Do Bitcoin and Cryptocurrency ‘Outrageous Predictions’ Come True?
Saxo Bank and Bitcoin
In December 2016 the Denmark-based Saxo bank made the prediction that bitcoin would rise by 165% from $700 to more than $2100 in early 2018. This prediction was made due to the economic stimulus from the then incoming president Trump.
This prediction came true because of the inability to dilute the finite supply of bitcoins and the low transactions costs made it more globally acceptable. In less than 6 months bitcoin had passed the $2000 mark predicted and on December 7th 2017 it hit $16615.
2017 was a great year for bitcoin however, 2018 started on rocky ground as it plunged to a two month low of $7695.
Predictions are however that it will pick up pretty soon and recently it has risen to $9562. Experts believe the bitcoin situation will have stabilized by the month of July and there will be a complete recovery.
Join Our Telegram Channel To Stay Updated About QuickX Protocol
The Wider Political Field
Now Saxo Bank is back with their predictions again and this time they have both a positive and a negative prediction for bitcoin. They claim that bitcoin will go to an all-time high of $100000 due to increased interest from institutional investors. First, it will reach an all-time high of $100000 due to increased interest from institutional investors, but after that there will be a steep drop due to two main reasons: Russia’s stand to criminalize cryptocurrencies by calling them surrogate money and China’s plan to ban bitcoin exchanges in a bid to stem online trading.
According to Saxo, China is going to unleash a multipronged assault on the decentralized cryptocurrency ecosystem so that they shift focus away from bitcoin while developing a state-backed cryptocurrency. The two economic giants also intend to put a stop to mining over ‘environmental concerns’ but Forbes reports that it is also over the perceived risks of the cryptocurrency. Experts, however, still believe bitcoin is poised for growth despite the hot ground it is currently treading on.
And then there was Tom Lee…..
Fundstrat’s Tom Lee has given a bigger prediction by saying that bitcoin will reach $25000 in 2018 and reach $125000 in 2022. He suggested that the recent plunge was an opportunity for investors to buy. At the same time, he adds that tactical rotations into other cryptocurrencies in 2018 will likely be an opportunity for investors to outperform bitcoin gains.
Other experts concur with Tom Lee, explaining that the up and down movement in bitcoin value is caused by growth pains like cost and time spent per transaction, technology, and scalability. The fact that common people cannot relate to cryptocurrency compounds these issues.
QuickX Swoops In
Limitations on Bitcoin, Ethereum, and other altcoins are the concerns QuickX technology intends to rectify. Scalability, cross-chain transactions, cost and time issues are all addressed through QuickX’s trading platform. It is only when these problems are finally solved that cryptocurrency will grow to its full potential and meet the expectations it was initially conceived for.
Join Our Telegram Channel To Stay Updated About QuickX Protocol.
