A group of crypto influencers made a forecast for Bitcoin and spoke about the future of the global economy in a new episode of the What Bitcoin Did podcast.
The podcast has been released twice a week since November 2017 and is dedicated to all aspects of bitcoin, including community development, investing, security, and adaptation. The general conclusion of the experts looks inspiring for the crypto community and scary pessimistic about global finances.
Nick Carter, a partner at Castle Island Ventures, points out that most of the sovereign currencies will collapse in the next two years. According to him, “the world is indebted” in emerging markets, as a result, hundreds of millions of people may be at risk. The way out of their sovereign currencies can be to bitcoin, US dollar, or stablecoins. And all this promises a big move next year.
The collapse of sovereign currencies is not uncommon in world finances. This happened after the collapse of the USSR, as well as in the late 90s in Asian markets. Today, these regions are also in trouble. But the United States is now in turmoil too. So options with the US dollar or with stablecoins pegged to the dollar are less successful than entering bitcoin.
Based on this, another expert is even inclined to consider bitcoin “a peaceful protest wrapped in a get rich fast scheme”. Robert Breedlove, CEO of Parallax Digital, believes that the upcoming Bitcoin rally will put to shame even the rally that we saw at the end of 2017 when in 3 months from mid-September to mid-December, bitcoin rose from $3,600 to $20,000 and showed 5.5X. However, Breedlove also steadily notes that it may take some time before long-term rise begins.
But the rise of BTC is inevitable because now there are ideal conditions for this. Political uncertainty is at its peak, and monetary expansion has generally exceeded the wildest expectations. According to the expert, the world will have to reckon with bitcoin when it overcomes the $100,000 level. 2017 was a warm-up, but the expert does not indicate when a new soar takes place, it can happen in a year, two or five.
Adamant Capital Founder Tuur Demeester speaks of the upcoming rally as a fait accompli and started to warn the Bitcoin community about the legal and tax aspects of investing in bitcoin. The expert calls Bitcoin an insurance policy for which payments are about to begin. Therefore, when buying bitcoin, you need to remember about security and store it in several places. And also make a plan for price rise, because the price of this asset does not rise in the same way as the prices of traditional assets, it can soar 10 and 100 times in a very short period. And you need to know what you will do when this happens. And do not forget about the tax consequences of these revenues.
In general, experts have demonstrated buoyant self-confidence in the good prospects of bitcoin. The crypto community is in stand-by mode, waiting for the change of the financial paradigm based on gold, in which mankind has lived 5 thousand years.