What will happen to Bitcoin in 2018? Will the bubble burst? - ANALYSIS

Baku. 19 December. REPORT.AZ/ What will happen to Bitcoin in 2018? This question is still mysterious for many people. Some think that it will suddenly become cheaper, but others on the contrary believe, this crypto-currency has opened a new era in the history of money. What is the crypto-currency in deed and not in name? Soap bubble, or real money? Report News Agency tried to find the answer to this question.

What do Azerbaijani experts think about it?

The economist Samir Aliyev said he has been following the bitcoin since 2009. According to expert, the bitcoin is a great threat to the economy of any country. I consider bitcoin as a commodity, not as a currency”, expert said.

He thinks that bitcoin will not rise in next years: "In my view, this "bubble" can damage many investors in near future”.

Samir Aliyev said that economists and international organizations are skeptical about this issue: "I think bitcoin will face a price drop one day", expert said.

Expert economist Samir Aliyev

But not all Azerbaijani experts think so. Thus, economist expert Vugar Bayramli stated that in any case, the bitcoin's virtual currency era was the beginning. Regarding the future of this crypto currency, he said that the future of the bitcoin would have two scenarios. According to the initial scenario bitcoin that increased 17 times in the last one year is a serious concern. Thus, if it grows in subsequent years at current pace, it will be obvious that it is nothing more than bubble. According to him, if the price will remain stable over the next six months, monetary unit will be justified.

Expert economist Vugar Bayramli

What do foreign experts say about the fate of bitcoin?

Commenting on the bitcoin, co-founder and General Producer of the Blockchain project Evgeny Glariantov said that bitcoin is a virtual analogue of gold in the market. In his opinion, this factor also causes the price increase of this crypto currency. For investors, bitcoin is now the most secure storage place among the crypto currencies. At present, many investors are trying to take advantage of bitcoin's price volatility, he said. According to Evgeny Glariantov, the price of Bitcoin can reach $ 100,000 in next two years.

Evgeny Glariantov, creator of the blockchain project

According to Dmitry Matsuk, co-founder of the Blockchain.ru, the bitcoin will cost $ 40,000. In his view, bitcoin's access to the Korean stock market and the launch of bitcoin futures in the US and Japan will result in the emergence of institutional investors. Institutional investors have a great deal of money in the market and thus manage the market. He said that these investors will still be able to keep the market invisible for a long time.

Head of the US Central Bank Janet Yellen.

Head of the US Central Bank, Janet Yellen also said that Bitcoin is speculative. Fed Chairperson: "Bitcoin is currently playing a very small role in payment systems. It does not have a stable value source, it does not have any guarantees, it is quite a speculative asset. It has no regulator. Banks need to be convinced that the participants in this market have not violated confidentiality and anti money laundering laws together with regulators”, he said.