Bitcoin replacing banks: good for enthusiasts, terrible for Bloomberg’s analysts

The respectable financial media website called Bloomberg recently published a list of pessimistic prognoses called The Pessimist's Guide to 2018. In case Bitcoin becomes a victor in the cold war of banks and cryptocurrencies, its price will become 1 million dollars in 2028, analysts think. The possible victory can happen due to hack attacks on the traditional financial organizations. And Amazon with Alipay can choose to support cryptocurrency once they realize the traditional money is of no use to them anymore.

However, the same guide contains an extremely unlikely scenario of how the Russian President’s governing powers are given to the current Russian Central Bank governor Elvira Nabiullina, Putin himself is missing and the state budget becomes bulging-at-the-seams due to the rise of electromobiles and dropped oil prices. Everybody familiar with the Russian politics can easily disagree with this — the transition of power will almost certainly not involve Nabiullina.

This leads to believe that Bloomberg chose highly unlikely case scenarios, as in another example, relatively young Kim Jong-un dies of a heart attack and North Korea launches a missile towards the USA — where is any motivation in that? This all means this prognose about Bitcoin cannot be called fully serious.