Bank of Canada on Crypto: $10 Trillion in 20 years!
Royal Bank of Canada came out with a report (https://www.cnbc.com/2018/01/03/one-stock-analysts-10-trillion-bull-case-for-cryptocurrencies.html) forecasting that total market capitalization of cryptocurrencies can be $10 trillion in 20 years. That is over 25 times higher than the market capitalization now. The report also mentions that segwit and lightning network will prove to be very beneficial for bitcoin's scalability problem.
Do you think it is hype and the bubble is popping, or do you think BTC price will be above $40,000 in 2018?
I think bitcoin will be eventually used by big whales and big whales will push the price even higher to make sure only they can afford it.
Resteemed!
MOON!!!
I got a little carried away there. I don't think it is a "bubble", but there will be a TON of volatility. Most of the major corrections (or "crashes" as the news media likes to call them) happen when BTC is overbought. The price will dip about 30% and then increase substantially. Rinse, repeat.
I do think that we could see a dive all the way down to $5k this year, but we will also see record highs. My concern is more with the exchanges being able to support such a massive dive. The altcoins, although completely separate, are also going to be inevitably impacted by BTC's performance.
i think it could go to the moon but it will eventually pop
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