Goldman Sachs says that Cryptocurrency will fall to zero

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It’s been a while since the prices of graphics cards went high and made it almost impossible for any gamer to buy a graphics card at its original price. Even though the Cryptocurrencies like Bitcoin is seeing some huge fluctuations, people are still investing to mine it and leaving the gamers with nothing except disappointment.

But Goldman Sachs which is a leading global investment banking, securities and investment management firm has predicted that the cryptocurrency will fall to zero in the end because of the lack of intrinsic value. The head of Global Investment Research who is Stevel Strongnin made some statements that show he doesn’t think that it will survive for long.

He said, “Whether any of today’s cryptocurrencies will survive over the long run seems unlikely to me, although parts of them may evolve and survive, Because of the lack of intrinsic value, the currencies that don’t survive will most likely trade to zero.”

He pointed to the bubble of the dotcom that was increasing in the late 90’s but after 3 years, it crashed and companies fell down including pets.com and eToys.com. But companies like Amazon.com and Google made their way to become Titan. So, who will emerge as the winner in cryptocurrency is unclear.

Strongnin also said, “Ultimately, I think new cryptocurrencies will emerge but of course time will tell”

According to him, there will be a handful of survivors which will benefit themselves but they may never see the recent peaks again which we saw in the previous months.

But will it affect the prices of GPU’s anyway? I don’t know because even though we saw some sharp decline in the Bitcoin and other cryptocurrencies in the past few days, nothing looked to be changed. Every graphics card is still overpriced like in the past few weeks. So, are the manufacturers not able to meet the requirements or the resellers are taking advantage of this new business?


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