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sterling silver wholesale jewelry supplies Based on Goldman Sachs Group Inc. Investment, investing in the global supervisor Steve Strongin, the market value of cryptocurrencies has evaporated nearly $ 500 billion in the past month, and the situation may become worse.
strongin wrote in a report on February 5th that most digital currencies are unlikely to exist in the current form. Investors should be prepared for these currencies to lose all values because they are one of them one of them. A small part of the future competitors replaced.
Although he did not give a time framework on this situation, he said that the recent price fluctuations indicate that there is a bubble, and the trend of different currencies is unreasonable.
On February 6, Bitcoin fell below $ 6,000, with a minimum of $ 5920, the lowest since mid -November.
(Bitcoin Price Chart Source: Bloomberg, FX168 Finance Network)
According to the data of Bitstamp Exchange, Bitcoin once soared in 2017, and the price in December last year was as high as $ 20,000. However, the price of Bitcoin fell sharply this year due to concerns about global regulatory blows.
strongin said: "The height relationship between different cryptocurrencies makes me worry. Due to the lack of inherent value, the value of those currencies that cannot survive may become zero." Slow, safe challenges and maintenance costs, today's digital currency lacks long -term durability.
strongin pointed out that the introduction of regulatory Bitcoin futures did not solve these concerns. In addition, he did not bother to the so -called first -mover advantage, saying that in the late 1990s, few people in the Internet bubble could survive.
This said: "Is today’s cryptocurrency or Google or Google, or is it like many search engines that are no longer now?" Strongin predicts that most cryptocurrencies may never return before it can be returned. The peak level.
strongin is more optimistic about the blockchain technology of digital currency, saying it can help improve financial ledger.
But even so, he also issued a warning saying that the current technology has not yet provided the speed required for market transactions.
The Nobel Prize winner Robert Shiller warned on January 23 that Bitcoin "may collapse completely and forgotten, and I think it is a possible result."
Schiller said that he reminded him of "the tulips that occurred in the Netherlands in the 1640s" and "unless people can form some consensus on their value, Bitcoin is worthless."