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Bloomberg Contributor Expects Bitcoin to Witness “Much Bigger” Bull Market 

  • Alex Dovbnya
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    Jared Dillian claims the Bitcoin price could rise “significantly” if it achieves mainstream adoption   

Bloomberg Contributor Expects Bitcoin to Witness “Much Bigger” Bull Market 
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Bloomberg contributor Jared Dillian, who refers to himself as a “reformed crypto doubter,” has completely changed his stance on Bitcoin.

In his recent op-ed article, he claims that the top coin could experience another bull market, which will be much bigger compared to the 2017 bubble.

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Turning into a Bitcoin bull

Bitcoin’s appeal became evident for Dillian when he understood that there was a need for a stateless currency that cannot be printed by governments to fund their spending programs.

The US dollar has lost 96 percent of its purchasing power since the creation of the Federal Reserve, which recently cut interest rates for the first time in more than a decade.

Gold seems like an obvious answer for risk-averse investors who want to stay away from volatile assets, but Dillian writes that he simply likes Bitcoin more (sorry, Peter Schiff).

No government can ban Bitcoin or seize it. It is technologically impossible, without a piece of technology known as a quantum computer. It is the ideal way to move capital seamlessly and secretly around the globe at minimal cost.”

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A “much bigger” bull market

Dillian further touts the potential of Bitcoin by comparing it to the Internet, which also went through its short-lived bubble phase in the late 90s. Investors would throw money left and right at all dot-com start-ups, but only a few of them survived the big crash.

If Bitcoin finally breaks into the mainstream, its price could experience a significant increase. In fact, he predicts that the next bull market will be much bigger, and there will be no need to wait for decades in order to witness new highs.

I believe there will be another bull market, much larger than the first one where the potential is finally realized. Bitcoin is currently in a state of neglect.”

As reported by U.Today, CNBC’s long-time anchor Joe Kernen also compared Bitcoin to Amazon.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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