"The bitcoin could reach $ 50,000 this year"

Jeet Singh, an investor who has been operating with cryptocurrencies for more than 6 years, told RT during the International Economic Forum in Davos (Switzerland) that the value of the bitcoin "could reach $ 50,000 in 2018".

Singh argues that the volatility of cryptocurrency is something completely normal because its total capitalization volume barely exceeds 500,000 million dollars.

He also states that there is a speculative bubble in the cryptocurrency market because "those who started recently in this world are losing money". However, as he points out, those who have been operating with them for a long time are calm, because they are used to having their value change in this way.

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The investor explains that cryptocurrency "is rated differently depending on the country." The bitcoin is considered a product in the US, while in Switzerland it is classified as a currency. "For me, it's much more than a coin," he said.

Currently, the price of a bitcoin is around 11,300 dollars after losing close to 50% of its value in just one month.