Bitcoin Will Drop 70% Bad Investors Expectations

Worse times are coming for cryptocurrency investors. Experts indicate that they will see significant drops of up to 35,000 PLN in the case of Bitcoin. Its current price is about 131 thousand PLN per unit.

While a decline of the genre seems unlikely, that is the vision of Scott Minerd, global investment director, Guggenheim Partners, a consulting and investment services firm. If Minerda’s predictions come true, the value of the remaining cryptocurrencies in the market is expected to decline.

CNBC . Service He refers to his words during the World Economic Forum conference. Minerd predicted 70 percent during the event. Bitcoin price dropThis means that it will reach $8000 for one bitcoin. The possible decline may be related to the tightening of monetary policy in the United States and a significant increase in interest rates.

According to Minerda, most cryptocurrencies are garbageBut Bitcoin and Ethereum will continue to be in the financial market. However, he does not believe that any of them will become the dominant player – this will only appear in the future of the cryptocurrency market. A proper cryptocurrency prototype must store value, serve as a medium of exchange and unit of account, and the current coins are still far away.

Minerd added that additional technological advances could change that and help create a new ecosystem. This, in turn, will make people become accustomed to using cryptocurrencies in transactions, and they will be sure that they will retain their value. Its volatility can dissuade many people from owning cryptocurrenciesTherefore, following Minerda’s logic, more stability will help cryptocurrencies become more popular as the de facto medium of exchange.

Carolina Coases, journalist at dobreprogramy.pl