The executive director of the Bitcoin Foundation Llew Claasen predicted that the price of Bitcoin will hit $40,000 by the end of 2018, while 90% of all other cryptocurrency projects will fail, Business Insider reported Feb. 15.
As Claasen stated at the Startup Grind conference which took place Feb. 12-14, this failure will be caused by investors taking too much risk investing in cryptocurrency projects which later turn out to be scams.
Only a month and a half into 2018, five major Initial Coin Offering (ICO) and cryptocurrency scams have already been discovered, including the notorious case of Bitconnect.
Claasen is confident that the cryptocurrency community will learn from these unfortunate occurrences and will be able to prevent them in future, as he told Business Insider. Claasen believes that investors are already being more careful, declaring that “this is a problem the market is good at solving."
As Claasen further explained, Bitcoin will not be gradually growing to the value of $40,000 over the course of 2018. Instead, it will be bouncing for three to six months with the same ups and downs as during the previous three months.
Just this Tuesday, the CEO of Ripple Brad Garlinghouse similarly said that most virtual currencies will likely go to zero, as reported by Business Insider.
No one have a crystal ball: exact numbers are uncertain.... but bitcoin is not going anywhere. Bitcoin is the father of all coins and it will dominate for a long time. With so many new “scam coins “ created almost every day.... We going to have a crypto bubble soon in the future.... at best 10% will survive.
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great post!
thanks u
I have read several posts where big whales and great analysts have predicted the price of bitcoin in 2018. Some say it will hit 64K, Claasen suggests $40k, other's are skeptical and prefer to keep the price low looking at the current price and correction. Well, it total depends on what you feel personally. In my recent post, I have explained the same about the FUD in the market. You can refer it on https://steemit.com/bitcoin/@saurabhshidhore/bitcoin-price-chart
Also, with altcoin people spread FUD that 90%, 98%, 50% and so on will fail and only the rest will be legit. But I feel it is stupid to believe and trust in all the news. Most of the times it's just a hype. Instead, go online and read about the roadmap and whitepaper for all the crypto you feel you are interested in.
Hence, TRUST YOUR VOICE!
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Attention: @tanvirabedin this is the fourth piece of plagiarized content and this time it comes from: https://cointelegraph.com/news/bitcoin-foundations-llew-claasen-says-bitcoin-will-hit-40000-90-of-altcoins-will-fail
Read this: https://steemit.com/steemcleaners/@steemcleaners/the-importance-of-citation
@steemflagrewards @steemcleaners @cheetah this is the fifth piece of plagiarized content I have discovered.
I can see more above this post when viewed from the users "blog" tab. It looks kinda like this post is the first article stolen from https://cointelegraph.com
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