Gold has restrictions such as storage, non-portable, and could possibly be even called ‘yesterday’s news’ in terms of a financial hedge. Bitcoin is the new gold .
The price of the first cryptocurrency by the end of 2021 can reach $318,315 due to the consolidation of digital gold status in the XXI century.
The analogy with the rejection in 1973 of the Bretton Woods Agreement, signed in 1944, and the transition to the Jamaican currency system. These events marked the decoupling of the U.S. dollar from the gold equivalent ( gold standard).
In 1971, U.S. President Richard Nixon broke this link by creating a regime of fiat currencies as we know them today.
Precious metal has been growing rapidly over the next 50 years.
Let's compare monetary and dollar devaluation as conditions for comparing gold and bitcoin .
"The first cryptocurrency was a response to the global economic crisis of 2008, which transformed the towards zero interest rates".
This explains the 555-fold increase in bitcoin in the first bull cycle from 2011 to 2013.
The COVID-19 pandemic and related monetary and fiscal measures of the government create the same market environment as the gold market in the 1970s. Authorities in developed countries have sent a clear signal that they will not shy away from unprecedented money printing until GDP and employment rates recover.
The bitcoin chart shows four-year consolidation cycles with bear and bull phases, which will be further transformed into a rally over the next year.
Bitcoin price by December 2021 will increase 102 times to $318,315 from a low of $3200 in 2018.
" Look at the price behavior, which over the past seven years has fit into a well-defined upward channel. We can see a similar movement that was characteristic of the last rally in 2017".
I will add quotes from famous enthusiasts.
In early November, the popular blogger PlanB confirmed that it remains true to its forecast that the price of the first crypt currency to $100 000-$288 000 by December 2021.
The founders of the Gemini cryptocurrency exchange, the Winklevoss brothers, are making higher bets: based on their own analysis, they expect a bitcoin of $500,000.
What do you think?
Info taken from CITI Bank by Tom Fitzpatrick report
buckle up seat belts., the coming golden age of next 10,000 years and there's a huge dynamic power shifting happening ., these instabilities would last for another 15-20years /2035=40 or so ., started off around early 90's