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.
