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Cliff Hey: Bitcoin will be three time expensive than gold by 2018

24/03/2017 00:00
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Cliff Hey has mentioned in one of the latest messages to cryptocurrency society thay banks might have rather serious problems related to big amount of derivatives by the ends of year 2017. Industry experts give quite good forecasts related to silver, while the ounce of gold will be three times cheaper in comparison to Bitcoin price. In his interview with Grag Hunter expert mentions that the price of gold will be equal to the index of $4 800. This way, the Bitcoin price will become more than 13000USD.

The issues bank institutions may encounter in 2017

Cliff Hey who has become popular thanks to his project with internet bots says that according to his data the derivatives many of bank institutions encounter would be the issue of more regional than international scale.

He is sure that such situation will become the reason of serious crash. For example the derivative of one bank from Northern Italy has negative influence over Deutsche Bank. If they keep managing it for while, everyone may be happy. Then the same situation might repeat somewhere in Texas by making part of regional banks to close. The chain reaction will touch California and Asia and shift to Europe then. Cliff Hey forecasts derivatives outbreak for various banks till the end of this year.

Expert specifies that the bankruptcy of some banks might cause the difficulties for some people requiring access to cash. As a rule not all banks can manage such situation.

The price of silver will become cosmic

Cliff sees no relation with banks breakout and forecasted silver price growth. In any case precious metal will become key element in growing amount of complex hyper technologies. This will result at the growth of emotional attachment to silver since this year, when its price will sharply grow.

Expert mentions that banking institutions will try to keep silver price at the same level but the next breakthrough, expected on October this year will be impossible to suppress as precious metal will be attached to technologies by this time.

 Such situation will cause uncontrolled accumulation of silver among western states within two next years. Its price will enormously grow and become equal to the price of gold. Cliff mentions that the price of gold will be 4800USD per ounce in March 2018.

The price of Bitcoin will not sharply grow till year 2019

While Cliff is rather cautious about its forecasts of cryptocurrency market but now he assures that now digital currency is really worth something and lot of people will see its value exceeding 13000USD by March next year.

When speaking to Grag Hunter Cliff mentions that the growth of gold price till the level of 4800USD will be followed by the price drop down till the level of 300USD. Hey states that the price of gold will three times lower Bitcoin exchange rate within a short period of time and then will start growing. Expert doesn’t see the grounds of Bitcoin price growth by 2019. In some moment the price of one Bitcoin will be once thousand ounce of gold.

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