A team of researchers from the Federal reserve Bank of St. Louis presented its forecasts for the implementation of the three scenarios for the future of BTC. According to David Andolfatto (David Andolfatto) and Andrew Speaka (Andrew Spewak), he will either face massive demand and will rise in price due to limited supply, or will collapse, and most likely will go in the medium variant development.
In this presentation, researchers have linked negative trends around the price of bitcoin with the growing popularity of altcoins, which displace it from the investment portfolios of users and can demonstrate technological superiority.
However, the authors believe that zero BTC will not fall, because its fundamental basis – easy accessibility and decentralization has its value. In addition, those who invested in bitcoin prices rise, now it will not break up, and some cryptoanalysis didn’t plan to do it in General – that also keeps the price from falling. At the moment, analysts say, bitcoin is trading above fair value, which is typical of many securities, for example, gold.
We will remind, in the summer of 2018, Federal reserve Bank of St. Louis has added information on price movements of bitcoin, Bitcoin, Cash, Litecoin, and Ethereum for the period from 2014 economic data in the FR (Federal Reserve Economic Data, or FRED). And earlier the head of the institution , James Bullard (James Bullard) said that the fascination with wall street digital currencies could lead to chaos in some segments of the U.S. economy, if banks and companies will begin to issue its own cryptocurrency.