Llew Claasen: Bitcoin will hit $ 40,000. Llew Claasen who is the executive director of Bitcoin foundation recently stated that he expected Bitcoin to hit $40,000 by the end of this very year. He further added that 90% of the cryptocurrencies will actually fall.
According to him, most of the cryptocurrency projects will actually turn out to be scams. Many of the management will not be able to control the risk involved in cryptocurrency projects. This is the reason why the majority of the cryptocurrency tokens will actually turn out to be scams.
According to him, within a couple of months of 2018, there have been at least 5 cryptocurrency scams which have been already detected. He thinks that there are more to add to the list.
Lessons for the cryptocurrency community:
He further adds that this is actually a lesson for the cryptocurrency community. With the increased safety as well as precautions, it will be easier for the cryptocurrency experts to learn from these mistakes. Moreover, the exchanges will also be able to learn from these mistakes which will ensure that the cryptocurrency community becomes much more secure.
According to him, by the end of this calendar year, Bitcoin will be trading around $ 40,000. He further added that there will be a significant amount of volatility before Bitcoin actually hits those levels. It seems like, many of the investors, as well as cryptocurrency enthusiasts, are actually positive about Bitcoin in this very year. The problem is that with a significant fall already seen, most of the retail investors are not pumping money into Bitcoin. This is the reason why the movement is not that strong currently when it comes to Bitcoins.
With increasingly positive voices coming out in favor of Bitcoin, it remains to be seen whether it will actually increase in value significantly until the end of this year or whether it will remain around this levels. Many of the other cryptocurrencies have been consistently rising in the past couple of weeks. This is the reason why investors are again turning bullish on cryptocurrencies and think that they will increase in value further. Many of the enthusiasts are actually predicting higher peaks as well as newer peaks for the cryptocurrencies. It remains to be seen whether Bitcoin will indeed be able to rise to $ 40,000 in the current calendar year or not. For now, however, it looks like a pretty tall prediction as the currency has just now crossed $ 10,000.
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