Cryptocurrency - Special
Head of Global Investment Research Goldman Sachs Group Inc. Steve Strongin estimates, the exchange rate virtual currency (cryptocurrency) can lose all its value in some time to come. Strongin said the estimate was based on a virtual currency exchange rate cut over the past month to $ 500 billion. He also predicted, the popularity of virtual currencies such as Bitcoin, Ripple and Ethereum will be replaced by a new type of exchange tool. Nevertheless, he did not specify the estimated time, when nilaicryptocurrency lost its value. "Due to the lack of intrinsic value, the currency that is not able to keep its users or enthusiasts is likely to be re-traded to the lowest point of zero," he said, as quoted by Bloomberg, Wednesday (7/2/2018). He also added that the current condition of the virtual currency that is unable to sustain its long-term value is the result of the deficiencies that have been denied by the actors of these new financial instruments. The shortcomings are a.l. transactions that are slow because they are not supported worldwide, low levels of security from hacking or piracy and high maintenance costs. "Will all of the current cryptocurrencies become Amazon or Google, or will they end up like so many other search tools that are now out of use? Let's see," he added. Nevertheless, Strongin did not rule out the value of the virtual currency will again crawl up more than its current level. Meanwhile, quoted from coinmarketcap.com, Bitcoin exchange rate reached US $ 8,191 on Wednesday (7/2) at 18:16 pm. The value rose from its lowest level since November 2017 on Tuesday (6/2) and then had reached US $ 6,048.