Different experts have been voicing their opinions about Bitcoin fate in 2018 and onwards. Bitcoin could sprint to $100,000 in 2018 is the one version by Pro-Bitcoin experts such as Kay Van-Petersen, an analyst at Saxo Bank where as some top industry investors, experts like Warren Buffett have already declared it as nothing but the bubble.
Well, it is not possible to forecast this cryptocurrency fate as previously we have seen Bitcoin bouncing back from the woods when analysts predicted it may be gone for good.
Benjamin Quinlan, chief executive officer and managing partner at Quinlan and Associates believes Bitcoin’s glory march is about to end in 2018 and signs are already beginning to show. According to him, the Bitcoin’s price will burst in 2018 as it is struggling for some time to become mainstream currency.
Despite of the fate Bitcoin may face, other cryptocurrencies will not only survive but gain the popularity equal to Bitcoin as experienced in the last year.
We think that various forms of cryptocurrencies will survive and will do very well.
We think that cryptocurrencies with potential applications and utilities such as ethereum or ether, smart contracts can be built on top of it, decentralised applications.
Bitcoin in its current form can’t do that. – Benjamin Quinlan
In an interview with Bloomberg, reported by Express UK, Mr. Quinlan also said;
If the market basically turns its back on bitcoin this year it will really fall out of favour.
If we look at, and we drew an analogy and I’ve spoken about this before to our clients, it really is if you equate the blockchain technology to something like the internet.You look at the underlying applications of it, social media is just one application of the internet whereas cryptocurrencies is just one application of the blockchain.