Robert Breedlove believes that Bitcoin will break the USD 100,000 barrier. Tuur Demeester believes that economies will grind to a halt in 5 to 10 years.
In recent days, four influential analysts gave their opinion on the use of Bitcoin, its price, and the global economic situation. Each of them has his perspective of what is happening and will happen with Bitcoin. However, all of them consider that the price of Bitcoin will rise rapidly and soon.
Nic Carter, a partner at Castle Island Ventures, stated that monetary failures will occur in several countries of the world in the next two years. He believes that the world will witness the bankruptcy of several fiat currencies as a result of the debt that has been rapidly accumulating since the COVID-19 pandemic began.
Carter considers that this situation will lead people worldwide to seek new ways to avoid losing value for their money. For that reason, he believes that many will choose to take shelter in Bitcoin or the US dollar to escape their local currency. By the law of supply and demand, the more people want to buy Bitcoin, the more its price must increase.
Tuur Demeester, Founder of Adamant Capital, believes that rising debt will cause the economies of several countries to stall in 5 to 10 years. In that sense, he said that Bitcoin operators must prepare for a massive demonstration that will cause a stir among everyone.
Demeester views Bitcoin as a self-directed insurance policy. He explained that users must interact with technology to learn how to use the cryptocurrency safely and legally. Furthermore, he stated that there is a possibility of seeing a bullish run in which the price of Bitcoin will increase by between 10 and 100 times its value in a short period.
Adoption as a Bitcoin Price Driver
Robert Breedlove, CEO of Parallax Digital, also believes that a massive bullish run for the price of Bitcoin is coming. He explained that political uncertainty and monetary expansion are generating the perfect storm.
Breedlove believes that the world will be able to see Bitcoin worth above USD 100,000 in around 5 years. The fact that Bitcoin reaches that price will inevitably draw the attention of thousands of new users, who will be interested in the cryptocurrency.
Alex Leishman, Founder of River Financial, noted that he has observed how a large number of new users are taking an interest in Bitcoin. From investors on Wall Street to 65-year-old women from the Midwest, people are showing increasing intention to know the cryptocurrency.
Of course, what these analysts said about the price of Bitcoin are just opinions, but not exactly what will happen. However, it is striking that several ecosystem analysts have a similar opinion.
For instance, a Bloomberg study suggests that the price of Bitcoin could reach USD 28,000. This analysis indicates that the COVID-19 pandemic has accelerated Bitcoin’s maturation and only something disastrous could prevent the cryptocurrency from appreciating.
On the other hand, Robert Kiyosaki, businessman, and writer, stated that the current economic situation worldwide could lead to Bitcoin being worth USD 75,000. He also thinks that the decisions that the U.S. Federal Reserve (FED) made are not competent enough in light of the situation.
By Alexander Salazar
