With the price of Bitcoin at $ 6,100, the voice of the Bitcoin bears on the market began to grow louder. The most striking thing about the bear forecasts is that Bitcoin will disappear by dropping $ 43.
From Bloomberg, Noah Smith pointed out three different ways BTC might go in the future. The first possibility is that BTC is the world's only current currency, as Jack Dorsey and Steve Wozniak predict. In this scenario, the BTC's nominal money takes its place, and all possible payments - coffee, rent, mortgage, etc. - used by everyone.
In Smith's second scenario, Bitcoin has a similar role to gold. In any country except for the failed economies like BTC Venezuela, nominal money does not take its place. However, the market value is quite remarkable, perhaps a trillion dollars. Rather than being used as a currency, BTC becomes a commodity that many people use as "protection" against the securities market facili- ties.
The third scenario is the opposite of the first two: Bitcoin is worthless with a decline. Nobody uses the BTC because it becomes worthless.
BTC will die at $ 43
According to Thycotic chief security expert Joseph Carson, the third possible scenario for Bitcoin is the third scenario.
"The most likely scenario is Bitcoin's death; Despite the exaggerated and manipulated value quotes, my Bitcoin value is about $ 43."
Carson predicts that BTC mining will not be profitable in a while, so the mining awards will be lifted.
"Bitcoin mining can be done in a more efficient and generally more stable manner. The current high mining costs and the fact that sellers can not accept BTC as a method of payment - they can not make a call because it is so expensive - it means the future of Bitcoin."
Bitcoin is trading at $ 6,172 with a 3.32% decline.