During the World’s Economic Forum in Davos, Switzerland’s financial analysts have made up their mind regarding cryptocurrencies. Accordingly, they said that, on the first hand, Bitcoin is not a stable currency and, on the other hand, Blockchain Technology is very useful but not for the money business.
Opinions during the Davos meeting are of a huge importance on the financial market as the World’s Economic Forum represents the meeting for the elites of the financial market. Moreover, this congress is setting the trending lines.
For instance, Robert Shiller, the inventor of a new national price index and 2013 Nobel prize winner, said at World’s Economic Forum that he is impressed by the blockchain technology.
‘And as it is spreading in certain quarters (referring to the blockchain technology), there are certain people who love it. But it seems to me it’s technology for something else. It’s gone viral as a currency. The blockchain is important but is not stable,’ Shiller explained.
Zhu Scott from Radian Partners went even further and said it: ‘Bitcoin is a very lousy currency!’
Actually, crypto fans theorized even before the Davos meeting started that the global financial elites will use World’s Economic Forum to downplay the blockchain technology.
However, looks that all those anti-Bitcoin manifestations benefit the Ethereum crypto coin.
Is it true that Ethereum investors will lose on the short-term as the market is possible to go bearish again, but on the long-term will benefit from all these anti-Bitcoin ‘campaigns’.
Even more, the crypto market analysts forecast that Ethereum will go up to $1,500 by the end of the year.
Some even more enthusiastic analysts predict a $4,000 price for 1 ETH by the end of 2020. However, such predictions are long-shot and shouldn’t be taken into consideration. On the other hand, who knows, ETH might go to the moon by 2020.
In conclusion, all the World’s Economic Forum’s anti-Bitcoin manifestation can benefit Ethereum which may bring big profits for long-term investments.
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