Researchers from the international bank Citibank published a report in which they expressed their fears about the impact of bitcoin on the world economy. In their opinion, this is a "bubble" that can burst at any moment and cause significant damage to the global economy. Developing countries will suffer especially, and Ukraine is among the five most vulnerable. Among the most worrying bitcoins, analysts call: volatility, which prevents bitcoin from becoming a means of accumulating or executing transactions; too much energy consumption for production; problems with cybersecurity and the possibility of breaking a blockade by quantum computers; putting the economy into a shadow; "Weak design", which turns bitcoin into a "bubble". The authors of the study suggest that soon other crypto-currencies will prevail over bitcoin in the crypto-currency market and become a more reliable alternative. Experts do not undertake to predict when the bitcoin-bubble bursts. However, they believe that governments of countries can contribute to this. "We see some classic signs of a bubble that is sufficiently advanced. One of the potential triggers may be government prohibitions of bitcoin for the reasons described above. If the bubble bursts, the value of bitcoin will collapse to zero, thereby destroying the cryptoglossities accumulated in a particular country.

If you estimate the bitcoin market share as a percentage of GDP and assume that the price of this crypto currency will instantly be reset, you can estimate the harm for a particular country. Russia will suffer most, bitcoin, whose share is 5% of GDP. On the second place New Zealand, on the third Nigeria, and Ukraine - on the 4th with 2.5% to GDP. For comparison, in the US this figure is 0.17%.

Original article: Citibank: Bitcoin - bubble. When it bursts, Ukraine will suffer more than others.