Cryptocurrencies are hogging the limelight for quite some time in print and digital media, scaling new high and low especially its volatility. Most people do not understand what these digital assets are, but are tempted to try their hand just because friend, relative or neighbor made huge profits out of it.
While many experts and media are predicting that golden days of Bitcoin are over. Should you or should you not jump on the bandwagon is a billion dollar question.
G-BiT X a hack-proof new exchange of Bitcoin is upbeat on future of cryptocurrencies. Mr. Jeet Singh, portfolio manager spoke to RT at Davos Economic Form that Bitcoin may hit $50,000 earlier than expected. Many experts are predicting Bitcoin may hit $50,000 by this December 2018 or by the beginning of next year. According to Mr. Singh, cryptocurrencie’s market capitalization is above $ 500 billion and volatility is nothing new in the field.
Mr. Singh cleared that “suffering period of volatility” will be there as Bitcoin approaches $10,000 mark. He also compared bitcoin’s volatility with the initial period of Apple and Microsoft shares went through. According to him, the market was not matured enough during that time. He also warned investors that they can expect fluctuations in cryptocurrencies and especially Bitcoin by about 80 percent or so which is quite common.
Volatility in cryptocurrencies is one of the most debated topics. It has seen the record high of $19,300 and within few weeks its value decrease by almost 50 percent.
One hour discussion at Davos Economic Form on “The Crypto – Asset Bubble” there were many supporters of Bitcoin. Notable among them were Niel Rimmer, co-founder of Index Ventures SA and Jennifer Zhu Scott of Radical Partners who spoke at length on Bitcoin and its future. Niel was of the opinion that Bitcoin was “completely trustworthy with no central authority”.