Cryptocurrency is not dead, but overrated and the real exchange rate of Bitcoin without taking into account the speculation is about 5 thousand dollars. In an interview with CCN said the chief economic adviser at Allianz Mohamed El-Erian.
Former Chairman of the Council for global development under the administration of US President added that the time to grieve for digital money has not yet come.
What we see now is just proof of the fallacy of the expectations of the members of the crypto community, who were hoping that Bitcoin will be in the financial system quickly and painlessly. I think this process will last long, which is unlikely to appeal to enthusiasts of digital money.
What will happen to Bitcoin? The analyst
Other analysts believe that the downward trend of Bitcoin can persist for a long time. According to the founder of “small Finance” Luis Carranza, in 2018 the first cryptocurrency may find a new bottom in the area of 2,5 thousand dollars. He also admitted that the minimum rate of the coins by the end of the year will make 4,5 thousand dollars.
Professor jürgen von Hagen of the University of Bonn believes that digital money will grow only when people are disappointed in Fiat.
Cryptocurrency will become attractive if Fiat money becomes extremely unstable. Their wide use in the financial system will be the result, not the cause of instability.
Hopefully, Bitcoin will not fall to 2.5 thousand dollars. Even in the course of 6 thousand dollars scares a lot of coin holders, and a fall below can for many years to close the market for institutional investors.
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