According to Altucher, in the history of humanity, there are several major changes to the currencies: gold replaces the barter as a currency for transactions, banknotes shift gold as a means of saving value, and now the bitcoin and other cryptocurrencies are supposed to replace paper money as a currency for transactions.
Every type of currency solves the problems of the previous generation of currencies, the expert says.
1. Soon, at least one country’s cryptocurrency – perhaps Argentina or Venezuela – will collapse. This will lead to a massive Bitcoin shopping which in turn will make the bitcoin price to rise by more than $ 50,000.
2. The major banks will accept bitcoins and will start offering storage and software access. Because people will start to be more curious about the blockchain , the technology behind it and how they enter the “blockchain world”.
3. Despite optimism, 95% of all altocoins (alternative coins) are expected to disappear. Those who will remain will significantly increase their value.
4. The US government will secretly begin to accumulate one of the smaller cryptocurrencies to facilitate the gray-zone transactions with other countries. This has already begun, but it will increase significantly in 2018 and 2019.
5. China will invest in a lot in crypto’s but it will probably not be bitcoin. Beijing will want to have their own cryptocurrency that can compete with bitcoin.
6. A major problem with cryptocurrencies is their instability. One of the major cryptos may fall drastically in price.
7. More companies will pay with altcoins to freelancers, which will increase calls for tax reforms. There will be greater regressive sales taxes, which will ultimately require government cuts and less power for national governments. This forecast is expected to come true in the long run.
8. In the same way that the Internet changes the monopoly of the telecommunications industry, the cryptocurrency will change the monopoly of the government-guaranteed money.
9. A new governmental organization will be set up to analyze the cryptocurrencies. This will lead to a big increase in the bitcoin
10. Thousands of crypto-companies will be created and will become public, but only a few will achieve great success.