THE LATEST Bitcoin shock prediction could be good news for cryptocurrency investors if it manages to rid the money of one of its biggest flaws, it has emerged.
David Chapman, a cryptocurrency entrepreneur based in Hong Kong, boldly forecast that Bitcoin will definitely be regulated in the future.
He said: “Everyone says crypto is so bad, but there’s no difference between this and any other time when people have gone into something new.
“Is it new? Yes. Does it need to mature? Yes. Will it be regulated? Yes.”
Regulation could be one of the biggest boosts for Bitcoin investors, according to experts.
A recent document by Denmark’s Danske Bank, the country’s largest, highlighted the lack of consumer and investor protection.
It added that virtual currencies are also a “target for criminal purposes”.
However, regulation could be a turning point for such criticisms and allow Bitcoin to flourish.
Such actions from the renowned Danish bank could be a reason for a plunge in Bitcoin prices recently.
In the last month the cryptocurrency has plunged by 36.81 per cent.
This shocking fall has eclipsed almost $4,000 from its value.
Bitcoin is currently worth $6,799.30 at the time of writing.
Despite predicting that the cryptocurrency will be regulated as it matures, Mr Chapman emphasised that one of Bitcoin’s greatest features is the fact it lacks a “central authority”.
He explained: “One of the really fascinating things that kept me coming back to bitcoin when I first saw it, is that there was no central authority.
“That means no one can stop it. A bank can’t stop it. A dictator can’t stop it. Parents can’t stop it.”
The crypto entrepreneur stated that although the world of virtual money continues to add further currencies for investment, Bitcon remains “the central reserve currency of crypto”.
Thanks to a huge price hike in December that saw trading values reach over $19,000 Bitcoin has marked the last year with a value rise of 491.31 per cent.
But cryptocurrency markets are extremely volatile in nature and constantly fluctuate and caution is advised before investing.
Read more at: