Bitcoin Foundation’s Llew Claasen Says Bitcoin Will Hit $40,000, 90% Of Altcoins Will Fail

Bitcoin Foundation’s executive director Llew Claasen claimed that Bitcoin will hit $40,000 by the end of 2018, but 90 percent of other crypto projects will disappear.

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An easy to make statement, but I don’t really see it underwritten with facts anywhere.

It’s quite easy (and probably partially correct) that 90% of all currencies will fail, it is pretty much a jungle and just about anyone can start a coin or token at the drop of a hat. Obviously 90% of those will never amount to anything since they don’t have a business plan or even a simple clear white paper that supports them.

Coinmarketcap currently lists about 1,057 different coins, will this drop down to 100 by December 2018, somehow I doubt that statement. In terms of his prediction for bitcoin and it bouncing up and down for 3-6 months through to 40,000 USD, again I don’t see justification for it to do so. Doesn’t mean it won’t but without underlying economics this prediction is as good as reading tea leaves IMHO.