Every year, Saxo Banks publishes its collection of "Outrageous Predictions". These 10 predictions are defined as "a very unlikely and highly underestimated set of events". Among these predictions, two analysts mention a sharp rise in bitcoin, until governments against attack and do not crash.
A bitcoin $ 60,000 in 2018?
Saxo Banks is one of Denmark's largest online investment banks. According to the bank, the price of Bitcoin will continue in 2018 to reach $ 60,000, driven by the arrival of derivatives and media coverage increasingly important.
"The rise of Bitcoin and other cryptocurrencies has been one of the most spectacular phenomena in financial markets in recent years. Bitcoin will continue to climb - and climb high - for most of 2018, but Russia and China will jointly organize a crash. »Outrageous Prediction, Saxo Bank
We know Russia and China very involved in the world of cryptocurrencies. Russia is in the process of providing a legal framework for cryptocurrencies. China, meanwhile, is regularly in the media with decisions shaking the market, as shown by the recent crash caused by the ban on ICOs.
Bitcoin threatened by a national crypto?
This new prophecy, however, insists that this incredible rise will probably be followed by an equally incredible decline. According to them, China and Russia will attack the Bitcoin problem head on, trying to "shift the focus on Bitcoin". Their best weapon to do this? All the resources of a government put at the service of a state cryptomony.
"The better functioning of state software, in the service of real payments and price stability, as well as the heavy hand intervention of the states, are pushing a growing disinterest for all cryptocurrencies, and relegate Bitcoin and the crypto phenomenon to an interest only speculative [...]. After reaching an incredible peak in 2018, Bitcoin crashed and ran aground in 2019 near its $ 1,000 basic "production cost". »Outrageous Prediction, Saxo Bank
Keep in mind that these are only deliberately unlikely predictions from the bank. However, last year, Saxo announced among its "outrageous predictions" for 2017 a record climb for Bitcoin, placing it at $ 2,100. A quick glance at the price will confirm that this prediction was indeed far too timid.