Most predictions for the Bitcoin price in 2018 is that Bitcoin will continue to rise but there are a few people predicting the Bitcoin bubble will burst in 2018.
Here are some of them:
The Great Bitcoin Crash of 2018
Greg Guenthner of The Daily Reckoning, an investment newsletter service predicts an epic bitcoin crash in the coming months losing at least half of its value.
Greg said: “Make no mistake — I don’t think this crash will mark the end of bitcoin. In fact, I think another hard reset for the digital currency has the potential to strengthen bitcoin in the long-term.”
Full story from The Daily Reckoning here
A European bank predicts bitcoin will soar to $60,000 before crashing to $1,000 – From Saxo Bank’s outrageous predictions for 2018 – Click here
Bitcoin is thrown to the wolves:-
Bitcoin peaks in 2018 above $60,000 and with a market capitalization of over $1 trillion as the advent of the Bitcoin futures contract in December 2017 leads to a groundswell of involvement by investors and funds that are more comfortable trading futures than tying up funds on cryptocurrency exchanges. Before long, however, the Bitcoin phenomenon finds the rug torn out from under it as Russia and China move deftly to the sideline and even prohibit non-sanctioned cryptocurrencies domestically. After its spectacular peak in 2018, Bitcoin crashes and limps into 2019 close to its fundamental “production cost” of $1,000.
Morgan Stanley sent a note out to their clients recently, suggesting the real value of Bitcoin should actually be $0. Analyst James Faucette and his team are attempting to value Bitcoin, as reported by Business Insider:-
“It’s not like a currency, it’s not like gold, and it has had difficulty scaling.
- Can Bitcoin be valued like a currency? No. There is no interest rate associated with Bitcoin.
- Like digital gold? Maybe. Does not have any intrinsic use like gold has in electronics or jewelry. But investors appear to be ascribing some value to it.
- Is it a payment network? Yes but it is tough to scale and does not charge a transaction fee.
- Bitcoin average daily trading volume of $3bn (last 30 days) vs $5.4 trillion in the FX market.
- Est. <$300mn in daily purchase volume vs. $17bn for Visa”
There is a lot of talk about the Bitcoin bubble bursting but most predictions are still for another stellar Bitcoin Year in 2018.
Here are some of the Bitcoin bulls
And there are traders looking for alternatives to Bitcoin…
What do you think? Please leave a comment below…
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