Global crypto currency market can face huge collapse.

Axar.az informs citing the Bloomberg, the Quinlan & Associates consulting company operating in the Wall Street said.

According to company's report, price of bitcoin may decline by about 8 times and fall to $ 1,800 by December 2018. In a 156-page report, it was stated that bitcoin was more expensive than gold as an investment instrument and a payment instrument function: “In terms of production costs and maintenance of value, the bitcoin is estimated at $ 2,161 and $ 687 respectively”.

Then it turned out that bitcoin costs $ 1,780, adding factors such as "black market" and legal sales to calculations. According to the report, capitalization of the CRT market by the end of the year can be narrowed by 70% to $ 223 billion.