Roger McNamee, an American entrepreneur and one of Facebook's first investors, told CNBC on Thursday that 2018 will be the year of "stagnation or full speed up" for Bitcoin.
Technology investor McNamee noted that the increase in Bitcoin's price this year is largely due to speculation, but that the legitimacy of Bitcoin depends on the endurance it shows in the future turbulations.
"When Bitcoin is compared to the big financial world, it is still a very small market but it has been a significant year and we have experienced speculative madness. What people do not notice is that if a madness lasts long enough, the prophechy will fulfill itself. In other words, even after the collapse, the industry continues to remain."
According to McNamee, the current status of the Bitcoin market is 246 billion dollars market volume and 24 billion 24-hour trade volume shows that Bitcoin has the potential to get more money. As it continues to grow, Bitcoin can also be a part of the global financial market.
"There are people who are willing to invest money in the amount needed to make Bitcoin a long-term part of the financial market. The important thing about 2018 is that we will see the end result in one way or another."
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