The consulting division of the Dutch bank ING Research does not exclude that the cost of the most popular crypto currency in the world - bitcoin - in the long term may even exceed $ 1 million, but most likely the price of bitcoin will eventually be reset because of a drop in interest in it,. Cost bitcoin under the influence of excitement in recent weeks, the record for the record, and on Sunday set another, exceeding 20 thousand dollars per unit. Thus, only in the past month the price of bitcoin has grown more than 2.5 times. "If users massively lose interest in it, then the cost of bitcoin can be reset. On the other hand, in the unlikely scenario, world payments can take place in bitcoin, and then its value can increase to more than $ 1 million, "the report says.. Experts of ING Research note that bitcoin is subject to a lot of risks. Among them - the difficulty in regulating crypto-currencies by central banks and governments, the lack of any guarantees for investors, high commission fees for the transaction (an average of $ 8 in November), high volatility, large energy costs required for mining, complexity with the introduction of innovations in the network of detachments bitcoin. Thus, it follows from the analysis of ING Research, the value of bitcoin can be maintained and increased solely by the assumption of high demand for it. "The only remaining rationale for investing in bitcoin is the assumption that traders will be ready to buy it at higher prices in the future," reads the study.

"In the long term, bitcoin will not be able to maintain interest in itself from a large audience and is likely to become a niche product for a separate group of enthusiasts. What they consider to be key benefits can actually be an obstacle. Moreover, today's bitcoin value is based on shaky facts, given that it has open source code and therefore can be easily branched and copied, "the report also says.

Original article: ING allowed bitcoin growth above $ 1 million.