The latest predictions about Bitcoin’s Market value seems to be a bit unfortunate to the Bitcoin [BTC] followers. Though Bitcoin constantly stands on top with a Market Capital of $125.716 billion, the growth of its price has decreased dramatically over the past few months.
The fall of Bitcoin’s value has always been the highly discussed topic ever since December 2017 in the crypto community. The value of the cryptocurrency has climbed up and reached to $7413 as per today’s record published by AMBCrypto’s price data. However, the constant rise and fall of the value around the same range have depicted a negative opinion about the currency among several researchers across the globe.
According to some of the Swiss researchers, even the trending market capital of the cryptocurrency is predicted to be deteriorated by the end of this year. Considering a theory named Metcalfe’s law, these researchers have conducted their study which says that the market capitalization would not increase more than $77 billion, which is almost 35% of its current market capitalization based on its present value.
While the value was trending above $19,000 in mid-December, some of the top end exchange holding companies such as CME and Cboe introduced Bitcoin futures boosting expectations of increased institutional investment.
However, the Swiss researchers seem to be quite convinced with the aftermath of their research that the market value would fall down more than a third by December 2018.
The Swiss researchers say:
“Looking forward, our analysis identifies a substantial but not unprecedented overvaluation in the price of bitcoin, suggesting many months of volatile sideways bitcoin prices ahead (from the time of writing, March 2018).”
Also, it was noticed that most of the U.S regulators and major markets such as Japan and South Korea have significantly reduced their keen interest in evaluating Bitcoin since its fall. Although, one part of the Digital Currency proponents still say that Bitcoin can recover from the current situation and move notably higher and its blockchain technology can certainly make a difference in future.
Owen Wilson, a Twitterati says:
“Bullish sentiment being set in place. Demand side growing higher than the supply side. #Bitcoin and #Litecoin price is going up. Will it be today, tomorrow? Who knows- this is an emerging market. What I do know- #Crypto is gearing up to reach a wider audience than ever”
The post Swiss researchers have revealed the future of Bitcoin [BTC] – Does it favor the Bitcoin enthusiasts? appeared first on AMBCrypto.
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