BTC$57 397.14


ETH$4 325.04


Binance Coin








Government issued bitcoin bring its end?

22 Dec 2017


Will Government issued Bitcoin Bring its End or Will Speculation?

With bitcoin breaking through the $19,000 – the question of 2017 seems to be “Is bitcoin a bubble?”. Every new record high and new level it broke through even more analysts joined the bubble party – which is not as fun as it sounds. Let’s break it down though and see what constitutes a bubble and which of these tendencies we have seen with bitcoin’s super-bull run (if you allow me to be a bit superfluous).

There seems to be a slight level of delusion when talking about a bubbles – i.e. “Come on! What could possibly go wrong?”. Like the dot com bubble, the excitement for this new technology fueled the rally, which I think is common thread we are seeing with bitcoin. Market darlings like Amazon and eBay, proved that there was definitely a reason for the excitement and as we know today – both those companies redefined the retail industry and actually created a paradigm shift that traditional corporations were forced to follow. In fact, some retailers resistance to adapt to this new model might have brought their downfall.

Is there a parallel we can draw from this? Of course, the item that seems recession-proof, is innovation. That’s ultimately why Amazon and eBay survived – not because they were part of a new technological wave, but because they used the available technology and built an innovative and viable business with it. This is probably why bitcoin is so confusing to certain analysts that have been shrugging their shoulders every time bitcoin jumps. In concept the idea of a decentralized, non-government issued currency, based purely on calculations, seems practically utopian. The technology behind it – blockchain – has been cited by Mark Cuban as the future of transaction tracking technology. 

After that uplifting message though let’s wind it back and speak about the fact that the development of profit-driven speculation, artificially inflates the market/industry that inarguably has solid technology and innovation behind it, we saw it with venture capitalists during the dot com bubble, we saw it with the same venture capitalists dumping money into real estate causing another bubble (or at least that’s what some analysts assumed) and we’ve seen it now, without the bust of course – with bitcoin.

Bitcoin undeniably has intrinsic value, people are trading it for goods and services and governments are considering issuing coins that equate to bitcoin value in the local currency. This could be a renewed threat for bitcoin’s longevity, since as we’ve seen with the bitcoin gold fork – in which a segment of the community backed a fork in the cryptocurrency because they believed that mining had been concentrated in the hands of a few mining companies thus making it prohibitively expensive for individuals to mine the cryptocurrency - there still exists an ideological base (and divide) that believes and supports bitcoin’s de-centralized status. Another proposed fork could push the crypto into a tailspin, as it did when it split in the past falling respectively – 71% in 2013, 49% in 2014, 36% in the summer of ’17 and 37% later that year (although this was caused under the threat that China would prohibit or regulate cryptocurrencies).

Back to the speculative market though – bitcoin seems to be checking checkbox after check box when it comes to the patterns bubbles follow, which according to Forbes which sites Minsky’s Theory of Financial Instability:

At this point in bitcoin’s history I will apprehensively say that we may see the implosion of bitcoin if governments go ahead with issuing currency which equates to the cryptocurrency, if the rumors hold true, and the reactionary fork that the community might propose and enact to create to avoid this. No matter which direction it goes bitcoin has far outreached both its intrinsic and rational value, indicating according to Minsky’s theory that it’s prick is quickly approaching. 



Cryptocurrencies to be tested this holiday season
Cryptocurrencies to be tested this holiday season
A lively backdrop to trade Crypto
A lively backdrop to trade Crypto
The crypto market fall resumed
The crypto market fall resumed
Bitcoin clings to $56K as whales keep buying
Bitcoin clings to $56K as whales keep buying
Cryptocurrencies: Is winter coming?
Cryptocurrencies: Is winter coming?
Will Bitcoin hold $60K? Leverage shakeout close to complete
Will Bitcoin hold $60K? Leverage shakeout close to complete
What are the next levels to watch for crypto
What are the next levels to watch for crypto
Bitcoin edges lower as advance in major cryptocurrencies slows
Bitcoin edges lower as advance in major cryptocurrencies slows
Bitcoin has likely become too
Bitcoin has likely become too "noisy"

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 77.6% 42 $57 397.14 5.51% -0.13% $1 084 001 374 692 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 78.8% 32 $4 325.04 6.69% 3.38% $512 656 495 446 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 73.6% 53 $609.29 4.33% 7.07% $101 630 227 689 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 96% 1 $1.000997 0.02% -0.01% $73 194 134 956 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.2% 65 $203.84 7.44% -8.23% $61 976 513 439 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 68.8% 60 $1.59 5.99% -11.72% $52 852 892 795 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 74.8% 51 $0.987767 7.45% -5.41% $46 582 102 093 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 91.2% 2 $0.998878 -0.13% -0.10% $38 347 542 030 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 62.4% 75 $36.25 8.95% -9.51% $35 798 276 399 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 61.6% 74 $0.205694 2.60% -7.52% $27 214 125 290 DOGE 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 62% 75 $112.35 3.84% -16.51% $25 147 340 195 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 63.2% 77 $0.000039 3.61% -9.86% $21 537 353 661 SHIB 7 days price change
13 Chain (CRO) CRO Chain predictions 57.2% 90 $0.766272 1.87% 10.94% $19 358 331 922 CRO 7 days price change
14 Terra (LUNA) LUNA Terra predictions 62.8% 72 $49.02 8.15% 18.38% $19 258 363 664 LUNA 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 78% 46 $56 525.74 5.34% -1.06% $14 327 926 572 WBTC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.