Bitcoin Foundation Executive Director Llew Claasen predicts Bitcoin price will reach $ 40,000 by the end of 2018, while 90% of all other cryptocurrency projects will fail, Business Insider postponed Feb. 15.

As Claasen stated at the Startup Grind conference that took place from February 12 to 14, this failure will be caused by investors taking too much risk to invest in projects. cryptocurrency that will later prove to be scams.

Only a month and a half in 2018, five major Initial Coin Offering (ICO) scams and cryptocurrency have already been discovered, including the infamous Bitconnect.

Claasen is convinced that the cryptocurrency community will learn from these unfortunate events and will be able to prevent them in the future, as he told Business Insider. Claasen believes that investors are already more cautious, stating that "it's a problem that the market is good at solving."

As Claasen explained it in more detail, Bitcoin will not progressively Instead, it will rebound for three to six months with the same highs and lows as during the three previous months.

Just this Tuesday, Ripple CEO Brad Garlinghouse said that most virtual currencies will likely go to zero, as reported by Business Insider.