According to Saxo Bank’s latest prediction, bitcoin will reach $60,000 in 2018, then crash more than 98 percent to $1,000 per bitcoin.
“Russia and China will together engineer a crash”
“The rise of Bitcoin and other cryptocurrencies has been one of the most spectacular phenomena of financial markets in recent years,” two Saxo analysts write. “Bitcoin will continue to rise – and rise high – during most of 2018 but Russia and China will together engineer a crash.”
According to this prediction, the king of cryptocurrency market, bitcoin will rise 400% from it’s current level to peak $60,000. That means it’s market cap will reach to $1 trillion.
“Bitcoin will decrease to $1,000”
However, the continue of the prediction is not that good for bitcoin enthusiasts. China and Russia will create their own state-backed cryptocurrencies and ban mining. This is the outrageous plan of Russia and China to bring bitcoin down to $1,000.
Of course these are just “predictions” of Saxo Bank. However never forget Saxo did foretell huge hains for bitcoin in last year’s prediction.