Goldman Sachs chief investment strategist Steve Strongen predicted that the virtual currency would not survive and said it was unlikely that the currencies would continue in the long term, although parts of them could develop and continue, and currencies that would not survive would fall to zero Because there is no intrinsic value.
Despite the fact that there are 1515 hypothetical currencies, according to the Queen's Market, many of these currencies and their start-up companies will not survive until 2020, especially as hundreds of these currencies have very small volumes that become worthless in the absence of their founders and trading advisors, Among these small currencies are Trekcoin and Bebcoin, which are used as a means of paying Israeli bribes.
For the top 10 currencies, their value is unlikely to fall to zero or to disappear. The most important of these currencies is the bitcoin it dropped $ 6900 down by 18 percent but it started climbing in the past two weeks, adding $ 4,000 to investors' gains. 'The recovery is due to the improvement in governments' language towards virtual currencies,' said Noem Aslam, market analyst at Thinkcoin. 'South Korea is no longer imposing a ban on these currencies and is moving towards a professionalization of virtual currency trading. Aslam said the $ 11.555 is a very important level, and the bitcoin has started to fall below this level since February 19, and if the pair is able to stabilize above the $ 10,000 level, the lower resistance path will head towards the upside. For its part, the Israeli government takes the virtual currency market too seriously. Many start-ups and virtual currencies come from Israel, and Israel's tax approach is similar to property tax, which makes it easier to deal with virtual currencies.
In a report, published in January, Blockchain 2.0, analysts said that Bitcoin has many competitors, the most notably is the ethereum, it characterized by the fast transactions and low costs. Analysts, led by Charles Brennan, believe that Betcoin and other virtual currencies will remain specialized payment networks in the future, and Goldman Sachs agreed. Instead of predicting the disappearance of these currencies, Credit Suisse analysts believe that the whole industry is worth seeing, especially as a source of funding for emerging companies as a result of the continued expansion of the Blockchain. Brennan and his colleagues say it is difficult to put a context for virtual currencies in this speculative period, adding that these currencies are the beginning of a potential revolution in how information is handled and verified worldwide.