Bitcoin Foundation executive director Lew Klaasen predicted that the price of bitcoin will rise to $40,000 this year, while 90% of other cryptocurrency projects are doomed to fail, Business Insider reports.
At the Startup Grind conference, which took place from February 12 to 14, Klaasen said that these failures will be associated with large investments by investors in projects that ultimately turn out to be scams.
In just a month and a half of 2018, 5 fraudulent ICOs and crypto exchangers were uncovered, one of which was the notorious Bitconnect.
Klaasen is confident that the cryptocurrency community will learn from its mistakes and be able to prevent them in the future. He believes investors are already taking every possible precaution and said “this is a problem that the market will resolve on its own over time.”
Next, he shared his vision of the growth of Bitcoin. In his opinion, the option when Bitcoin gradually grows to that same $40,000 mark is unlikely. Rather, its price will jump sharply over the course of three to six months until it consolidates at this level.
According to https://cointelegraph.com
You May Also Like
Bill Harris: Bitcoin Value Goes to Zero
Former PayPal CEO Bill Harris said in an interview on CNBC yesterday that the price of Bitcoin will continue to fall "and eventually approach zero." Harris also claims that he sees no value in such a means of payment.
Joseph Stiglitz: Bitcoin will be “regulated into oblivion”
Joseph Stiglitz is an American economist, professor at Columbia University, winner of the Nobel Prize in Economics. He joined forces with fellow economists Nouriel Roubini and Kenneth Rogoff in an attack on Bitcoin.
