A major investment bank has predicted Bitcoin’s crash and pinpointed it to next year after it soars to over $60,000. Russia and China work together to “engineer the crash,” of Bitcoin the bank has predicted.
According to Saxo Bank, Bitcoin will continue to rise during most of 2018 until it peaks at around $60,000. At that point, Moscow and Beijing will facilitate a crash of the cryptocurrency as they harshly crackdown on it. Saxo Bank predicts that more money will be gambled in digital currencies until more than £750billion ($1trillion) is invested worldwide.
The forecast assumes a Russian crackdown taking the form of the Kremlin mining of the cryptocurrency itself and “shifting the focus away from Bitcoin in an effort to keep more Russian capital onshore.” Meanwhile, in China, Saxo Bank predicts a state-sanctioned virtual currency will be launched which requires less computing power – and less power – to mine. Eventually, due to the “heavy hand of state intervention,” interest in cryptocurrencies decreases and “completely sidelines the Bitcoin and crypto phenomenon from a price speculation angle,” according to the bank’s prediction.
The prediction also finishes with Bitcoin’s end price at just $1000. Veteran investor Eric Schiffer has also shared his warning about the cryptocurrency. He thinks Bitcoin could become the biggest financial danger of the 21st century, branding it a “financial bubble bigger than the tulip craze.” He said: “I think bitcoin is a ‘tower of death’. It is going to result in the imminent death of your investment – a thermonuclear death.”
However, other experts, such as Jordan Hiscott, chief trader at Ayondo Markets, do not agree with Saxo Bank’s assessment and prediction. Hiscott does not see a crash on the horizon for Bitcoin. But he has also warned people to think twice before investing their hard-earned cash in cryptocurrencies. “For good investment options find trusted companies that would do that for you or look for a commodity with actual underlying value,” said Hiscott.
collapse away
Really. Let it pop. A friggin’ scam to separate what few dollars we have left from our pockets. I’m just a realist or in need of something tangible I suppose. All currency needs to be backed by something of substance. Fiat – faith – has gotten us into one hell of a mess. It ain’t going to get us out.
on the 1988 economist magazine the date is ten 10 2018 new money to be inplace,or started.inlarge the coin around the phoenix neck.
i am tired of hearing my boss bragg that he bought bitcoin.
Nice try
You must own bitcoin. It won’t be Russia or China. Bitcoin is already doomed . It’s a model T , compares to a supersonic jet.
Check out hashgraph. There will soon be a crypto using this new ledger technology.
Have a nice day.
Crypto currency can crash and burn for all I care.
I hope it does crash, sooner the better. I’m tired of hearing about it.
The Gold backed Yuan stands a good chance of taking down the Petro dollar and any type of fiat currency.
OG,
I recently tried to buy some solar panels directly from the Chinese manufacturers. I learned a lot about Chinese business practices, Importation, and the Solar panel market in general. I canceled the purchase.
If you think knowledgeable people in the world would trust the Chinese in a business transaction, you must be a Liberal.
rellik, Not sure I can agree with that, and no, I am not Chinese, I am American.
But the Trumps (mostly Donald and Ivanka) have a lot of product manufacturing going on and licensing deals with China and they are knowledgeable people. And over the decades they’ve also done extremely well with their China deals/transactions, and Trump is certainly not a Liberal.
Trump has even announced many times, “I love China, I love the Chinese”, many times he has said that. He has worked countless deals with them. If he didn’t get suckered after all these decades, and even more recently, maybe they aren’t so bad after all. Something to think about.
I don’t believe a word that “Major Investment Banks” say.
More than likely Deep State False Flag that will be blamed on Russia and China to get the fireworks started.
Won’t effect me, unless it (hopefully) brings on a worldwide economic collapse.
beatup and more hating on China and Russia, Like Sprott telling us for the last decade or so about imminent collapse, therefore buy gold and silver, to da moon!
Don’t get me wrong, one of life’s pleasures in China is to cheat and rob each other, but if bitcoin is to fail it is not because you can make fake btc…it will be due to the pisspoor number of transactions per second as the entire network authenticates each and every one.
There is MAJOR coin being made right now. Go to coinmarketcap and get started learning about all in the top 100.You can at this time make a fortune in a matter of just a few months.
The atate sanctioned coin is Ripple, but it is at this time probably not the definitive crypto. Ripple tripled only in the last few weeks. In Russia, the main one I am aware of is WAVES, which has partnered with a significant Russian state organization afaik. It will be updating its algorithm to reportedly make the fastest blockcchain on the internet December 29. That will overcome a poijt of sales speed issue hopefully. We will see. It too looks to be an early player. already, I see NXT offering something similar. On both platforms you can design your OWN token, eg one called SHTF and the functionality of same.
Bitcoin will be replaced and there will be crazy price action, perhaps like gold in the 70s and 80s who knows.
I don’t know about a Bitcoin collapse, but I do know Trump will save tens of millions on the new *Tax Plan* and his kids will not have to pay hundreds of millions in inheritance taxes when he dies. As it turns out, the average American is not going to benefit.
Another issue, my parents and the nine eldest members of my extended family, all of whom are collecting Social Security benefits and are also eligible for Medicare, just received a letter over the past week saying their SS benefits would increase by 2% in January but then they lost it in the 2018 Medicare increase, effective January 2018. Turns out it’s a wash.
They won’t see a dime of increase and will actually be getting a few dollars less per month in their monthly SS check. So much for the 2% cost of living increase. This Administration is creating a lot of illusions that too many are buying into, but that I can see right through. This Tax Plan benefits the rich. As it turns out, with this Administration it’s a case of same shit, different day.
BITCOIN IS A DISTRACTION – PAY ATTENTION TO TRUMP’S NEW TAX PLAN:
Wealthy Republican donors who are part of the base will come out quite nicely from this proposal. But the proverbial kind of lower-class to middle-class worker is not going to benefit nearly as much, particularly when the *financing of the tax cut* is taken into account. We are being deceived by this plan that will enrich the rich, including Trump.
On May 16th Uranus moves from Aries into Taurus. The last time Uranus moved from one sign (Pisces) into the next (Aries) was within days of the Fukushima disaster.
Uranus does rule the Internet while Taurus rules the economy and currencies. FYI, Taureans like real things so I would expect a PM spike in May. May is also when the Sun is in Taurus. In November of 2018, Uranus goes retrograde (moves backwards) into Aries for a few weeks.
It’s going to be an interesting year. I own both BTC and PMs.
I am just curious since when we all started trusting Investment Banks? Are they not the ones who “overslept” all crashes on the market? “We didn’t see it coming..” U-hu, that’s why sold all our worthless papers to you, idiots.