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Eternal question, is Bitcoin a speculative bubble?

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December 11, 2017 | 

1218 Views | 

Joanna Newman | 

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The course of Bitcoin continues to provoke interrogation in specialized circles.

In the midst of a world economy that is doing pretty well, with sharp increases over the past year, will Bitcoin be the one that will shatter all this?

Will it contribute to the health of the economy or is it a risk?

In fact, opinions are very controversial. There are the unconditional ones and there are the others. Those who think that this incredible story can only end badly.

Deutsche Bank thinks Bitcoin will collapse

Take the case of Deutsche Bank Chief Economist Torsten Slok. For him Bitcoin represents a major risk for the global economy for the next year. And he is even considering the worst, a crash for cryptocurrency.

This is what he said:

"It's mainly because of this (the volatility of Bitcoin prices) that I think the financial markets have so far considered it a small problem, we worry a bit that it could become more systemic, especially if current trends continue in 2018."

Yet others argue that Bitcoin is far from the only risk to the global economy.

There is Brexit, US inflation, the potential housing bubble in the Nordic countries, North Korea's nuclear tests and more...

As a result some believe that Bitcoin represents The solution to all the risks inherent in global policies and events.

Bitcoin is precisely the safe haven that will not suffer all these hazards.

"Bitcoin is not the bubble is the pin"

For example, Jeff Sprecher, president of the New York Stock Exchange (NYSE) regrets to have left their competitors, CBOE and CME, ahead of them in the launch of Bitcoin futures.

What will be the reaction to the opening of these exchanges to the cryptocurrency?

Whatever the reaction of the markets, one thing is certain, virtual currencies have indeed entered the traditional financial sector. And this decentralized system that these currencies represent is a much more egalitarian system.

This is what Mike Costache, one of Hdac's advisers, says when he says humorously:

"Bitcoin is the antitrust money that is this antidote to [the economic crisis] .The US dollar after several rounds of Quantitative Easing (the exact equivalent of a company buying its own bonds, which is self-managed and more or less illegal ) is a bubble, which is why I say "Bitcoin is not the bubble, it's the pin."

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