The Dollar Wrecking Ball: Why is a strong US dollar so dangerous?
The rising US dollar strength is starting to produce cracks across economies and markets.
There are never enough long-term predictions of the Bitcoin price. But the ones currently surfacing are not relatively positive. People and, mainly, a number of traders, point to a level of USD 6,400, USD 5,200 or even USD 3,000. Of course, from their perspective, these are only short-term predictions. However, they have completely overshadowed the long-term perception of Bitcoin as such, and also of its fundamental features.
Mark Yusko, Morgan Creek Capital Management, is one of the largest crypto “bulls” in the whole sector. That is, partly, why he believes Bitcoin will again have an awesome decade. Of course, his view may be biased, since the company itself deals with the management of cryptocurrencies for institutional investors. That is why such predictions should be treated with caution since Bitcoin’s price rising very high is definitely in Yusko’s interest.
“By the end of 2021, Bitcoin may easily get to USD 100,000. In 2025, it can even be USD 250,000 and, by 2030, USD 400,000 yo 500,000 for one Bitcoin.“
Such parabolic growth should be backed by a number of bases that should act in favor of the largest cryptocurrency. In an interview for Business Insider, Yusko called attention to the fact that, despite the extreme volatility of its price in 2019, Bitcoin still made significant progress.
Yusko noted, for example, that the number of BTC wallets grew significantly in 2019. From the original 31 million wallets registered early this year, their number has now reached almost 44 million.
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