According to creator Nicholas Merten, the Bitcoin is expected to launch a price explosion later this year, citing four reasons why the “crypto-gold” will multiply its value and reach the $ 50,000 mark.
In 2017, the Bitcoin already experienced a veritable hype among private investors. Within a few months, its value was pushed from record to record – until the $ 20,000 mark was exceeded in December, followed by a rapid fall in prices. If it comes to YouTube star Nicholas Merten, the Bitcoin will soon outnumber this record by more than double. The Bitcoin is currently at about 7,600 US dollars, according to “CoinMarketCap”.
In his YouTube channel “DataDash” Nicholas Merten deals among other things with cryptocurrencies. The entrepreneur and crypto-investor, with close to 300,000 subscribers, recently announced via Twitter and YouTube his prediction that the Bitcoin will reach $ 50,000 per digital coin this year. His reasons seem to speak less for the Bitcoin, but rather against the classic financial world. Even from his own community, the influential creator reaps criticism for his assumptions, as some of the comments in his videos show.
Four reasons for the rapid increase in value
On the social network Twitter Merten published a list of his ambitious assumptions about the price development of Bitcoin, which he tries to support by four arguments. On the one hand, he assumes that rising interest rates will favor the increase in value. On the other hand, he speculates that Deutsche Bank should “go under” this year. He attributes another factor of influence to his assumption that both the stock market and the real estate market will experience a crash. As a fourth argument, he provides another assumption: The US Securities and Exchange Commission will spend according to Merten billion sums to establish a Bitcoin ETF.
– Interest rates will continue to rise
– Deutsche Bank will go under by the 2018
– Equities and housing prices will take a massive hit
– With trillions of $’s that need to exit, the SEC will create a Bitcoin ETF
Striking at this point is that all four arguments are not factors that explicitly speak for the Bitcoin, let alone be directly related to this. Although it is increasingly assumed that a financial crisis is imminent sooner or later – as the website “coincierge” reported – but it remains questionable whether this will come in 2018.
Bitcoin as a hope?
In spite of the numerous assumptions of the YouTuber, it remains to note that the bullish opinions regarding the Bitcoin pile up: Also Rodrigo Marques believe in a new increase in value, which should raise the veteran among the digital coins back into the five-digit range. The CEO of Brazil’s largest cryptocurrency trading platform sees the digital coin at its former high of $ 20,000.
But that’s not all: even the institutionalization of the crypto-gold is already mentioned. Even the US investment house Goldman Sachs apparently to file at a trading desk for the cyber currency. Furthermore, it is assumed that conventional trading venues like, among others, NASDAQ want to offer cryptocurrencies in the future.
But even if the Bitcoin seems to gain more and more reputation among the institutional investors, it remains doubtful that the speculative assumptions of Merten, if they come together, could actually trigger such a price explosion.