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Saxo Bank Bitcoin Prediction for 2017

Today the Danish investment bank published its Saxo Bank Bitcoin Prediction for 2017, where it explains that wouldn’t be surprised if the bitcoin price will see huge growth during next year.

Saxo Bank, in fact, recently published its annual “Outrageous Predictions for 2017”, a list of speculations that represent its effort to get financial industry think about more possibilities and revolutionary projects for the next year.

In addition to the prediction that UK will not actually leave the European Union (EU) and that Italian equity prices will soar thanks to the European Union led bailout, Saxo Bank affirmed that the bitcoin price will reach a value of more than $2,100 by the end of 2017.

Among its reasons the prediction explained that the American President’s administration might cause turbulence in the American economy, so this can be a good reason for people to invest in digital currencies like bitcoin.

Saxo Bank Bitcoin prediction explains:

“If the banking system as well as sovereigns such as Russia and China move to accept bitcoin as a partial alternative to the USD and the traditional banking and payment system, then we could see bitcoin easily triple over the next year going from the current $700 level to +$2,100 as the block-chains decentralised system, an inability to dilute the finite supply of bitcoins as well as low to no transaction costs gains more traction and acceptance globally.”

Altough this Saxo Bank prediction doesn’t represent an official position, it is not the first bullish indication the bank has made during its career.

In 2014, then-current CEO Lars Seier Christensen explained his personal interest in bitcoin, describing it as a great opportunity for worldwide investors.

At the time, Christensen had also mentioned about early testing of the technology within Saxo bank, although later he explained that liquidity problems at the time were keeping banks on the sidelines.

Source: coindesk.com

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Amelia Tomasicchio