Bitcoin’s price forecasts kept the crypto publicity train thriving throughout the 2017 crypto market run, therefore Bitcoin Benchmark For Gold is happening. If it was the oddball ICO publicist John McAfee who promised to dis-empower himself if Bitcoin failed to produce $ 1 million in three years or if Fundstrat set a progressive price target of $25,000. Every crypto influencer had a valuation; and most of them portrayed a tremendous upside, often in the incredibly short run. More and more, however, such positive and specific bitcoin price objectives tend to be a shadow of their former selves. Then again, the largest crypto bull on Wall Street deserted the Bitcoin price prediction game, griping that the market could not recognize that the real value of the asset was well above its present level.
Bitcoin Has Crucial Opportunity For Global Debt Crisis
Towards this bizarre background, the asset management company( Lucid Investment Strategies) pulls away from the group to make a bull call that sounds like a 2017 reversal. One day, the Bitcoin price could penetrate $10 million, becoming the new gold and fix the financial crisis of the world.
It is said that, the debt-to-wealth ratio has got way out of hand and created a monstrous imbalance of wealth distribution. Sometime around the end of 2018, the world debt total was calculated at $247 trillion, compared to $317 trillion in global wealth. But even though global wealth persists to outweigh the debt, the gap is closing rapidly.
Lucid says in a new study that this political process is not feasible and that the world economy must ultimately find a solution to the debt crisis. The five most likely tactics, says the company, are the implementation of a reserve currency, the development of a new global market / currency bucket, job creation, sovereign debt default or massive investments in Bitcoin.
Although maybe not the most likely result, the company establishes that Bitcoin is the best solution because it would provide a permanent fix to the debt crisis while minimizing the impact that unavoidably leads to severe economic turmoil.
Reasons Why Bitcoin Price Could Hit $10 Million
From here, the study explores what kind of path Bitcoin should take to reach the $10 million mark from where it stands today, ankle- deep in a 13-month bear market and remain trapped near the $3,500 mark.
Of course in this case, the first order of business is to break out of the rough patch. This could, regrettably, occur later than sooner. Like many analysts, Lucid believes that the price of Bitcoin has not dropped yet, but will probably fall below the $1,000 mark before the fire sale takes place.
Bitcoin Benchmark For Gold
An essential catalyst for setting a bottom is the full annihilation of altcoins and initial coin offering( ICO) tokens, which proves once and for all that Bitcoin is electronic gold, and its so- called rivals are only inexpensive replicas.
The talk about building a better bitcoin is nonsense because Bitcoin Benchmark For Gold. The premier cryptocurrency will start to grind up from the bottom. After public opposition, the price of Bitcoin would begin to accelerate as it shatters through key technical challenges to set a new all-time high of around $20,000.