Roger McNamee shares his views in an interview with CNBC

American venture capitalist and early investor in Facebook, Roger McNamee believes that 2018 will be the year that will unveil Bitcoin’s actual potential. In a CNBC interview on Thursday, 28th December, he said he believed that Bitcoin’s significant rise in value this year was mostly a result of speculation, adding that the coming year will tell us more about the real value of the number one crypto-currency.

According to McNamee, Bitcoin has the potential to attract even more capital than it has so far, which can mean that Bitcoin will really become a major element of the global financial market.

“With the level of activity going on ... there are people that are willing to invest the kind of dollars it takes to make a thing like Bitcoin into a long-term part of the financial market ... The big thing about 2018 is that I think we’re going to find out one way or the other.”

A week ago the whole crypto-market experienced a substantial decline. It was followed by quick recovery but during the past seven days the crypto-market demonstrated its infamous volatility that is typical to this market.

McNamee says we are not done with volatility:

"You'll have these big swings, up and presumably down, as well. And, you know, wherever that settles out I think will tell us a lot about the role of Bitcoin long-term. I don't think it will be the end of the story either way."

Other analysts predict extreme volatility, too. Ronnie Moan, well-knows stock analyst thinks Bitcoin can rise to a $28,000 high next year, while Dr. Julian Hosp, the co-founder of TenX says the price can move dramatically in both directions. He says Bitcoin price might fall to $5,000 but it may hit $60,000, too.

Let’s wait to see what the new year brings.

Source: https://cointelegraph.com/news/2018-will-determine-bitcoins-long-term-role-says-early-facebook-investor-mcnamee

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