I hope the recent increase in the price of bitcoins? Pregnant on the entry of Bakkt and on the possibility that 2019 is the year of (real) institutional investment? So do not read this article. According to these experts, economists, finance professors, miners and developers, Bitcoin is about to exit and will soon be as redundant as black and white TV. Here's what they have to say.
No investment strategy is worse than cryptocurrencies
Robert R. Johnson is a Ph.D., CFA, CAIA and professor of finance at Heider College of Business, Creighton University. He is Chairman and CEO of Economic Index Associates and co-author of The Tools and Techniques of Investment Planning, Investment Banking for Dummies, Strategic Value Investing and Invest With the Fed. He is definitely bearish on crypto.
"Bitcoin prices will continue to fall in 2019," he told CCN.
The highest point is probably near the level currently being marketed with bitcoins and I think it will change well below $ 1,000 during the year. Bitcoin is a purely speculative "asset" with no underlying value.
The fools who currently own it are going through a difficult time trying to find bigger fools who will take it out of their hands.
The simple truth is that there are practically no investment strategies that are worse ideas than cryptocurrencies. "Investing" in bitcoins and other cryptocurrencies is pure unmodified speculation. I have invested in brackets because this is not investing, it is speculating. The cryptocurrencies are the "Tulipmania" of the 21st century.
Bitcoin is the black and white TV
Ken Bodnar is a tokenization influencer and blockchain on LinkedIn. He is part of the team of esteemed economist Dr. Richard Rahn and has the mission to evolve cryptography from where he is in a new place with real patrimonial support, virtual or real. Bodnar has consistently and publicly planned on LinkedIn both this year and the last bitcoin going down to $ 4,000 and lower.
"His fall has been moderated by bitcoin futures trading on the CME and CBOE," he explains to CCN, but he will not prevent his further fall.
I'm predicting the bitcoin at the $ 2000 level in the near future. In the end it will come down to a price where it is too expensive for mine because of energy costs … It was the thin edge of the wedge that ushered in a paradigm shift, like black and white TV. It will be supplanted by something better that is infinitely more fungible.
The miners' jumping ship will lower the price further
Josh Boram is the owner of AntminerProfitability.com and has monitored mining statistics for mining hardware. Neither he is rosy about the future of Bitcoin. While he admits that he "has a lot of potential", he believes that volatility will remain high and that:
The aspect of the extraction of hardware will also affect the price, as profitability will decrease significantly, reducing the hype on its earning potential. This will have a negative effect on the price when the miners exit the game and sell their profits during mining uncertainty.
Encryption is useless unless it is used
That said, according to Drew Farnsworth, design and consulting partner of the Green Lane Design data center, everything is reduced to use.
Basically, unless people use cryptocurrency, its value will continue to decline.
"It depends on the absorption of payments and the effective utility of cryptography," he told CCN.
Crypto is really useless unless it is used. The main draw for Bitcoin is the size of the network … Without an efficient payment processing, Bitcoin will drop below $ 1,000 before EOY 2019.
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