In the coming weeks, the US dollar will continue decline in value and the stock markets will crash down hard. Right now, Bitcoin seems to be holding above the 4K mark but barely. New money is needed as well a a rise in user adoption, not only investors but businesses as well. I believe that the market cap will soon swing upwards and reach $300Billion in the short term and probably above $1Trillion in the medium term.
The trigger for this will be when big banks start to fail in the US. The domino effect will be global at some point and crypto currencies like Bitcoin will become very popular. The more the US dollar declines, the more valuable Bitcoin will become. When we break the 5K barrier for good, a very large wave of people will hop on the Bitcoin train, just like when we crossed the 3K barrier.
On a personal note, i invested some money in 4 different alt coins (long term) but as far as my bitcoins are concerned, they will remain in cold storage for quite some time. I really believe that in a couple of years from now, we'll laugh at the $5K bitcoin price tag!
Have a great day everyone!
I agree with you on the outcome yet disagree on the cause. You mention $300B, I peg the market cap of crypto at $250B by Thanksgiving so we are close there.
The banking facade can go on a long time. I dont think the average sheep out there has any idea what is going on. Even in the big money hedge fund world, most of those investors lose too. The crypto money, like metals, is a fringe sector. While some put a portion of their portfolio into gold, as an example, most do not. So while the numbers are large in terms of dollars, it is still a small percentage of the population that will get into crypto.
And yes $5K will be a laugh in a couple years...hell, LTC might be $5K a coin by then (or more).
@originalworks