Saxo Bank: Bitcoin’s gonna fall

This is going to be a very big shock for some people when Bitcoin’s eventually going to fall, warns Saxo Bank, a bank in Denmark that keeps posting what it calls “Shocking Prognoses”. Among other shocking prognoses for 2018 is the probable fall of S&P 500, problems with the Japanese central bank and the increase of tensions between the politicians in the European Union.

According to their theory, Russia’s and China’s actions will be the ultimate reasons of Bitcoin’s turmoil, but the Russian cryptocurrency legislation is actually not going to be the worst (Indonesia, for example, recently made all coin transactions illegal), and the Chinese ICO ban and exchange ban might have trained the crypto community to react to such news more calmly.

Among other things, the report of Saxo Bank tells that South Africa is going to rise again for some reason. However, they do realize their predictions might not come true, as they say “if anything of it comes true, the world is going to change dramatically”.

Cryptocurrency is feeling very well in Scandinavia. During the autumn, we have seen the news about the Nordic Law corporation that decided to accept Bitcoin payments and about the Swedish state service called Kronofogden that received a discharge in bitcoins.