Saturday, April 14, 2018

Bitcoin Funds To Drop By $44 Billion Before 2019

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Bitcoin Funds To Drop By $44 Billion Before 2019
Bitcoin Funds To Drop By $44 Billion Before 2019

A recent study about cryptocurrency capitalization has been published in Switzerland by a group of researchers claiming that Bitcoin’s market value could plummet at high velocity speed by the end of 2018, causing a financial drop of nearly $44 biliion USD. Currently, the gross value of BTC is estimated at $121B but after running certain diagnostics at Zurich’s Department of Management, Technology and Economics, as well as Swiss Finance Institute at the University of Geneva, it has been predicted that some 35% of all funds could hit the skids due to an increased level of bubbles and crashes on the global market.

By using special mathematical formulas for analyzing coincidence of fundamental and technical indicators, experts have identified an accelerated tempo of growing and bursting bubbles on at least four attempts. Scientists have also applied Metcalfe’s law into the equations, which has been tied to cryptocurrencies since their inception for precise forecast of price increase. The results have shown that the number of Bitcoin users is dropping, especially in the previous 4 months (the current price of one unit is at the time of writing around $8,119 USD).

Although this may be true, the researchers are merely pointing out a possible scenario, emphasizing that the inceasingly unstable nature of digital assets should be closely monitored in the following period. If the user growth continues to drop, the current market cap might face serious issues as $44b or $33b regression might damage the entire industry at large. Pursuant to results of another research, the current market resembles to that of early 2014, which was followed by a downswing.

If you want to know how to keep your Bitcoins safe or learn more about the blockchain technology make sure to click on the links above. To repeat, Twitter’s CEO, Jack Dorsey recently stated that BTC could overtake the US dollar in the next decade, even though leading Internet companies put a ban on crypto ads due to misleading ICOs and spam.

Source:

“Bitcoin’s Value to Lose $44 Billion by Year’s End, Researchers Argue”, news.bitcoin.com. April 9, 2018.

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