Deutsche Bank Economist Believes a Bitcoin Crash Endangers Global Markets

The continuing frenzy surrounding Bitcoin has a number of analysts and economists worried even as global financial institutions are starting to actively participate in the crypto world.

2017 has been a banner year for Bitcoin and other cryptocurrencies. Last week saw Bitcoin race from $14,000 to over $18,000 in a few hours before coming back down to earth at just over $15,000. While many financial experts are predicting that Bitcoin will soar even higher in 2018, there are a number who are a little more gloomy. The latest member of the Gloom Club is Torsten Slok, an economist with Deutsche Bank, who believes that a Bitcoin crash could endanger global markets.

Bitcoin Making the List … of Market Risks

Bitcoin has been riding high this year, and the launch of futures trading is driving interest to a fever pitch. The CBOE website actually crashed yesterday as it couldn’t handle the massive influx of traffic. One wonders if CME will beef up their site when they launch their own Bitcoin futures exchange next week.

Of course, not everyone is tickled pink by the increasing influence of Bitcoin and cryptocurrency. Torsten Slok of Deutsche Bank has issued a warning about the ramifications of a Bitcoin crash in 2018. Slok released a list of 30 market risks that could impact global markets, and a Bitcoin crash came in at lucky number 13. This places Bitcoin behind German wages and inflation but ahead of Brexit developments and the Russian presidential election…

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