A Stark Prediction For The Future Of Bitcoin, ETH, XRP, And LTC
Bitcoin, ETH, XRP, and LTC prices, will be on a roller coaster for a long time.
Traders and investors will make and lose fortunes in record time, betting on them.
In the end, say some analysts, these cryptocurrencies will either die on their own, or be killed by the ‘establishment’ big governments and big banks around the world that defend sovereign currencies. Take the case for Bitcoin. The “people’s currency” holds a great promise: to become the first true global currency, free of the control of central banks that print money and big banks that generate credit.
But to do that, Bitcoin must gain the trust of the “general public.
“ This means it must be adopted as a medium of exchange, standard of value, and store of value, replacing national currencies.That isn’t easy, given the many obstacles Bitcoin has to overcome.
Like lack of awareness, familiarity, and stability, etc.
And that makes some experts bearish about the future of Bitcoin.
Lars Seier Christensen, Chairman of Concordium, the next-generation decentralized world computer, is one of them.
"In the longer term, I am bearish on bitcoin as I believe it does not have the necessary characteristics of a longer-term valuable asset and, eventually, that reality will catch up” says Christensen.“But in the short term, price movements will likely be random as Bitcoin is affected by low liquidity and unpredictable bigger trades.”
Unpredictability will make it hard for Bitcoin to gain broad adoption as a medium of exchange.
And without broad adoption, Bitcoin will remain a play for speculators and true believers, and eventually die on its own.
But even if Bitcoin overcomes all these obstacles and gains broad adoption by the general public, and was in a position to replace national currencies ie, become the new currency what would happen then? Bears argue that the “establishment” cannot afford to let that happen.
For a couple of reasons, including the loss of Seigniorage” simply put, the profit made by the national governments by printing currency.
Then there’s the profit made by banks helping circulate that money and create credit.
The establishment will do whatever it takes to defend these profits from Bitcoin and any other cryptocurrency that seeks to replace it.
Recent Congressional hearings on Libra attests to the determination of the establishment to protect the dollar from competing cryptocurrencies.
In a rare display of unity, Democrats and Republicans opposed Libra, and had many unkind words for Bitcoin.
Read the full topic at
https://www.forbes.com/sites/panosmourdoukoutas/2019/07/28/a-stark-prediction-for-the-future-of-bitcoin-eth-xrp-and-ltc/#98c818f6fb31
Follow me on
Linkedin: https://www.linkedin.com/in/crypto-expert20
IF you be an admin for your telegram group you can order from the link
Traders and investors will make and lose fortunes in record time, betting on them.
In the end, say some analysts, these cryptocurrencies will either die on their own, or be killed by the ‘establishment’ big governments and big banks around the world that defend sovereign currencies. Take the case for Bitcoin. The “people’s currency” holds a great promise: to become the first true global currency, free of the control of central banks that print money and big banks that generate credit.
But to do that, Bitcoin must gain the trust of the “general public.
“ This means it must be adopted as a medium of exchange, standard of value, and store of value, replacing national currencies.That isn’t easy, given the many obstacles Bitcoin has to overcome.
Like lack of awareness, familiarity, and stability, etc.
And that makes some experts bearish about the future of Bitcoin.
Lars Seier Christensen, Chairman of Concordium, the next-generation decentralized world computer, is one of them.
"In the longer term, I am bearish on bitcoin as I believe it does not have the necessary characteristics of a longer-term valuable asset and, eventually, that reality will catch up” says Christensen.“But in the short term, price movements will likely be random as Bitcoin is affected by low liquidity and unpredictable bigger trades.”
Unpredictability will make it hard for Bitcoin to gain broad adoption as a medium of exchange.
And without broad adoption, Bitcoin will remain a play for speculators and true believers, and eventually die on its own.
But even if Bitcoin overcomes all these obstacles and gains broad adoption by the general public, and was in a position to replace national currencies ie, become the new currency what would happen then? Bears argue that the “establishment” cannot afford to let that happen.
For a couple of reasons, including the loss of Seigniorage” simply put, the profit made by the national governments by printing currency.
Then there’s the profit made by banks helping circulate that money and create credit.
The establishment will do whatever it takes to defend these profits from Bitcoin and any other cryptocurrency that seeks to replace it.
Recent Congressional hearings on Libra attests to the determination of the establishment to protect the dollar from competing cryptocurrencies.
In a rare display of unity, Democrats and Republicans opposed Libra, and had many unkind words for Bitcoin.
Read the full topic at
https://www.forbes.com/sites/panosmourdoukoutas/2019/07/28/a-stark-prediction-for-the-future-of-bitcoin-eth-xrp-and-ltc/#98c818f6fb31
Follow me on
Twitter: https://twitter.com/cryptoexpert20
IF you be an admin for your telegram group you can order from the link
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