Chief Investment officer at Bleakley Advisory Group Peter Boockvar believes that bitcoin will exist for a long time, but its price will drop significantly when the bubble bursts.
According to Boockvar, in the current year the price of bitcoin will decrease by 70-90%. At the same time, citizens of the United States, South Korea and Japan, borrowing money for crypto-investment, will have a rough time.
So, who’s right?
Boockvar believes that the growth of cryptocurrencies is due to the policy of light money carried out by central banks, which actively use their printing machines. Because of this, digital currencies, in particular bitcoins, are becoming more attractive for a common investor, since they have a limited amount of emission.
Economists have long wondered whether bitcoin is a bubble, and if so, at what stage it is located. So, Nobel laureate Robert Schiller in September last year brought bitcoin as a reference example of a bubble. He recently noted that the cryptocurrency will see its “complete collapse”, even if it can survive for a hundred years.
Smart-Vision EQ from Mercedes-Benz demonstrated its unique opportunities at the recent CES 2018 show in Las Vegas. It was first shown at the Frankfurt motor show in September. Engineers have completed autonomous control systems and connectivity options. The result was a car built on the platform Smart Fortwo, which is capable of winking at pedestrians. Moreover, it has the fifth autonomy level and welcomes passengers by their names.
Thanks to the fifth autonomy level, the car does not have a steering wheel and pedals in the cabin. Mercedes says that the concept is not intended for sale to private individuals. Instead, it will be a part of the fleet of autonomous cars of the future. The company sees that in a few years such cars will come to the destination and greet their passengers by their names. They will get to know all the information needed through to the connection service between cars-taxi data and photos.
As soon as the passenger has been taken to the destination, Smart Vision EQ politely bids him farewell. An interesting feature is the car’s equipment with hygiene products. Therefore, people can, while in the salon, for example, clean their hands or have lunch.
Mercedes has updated the front display with the image of the Las Vegas Strip Boulevard, which was installed by default. During the show, he made several short trips at a distance of about 500 metres. For passengers it was absolutely new and exciting experience riding a car with the fifth autonomy level.
However, the trip was not absolutely autonomous. A technician controlled the car through the remote control. The manufacturer has not risked the safety of people in such a crowded place yet. However, the experiment gave a clear idea of what the traffic would be in the near future.
A month and a half ago, thanks to the active growth in the value of Bitcoin, the Winklevoss brothers became the first dollar billionaires who were able to get such an impressive fortune due to the increased exchange rate of the cryptocurrency. Then, when the cost of bitcoin reached $ 20 thousand, their financial position almost doubled. But the subsequent decline in the rate of cryptocurrencies led to the fact that in one month the Winklevoss brothers lost nearly $1 billion dollars.
The brothers have in the wallet about 120,000 bitcoins
A month ago, on December 17, when Bitcoin’s price exceeded $ 20,000, the value of their assets was approximately $ 2.4 billion. But exactly a month later, on January 17, the value of the crypto currency decreased to $ 10,000.
Accordingly, the financial condition of the Winklevoss brothers also decreased twice. At this time, the cost of bitcoin is about $ 11.5 thousand. Consequently, the assets of brothers in the cryptocurrency are estimated at $ 1.4 billion, $ 1 billion less than at the peak of value.
At CES 2018, Furrion introduced quite a bizarre machine. Guests of the event took her for a fighting robot. Nevertheless, in fact, the machine is not intended for combat. This is a huge exoskeleton, which a person must control within the cabin. The movements of the machine will depend entirely on the human commands. It is known that it is almost 4.5 m in height, 5.4 m in width. Prothesis weighs about 3600 kg. Co-founders Furrion Matt and Aaron Fiedler told CES that the name of the mechanism was Prosthesis. Moreover, they are sure the mech race is going to be a real kind of sport in the nearer future.
A New Kind of Robotsport
They was mulling over the opinion of analysts that the future of sports depends largely on robots for a long time. They are sure that nowadays such giant objects are exactly relevant. So far, the mechanism does not move too fast – less than 36 km / h. Moreover, it depends on how the operator sets the limits. The founders explained that the moves come from the reinforcement of the pilot’s movements, without any control panels or joysticks. The frame is made of chrome steel – a highly effective alloy used in the aerospace industry.
Engineers said they were inspired by the projects of Jonathan Tippett, who had already tried to make a 4,000-kilogram machine move with the human inside it. Then there was no issue of racing. Furrion decided that the next step would be to build the improved mech to run the first trial race.
Furrion is going to continue innovating with the creation of smaller and more flexible mechanisms. The inventors also said that the team would produce a model that could be bought for racing.
In 2016 Google released the Arts & Culture application for Android and iOS, which provides access to a database of works of art from museums of 70 countries. This month, the application received an update, which quickly brought the software to the first place in the ranking of free applications of the American AppStore.
This update brought a fun feature called “Is your portrait in a museum?”. It compares the user’s selfies with 70 thousand works of great artists and sculptors. The function uses the facial recognition algorithms.
Find your twin
For now, the function “Is this your portrait in the museum?” Is available only in several countries. In social networks, you can already find many images with examples, both from ordinary users and celebrities. Among them the great park are jokes. Here are some of them:
Until recently, the Bitcoin rate was around $ 15,000, occasionally increasing or decreasing. But after the news about a possible ban on trade of cryptocurrencies in South Korea and the termination of mining in China, the cost of cryptocurrency began to decline. This morning the Bitcoin’s exchange rate dropped below $ 12 thousand. So, over the last week, the cryptocurrency lost about $3 thousand.
The main key for investors is to stay calm
Over the past year, bitcoin has fallen sharply several times. But after the falls, the currency usually returned to growth and topped its historical highs. However, the last time Bitcoin jumped very high up to $20,000 – on December 17. This is not the fact that the currency will ever be able to beat this record, especially after the recent changes in the market.
In addition we note, that along with Bitcoin, the price of almost all cryptocurrencies falls down. That is, the whole market of cryptocurrency follows a downward trend. At the time of writing these lines, the global capitalization of all cryptocurrencies is $540 billion.
During a public press conference, the South Korean spokesman of presidential administration, Jeong Ki-joon, confirmed that the country’s authorities are not going to ban the trading of cryptocurrencies in the near future.
In an official statement, Jong said that the government has formed a specialized working group. Their task will be to rework the proposal of the Ministry of Justice for a complete ban of the cryptocurrency trade. They also will create the regulatory requirements that will regulate relations in the digital assets market.
“First, the South Korean government will pursue the crackdown on anonymous cryptocurrency trading accounts and will punish market manipulation, money laundering, and fraudulent transactions through joint investigations participated by the local law enforcement and financial authorities.
Second, the cryptocurrency trading ban proposal introduced by Justice Minister Park Sang-ki was a suggestion made by the Justice Ministry on December 28 to bring speculation within the cryptocurrency market under control. The proposal will be discussed and changed by the task force participated by the Ministry of Strategy and Finance, central bank, Fair Trade Commission, and other agencies.
Third, excessive speculation and fraudulent activities will be met with severe consequences. But, the government will support and even finance blockchain technology development.”- read Jeong.
Major South Korean trading platforms, including Bithumb and Korbit, reacted positively to the government’s new proposals. A representative of Bithumb for Yonhap News noted that the recent legislative initiatives will make the market of cryptocurrency more transparent, honest and stable.
Share your thoughts on this with us.