Bitcoin Forecast: $50,000 or Zero
Financial experts give their predictions on the matter where Bitcoin and its rivals will go on next.
Thomas Glucksmann, the head of APAC business development at Gatecoin, predicted that Bitcoin will hit $50,000 by the end of the year.
The Winklevoss twins, who have quite a lot of skin in the game, believe it will someday be worth 40 times its current value – which is $340,000.
The head of Goldman Sachs Steve Strongin told CNBC that there is no intristic value and would not be around in the long-term at all. Nouriel Roubini called people, who have bought digital coins “crypto crazies”.
Only one thing is certain, of course, and that is they can’t all be right.
That is clearly good news for a sector that has digested a lot of negative news since the turn of the year, although it doesn’t mean the ECB is ignoring the issue.
Arun Jaitley, the Finance Minister made headlines last week and insisted that cryptocurrencies were not legal tender and the government won’t recognize them.
However, it has emerged that The Reserve Bank of India (RBI) is already looking at introducing its own – with the success of Bitcoin encouraging the central bank to look at a coin that could become an alternative to the Indian rupee for digital transactions.