Some reasons that can crash Bitcoin
As for the pessimists, there are several reasons that could cause Bitcoin to a fatal fall.
First: conflicts within members of the Bitcoin community that could lead to new fork.
New splits could damage the most famous cryptocurrency.
Secondly, regulators could finally come up with a massive regulation of virtual money.
Third: hackers have already managed to crumble cryptocurrency exchanges, as in 2014 in Japan.
In 2016, the Bitfinex platform was stolen for $ 65 million.
These events caused a sharp drop in Bitcoin.
Fourth: For traders today, the possibility of betting down is very expensive and is quite risky.
In the future, and with the opening of the GCE to Bitcoin futures, this could be a good option for traders.
And of course this could lead to a decrease in cryptocurrency.
Fifth: When Bitcoin exceeded $ 10,000, one of the largest platforms like Coinbase had trouble managing the number of its customers.
With massive speculation, traders wanting to swap their Bitcoin for traditional currency risk driving Bitcoin down.
Sixth: It is very difficult to know that it is the price of inertia of cryptocurrency. This is what makes several experts say that Bitcoin is a bubble that could explode overnight, leaving many investors on the pavement.
Can Bitcoin get a price of $ 1 million?
However, faced with these pessimistic analyzes, some believe that Bitcoin is promised a bright future.
Among them, John Mc Afee, the founder of a famous software company.
This technology mogul had already predicted and even bet in July that Bitcoin would reach $ 500,000 by 2020.
But since Bitcoin has exceeded 10,000 USD, Mc Afee has revised its forecasts upward.
And here is what he said:
“When I predicted bitcoin at $ 500,000 by the end of 2020, I was using a $ 5,000 model by the end of 2017. BTC accelerated much faster than my hypothesis model. i now predict bitcoin to $ 1 million by the end of 2020. i will still eat my b … e if i’m wrong! “
It should be noted that he is not the only one to have made predictions on the rise.
Since Bitcoin broke the $ 10,000 glass ceiling, others have revised their forecasts.
This is the case of Ronnie Moas. The famous founder and analyst at Standpoint Research started by predicting a Bitcoin at 11,000 USD, now announcing it at 20,000 USD.
As for Max Keizer, he says that Bitcoin could reach the price of 100,000 USD!
Bubble or good vein, the future will tell us which of these two visions was good!