Cryptocurrency market – predictions for 2018
What will the cryptocurrency market be like in 2018? Speakers often try to answer this question at various conferences dedicated to the crypto industry. Let's see what the leading world financial experts think about this.
The cryptocurrency market will cease to exist
A Harvard University professor, former IMF economist Kenneth Rogoff believes that within ten years the price of bitcoin will rather fall to $100 than grow to $100,000. This means that the cryptocurrency market in 2018 is expected to decline. He shared this opinion in an interview with CNBC.
The economist explains his opinion simply: bitcoin is applicable almost nowhere: its only uses are money laundering and tax evasion. The latter is not even true for all countries. For example, the IRS reminds taxpayers that tax evasion from cryptocurrency revenues is punishable by a fine or even a prison term.
Kenneth Rogoff believes that there will be a situation on the cryptocurrency market, when all countries will adopt regulation of digital currencies. It will be a forced measure to prevent the substitution of national currencies. The economist himself advocates the existence of regulation of such assets. According to him, it will be the death of all cryptocurrencies.
Bitcoin is the new world currency
But Tim Draper, a famous American billionaire and investor, believes that the cryptocurrency market is going to have a great future. In particular, the businessman is convinced that bitcoin will become a cornerstone of the world economy of the future.
According to him, the blockchain of bitcoin has not yet been hacked by anyone, but banks are robbed all the time. Therefore, cryptocurrencies are more secure than fiat money. The billionaire also believes that bitcoin can reach the most segments of the population, including the poor. But banks cannot, because the account maintenance costs a lot.
According to Tim Draper, cryptocurrency market will enter the everyday life of people, so the need for fiat money will simply disappear.
A twofold increase by the end of 2018
Former vice-president of JP Morgan Chase Ton Weiss gave a more precise prediction for the cryptocurrency market in 2018. In his opinion, by the end of the year, the price of one bitcoin will reach $25,000. However, this should be facilitated by the stabilization of the cryptocurrency market, which faced capital outflow and long-term correction.
Also, Ton Weiss considered China's ban on conducting ICO a positive thing, because only in this way it was possible to stop a huge number of fraudulent token sales in the country. At the same time, he believes that Russia does not have a clear vision on the regulation of the cryptocurrency market.
The living legend of the world of finance Warren Buffett in early 2018, in an interview with CNBC shared the opinion that an unfortunate fate awaits the cryptocurrency market. He does not give exact dates, but assures that digital assets investors will regret their investments.
"As for the cryptocurrency market, I'm sure it will collapse completely. When and how it will happen, I do not know," says Warren Buffett.
Opinions of famous investors are completely different: some predict a quick death to the cryptocurrency market, others - a rapid growth. This shows one thing: you can not predict what will happen in the world of finance 100% correctly, since it is influenced by millions of different factors. It is better to monitor the situation in real time and invest funds in accordance with the current situation on the cryptocurrency market.