January 24, 2019 | Investopaper
The founder of BCG Digital Ventures, Mr. Jeff Schumacher, stated that the price of bitcoin could slump to zero when he was debating over the future of the cryptocurrency based on the blockchain technology. He is a big investor in blockchain-focused companies.
Another panelist said that the bitcoin in the future may be only focused on being a store of value. All other panelists also agreed that the value of the tokens will be based on the usefulness of the underlying technology known as blockchain. Ripple CEO expected more adoption of blockchain in the next five years.
Similarly, one of the panelists Edith Young said that she sees that blockchain will have quick adoption in developing countries of Asia as compared to the US and Europe. She said that people in developing countries will look for blockchain enabled payments in the absence of credit cards and other infrastructures for payments.
Bitcoin, the leading cryptocurrency of the planet has lost huge market value in 2018 and the decline has been continuing in the recent day. The price of the bitcoin stands at around $3560 this Wednesday.
In 2017, the market value of the bitcoin reached the record high with one bitcoin gaining a value of $19783.21 on December 17. Cryptocurrency valuation decreased by$480 billion in 2018 hinting an uncertain future for the investors in digital coin.
One of the issue for bitcoin is that the transaction cost for the users is high and the speed of transaction is also slow.