Friday, 16 February 2018

Bitcoin Foundation’s Llew Claasen Says Bitcoin Will Hit ₦14.6 Mln ($40,000,) 90% Of Altcoins Will Fail

The executive director of the Bitcoin Foundation Llew Claasen predicted that the buying price of Bitcoin will hit $40,000 by the conclusion of 2018, while 90% of 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 undoubtedly be due to investors taking an excessive amount of risk buying cryptocurrency projects which later prove to be scams.

Merely a month and a half into 2018, five major Initial Coin Offering (ICO) and cryptocurrency scams have been discovered, like the notorious case of Bitconnect.

Claasen is certain that the cryptocurrency community will study from these unfortunate occurrences and will have a way to stop them in future, as he told Business Insider. Claasen believes that investors are actually being more careful, declaring that “this is a problem the market is good at solving."

As Claasen further explained, Bitcoin won't be gradually growing to the worth of $40,000 on the length of 2018. Instead, it will undoubtedly be bouncing for three to half a year with the exact same ups and downs as during the last three months.

Just this Tuesday, the CEO of Ripple Brad Garlinghouse similarly said that many virtual currencies will probably head to zero, as reported by Business Insider.

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