, and we achieved values of 2,161 and 687, respectively. dollars.
To value the BTC as a currency, we have estimated its use as a legal means of payment for retail transactions, but also as a mode of payment on the black market. After significant tests, we calculated a price of 1780 dollars.
The company explains that the price of assets could likely fall below the threshold of $ 1,800 this year - unless the first digital currency is adopted as the official means of payment by some countries.
Crypto-markets fall to 223 billion.....
If Quilan Associates expects a collapse of Bitcoin prices, the company believes that it will also bring down the entire digital currency market. It predicts a drop in the "capitalization" of cryptocurrencies, to $ 223 billion - 68% less than the current $ 700 billion.
unfortunately I heard
this in media yesterday ..but they said that it is a temporal crises it will will finish so soon
so this is already happened since more then 10 days
In countries of South America like Venezuela, the goverment is trying to creat a crypto-coin based on OIL Actually, it is hard to say what the end of this is going to be. Let's wait for what comes