Bitcoin may reach over $60,000 benchmark in 2018 to collapse to its fundamental cost of $1,000

7 December 2017

According to the speculative forecast made by Saxo Bank recently, Bitcoin may experience an impetuous growth in 2018 to the groundbreaking benchmark of $60,000 per one BTC, and some time after that point it will drop dramatically to the $1,000 level right into 2019.

The forecast was made within the framework of Saxo Bank’s project dubbed “Outrageous Predictions” for 2018, which takes major global developments in various industries and areas and suggests possible scenario of their future.

Meantime, Steen Jakobsen, a chief economist at Saxo Bank, entered a notation, saying that the report should be viewed as possible leaps in the development of certain events and market ecosystems, it should not be taken as the official point of view Saxo Bank is holding.

Other predictions in the list of outrageous events include loss of independence for the U.S. Federal Reserve and shaving the leadership of Apple’s position in the market by Chinese TenCent conglomerate.

Bitcoin is still of a particular interest for customers, as the value of the cryptocurrency makes fantastic surges bringing the BTC to over $16,000 this week. The forecast makes an assumption that in 2018 Bitcoin may grow well above $60,000 with its market capitalization exceeding $1 trillion, a 17th part of the US GDP, but the position would not be held for a long time, as Russia and China are taking proactive measures to combat unregulated cryptocurrencies in their domestic markets. The unparalleled blastoff will end up with $1,000 value, Bitcoin’s fundamental production cost.

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