Top Manager of Goldman Sachs: most altcoins will slide to zero

On wall Street continue to receive contradictory opinions regarding the future of cryptocurrency. While some experts predict an increase in value of bitcoin dozens of times, others are very skeptical and predict that the majority of cryptocurrency, if not complete collapse, the state is very close to it.

Most of the existing cryptocurrency will not be able to survive in the form in which they now reside, and therefore, investors should be prepared for the fact that they will depreciate to zero — the Director of the Goldman Sachs global investment research Steve Strongin (Steve Strongin).

Such assets will replace the small group of new competitors, the expert explains, however, its alarming high degree of correlation that exists between different scriptactive. Unlike conventional market, the emergence of new digital currencies does not reduce the value of existing prices may move in parallel.

According to the analyst it is impossible that «the winners were all cryptocurrency», there will be some consolidation in which the cost is losing popularity tokens may slide to zero, leaving investors with nothing, said Steve Strongin.

Modern cryptocurrencies have short life because of a very slow transaction, security problems and large maintenance costs, added Steve, and the introduction of futures on bitcoin will not save the situation.

«Whether any of the current cryptocurrencies to follow the route of Amazon or Google – or they will finish their way, like the disappeared search engines? The fact that we are in a speculative bubble, does not mean that the current rate may increase for the remainder. At the same time, it follows that most, if not all cryptocurrencies will not return to their recent highs,» explained Goldman Sachs analyst.

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