This is only the beginning of the awakening for the financial world, the OCC letter serves to generate confidence and in this situation of financial crisis, it is what is most needed.
But consider that Bitcoin is programmatically deflationary, can cross borders without the approval of regulators and doesn’t rely on the resilience of political institutions for its validity and there’s more than an outside chance that it could one day form the basis of international trade and become a major traded currency.
This USD/Bitcoin Ratio suggests that by 2024 Bitcoin (+681% vs USD) will outperform both Gold (+95% vs. USD) and Silver (+139% vs. USD) against the US Dollar.
We are trading our time, which is strictly limited, for a money that can be printed out of thin air with no cost or effort. In no circumstances is this a good deal, so people started looking for alternatives.
Bitcoin is much more than just a cryptocurrency.
You have to understand this if you want to really get the most out of the Bitcoin revolution. It would be a real shame to limit yourself simply to the financial side of Bitcoin.
Keynesianism hates freedom and savings. It is for this reason that you will not see or hear anything good from Keynesian economists when talking about bitcoin.
The boundary for the fifth phase is estimated at between 1.6 trillion and 29.1 trillion USD. Assuming the end of the phase market evaulation, this translates to an individual bitcoin price of between $83k and $1.48m (with a centre point of around 350k).
Does this mean the projected 2020–2024 Bitcoin value of $288,000 will be correct? Well, you get to find out just as quickly as I do.
The third bitcoin halving, which is scheduled to take place in May 2020 has seen some lofty predictions on bitcoin prices. Billionaire bitcoin bull Tim Draper believes that the price of one bitcoin could rise to $250,000; Buffett’s Books founder Preston Pysh thinks that bitcoin could skyrocket to $300,000 after the halving; former Goldman Sachs GS hedge fund manager Raoul Pal predicts that the price of bitcoin to hit $1,000,000 within 3 years.