Recent articles claim bitcoin will continue to drop, become stable at roughly where it is, or take off like a rocket. If the window of time for the analysis is small enough, perhaps all of the predictions can be claimed as correct. After all, volatility of bitcoin has been intense. Here is Bloomberg’s prediction for growth and declining volatility:
”Breaching resistance should be a matter of time,” Mike McGlone, an analyst with Bloomberg Intelligence, wrote in a note this month. Increasing adoption and its limited supply could push its price higher in 2020 and over the next decade, he said. “The maturation process should continue, notably as volatility declines.”
Exchanges continue to be hacked on a regular basis, while some have proven to be scams so buyers beware. However, bitcoin will continue to be used as an alternative payment system by black markets and by countries that need to avoid sanctions, so the currency is likely to remain relatively strong, but for all the wrong reasons.
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group
