The bitcoin market worries experts
At the moment, the value of bitcoin is sky rocketing due to the rising demand of the cryptocurrency. This has led many experts to believe that a fall is expected in the market soon. Currently, Bitcoin is preparing to reach a new record as it is on the journey of going from $4,031 to $4,500.
Bitcoin value has increased by 60% in the past month and experts are predicting that something could go very wrong in the market.
The reason behind bitcoin’s drive to such high notes is that a larger number of people have begun to obtain bitcoin and this increased demand has led to increasing the market capitalization of the cryptocurrency.
The head of investment strategy at Black Rock, Richard Ternhill, recently commented on the Cryptocurrency Exchange situation as “terrifying”.
In the meantime, Goldman Sachs specialists predict that the bitcoin price is expected to experience a sharp drop and its duplicates would downfall to zero. They are expecting the price to drop to $1,800.
Story Credits: marketsmorning.com
Image Credits: shutterstock.com