Will Bitcoin Emerge As A Winner? 5 Things To Expect
Right now, the global economy is in total shock. The Washington Post reports, “Nearly every asset class stocks, bonds, gold, oil came under siege, with the Dow plunging more than 1,300 points.”
On March 12, this sent the crypto markets tumbling into panic mode. During the panic, bitcoin was oversold.
In just 24 hours, $93 billion was wiped from the crypto markets, resulting in a 48% plunge in bitcoins’ price which came quickly.Bitcoin bull, Tim Draper says, “It will be bitcoin, not banks and governments that save the day.”
With the bitcoin halving event scheduled to take place in May, Draper believes that the price of bitcoin could reach an all-time high of $250,000 by 2022.
With the bitcoin halving event around the corner, here’s what you could expect to happen.
Extreme price volatility
Despite the recent downturn in bitcoin prices and the crypto market as a whole, Richard Ells, the CEO of Electroneum believes that the global economy hasn’t seen anything like what is happening right now since the Second World War.
Ells says, “For the very short term, it would be foolish to expect anything but severe volatility in the crypto market. However, once the dust settles, I’m positive that we will see it flourishing again.”
As of the time of writing, bitcoin has since had an impressive 80% rebound off its price low of $3,800 to $6,206.
Ells further goes on to say, “The next bitcoin halving is right around the corner and crypto adoption has been rising all around the world in the past few months.
For instance, our recently launched freelance platform AnyTask has recorded more than 51,000 signups only within a week.”
Bitcoin resilience
Dan Schatt, CEO of the crypto lending platform Cred believes that whilst the current global liquidity crisis has the potential to destroy some asset classes, in the short-term bitcoin and cryptocurrencies will prevail.
“Bitcoin has proven to be very resilient. It is still up 33% from a year ago. Why? It continues to gain favor as a store of value that will not be diluted.
A dollar in 1970 is worth $0.15 today due to inflation. 50 years from now, we will not see the same rate of inflation on bitcoin,” says Schatt.
Read the full topic at
https://www.forbes.com/sites/lukefitzpatrick/2020/03/23/will-bitcoin-emerge-as-a-winner-5-things-to-expect/#58145a441933
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On March 12, this sent the crypto markets tumbling into panic mode. During the panic, bitcoin was oversold.
In just 24 hours, $93 billion was wiped from the crypto markets, resulting in a 48% plunge in bitcoins’ price which came quickly.Bitcoin bull, Tim Draper says, “It will be bitcoin, not banks and governments that save the day.”
With the bitcoin halving event scheduled to take place in May, Draper believes that the price of bitcoin could reach an all-time high of $250,000 by 2022.
With the bitcoin halving event around the corner, here’s what you could expect to happen.
Extreme price volatility
Despite the recent downturn in bitcoin prices and the crypto market as a whole, Richard Ells, the CEO of Electroneum believes that the global economy hasn’t seen anything like what is happening right now since the Second World War.
Ells says, “For the very short term, it would be foolish to expect anything but severe volatility in the crypto market. However, once the dust settles, I’m positive that we will see it flourishing again.”
As of the time of writing, bitcoin has since had an impressive 80% rebound off its price low of $3,800 to $6,206.
For instance, our recently launched freelance platform AnyTask has recorded more than 51,000 signups only within a week.”
Bitcoin resilience
Dan Schatt, CEO of the crypto lending platform Cred believes that whilst the current global liquidity crisis has the potential to destroy some asset classes, in the short-term bitcoin and cryptocurrencies will prevail.
“Bitcoin has proven to be very resilient. It is still up 33% from a year ago. Why? It continues to gain favor as a store of value that will not be diluted.
A dollar in 1970 is worth $0.15 today due to inflation. 50 years from now, we will not see the same rate of inflation on bitcoin,” says Schatt.
Read the full topic at
https://www.forbes.com/sites/lukefitzpatrick/2020/03/23/will-bitcoin-emerge-as-a-winner-5-things-to-expect/#58145a441933
Follow me on
Twitter: https://twitter.com/cryptoexpert20
If you wont me to post your cryptocurrency article on my blog From the link
https://www.fiverr.com/cryptoexpert20/post-your-cryptocurrency-article-on-my-blog
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