Deutsche Bank: Bitcoin is One of the Major Market Threats of 2018!
December 9, 2017
Germany's largest financial conglomerate Deutsche Bank published a list of the main financial threats of 2018 on its website. The report, compiled by the chief economist of the bank, Torsten Slok, enumerates 30 potential problems that the world will face next year. Along with the situation in North Korea, Brexit and the election of the "new" president of Russia, Slok has mentioned Bitcoin.
Including the cryptocurrency in this list is another sign that the banking sector, in spite of scrutinizing its development, does not consider further prospects of the currency favorable for its activity.
Deutsche Bank is a global company with more than 100,000 employees at its headquarters. Despite some disputes arising around the bank from time to time, it is still one of the key players on the world financial market. And if a representative of Deutsche Bank makes a statement about possible threats on the economic field, the investment world will undoubtedly pay attention to it.
The main problem of the popular cryptocurrency, according to Slok, is that novice users risk losing all their investments in case of the possible sudden collapse of BTC .
Last Thursday, Deutsche Bank in its presentation on the cryptocurrency, outlined:
"We consider cryptocurrencies as extremely risky investment targets, since the cost of each of them is caused by speculation. The volatility of these currencies is very high, and their sector, as a rule, is not regulated. Therefore, in our opinion, there is a high probability of investors' losing their funds on this market."
It should be noted that a similar list has recently been issued by another authoritative bank - the Danish Saxo Bank. In the report called "Shocking Forecasts," the bank's representatives predicted that in 2018 Bitcoin's rate would soar to $60,000, after which it would crash down to $1,000 per 1 BTC.
"The growth in the value of the cryptocurrency market can definitely be considered one of the most exciting phenomena of this year. Bitcoin will continue to climb, but when Russia and China take control of it, its price will fall sharply," Saxo Bank's analysts believe.
The full list of the potential market threats of 2018 is presented below.