WHEN BITCOIN WILL EXPLODE?
The bitcoin, the most popular and expensive cryptocurrency in the world, is actually a bubble that will sooner or later explode, says Leonid Delitsin, an analyst at the investment company FINAM.
According to the expert, the bitcoin is trying to fill a significant gap in the market, where it still "has no real competitors". Meanwhile, "people always try to buy what is growing in value before it starts to fall," the analyst explains.
In this sense, Delitsin remembers a similar bubble, the one that occurred in the dot.com business at the end of the 1990s, which showed fantastic growth, sometimes multiplying by ten in just two months.
They reveal when it's going to "pop" & quot; Bitcoin
As for the current bubble, the analyst predicts that "it will explode when there is no new money to feed it". However, today, "it seems that there are large reserves, so it could increase two or three more times before it explodes," he adds.
Specifically, the expert believes that the bitcoin will increase its value to reach $ 25,000 this year, after which it will suffer a drop of between 30 and 40%. However, then it will recover to 20,000 or 22,000 dollars, and "what happens next is unpredictable."
In a situation where there are "about 1,000 rival cryptocurrencies" and new financial instruments are invented in addition to the bitcoin, "we do not know what else could enter the market within a year," says the analyst, who believes that the main problem for bitcoin and blockchain technology is that "they need to show a real application".
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