Crypto Supercycle Possible?

Dan Held believes it is and I’m right there with him….

Kraken Executive Who Bought Bitcoin at $10 Says Crypto Supercycle Possible – Here’s How High BTC May Go According to Dan Held

“The macro, at the very high level, what does the economy look like? It’s pretty bad. Covid is not a good thing for the economy. Tons of businesses got shut down. Governments engaged in massive money printing operations. There’s a lack of faith in the government.

So pretty much a perfect storm for Bitcoin because Bitcoin was built and planted during the 2008 financial crisis to solve a problem of trust and storing value with governments. It removed that from them and gave it to people and you could trust in mathematics and game theory instead of having to trust a politician and their body movements and interpreting that into monetary policy, which is what we do today. We watch an animal. We watch a human being do a random dance on TV and then we interpret that as on, they’re dovish or hawkish on the economy and that economy’s plan for 400 million people, which is absurd…

History rhymes. It doesn’t repeat itself. And so maybe we have a big bull run and almost no dip. Or maybe it’s a super big bull run and then we have a traditional dip too. I don’t know. I just know that it will be different. Or maybe it’s slower than we anticipate and maybe this moves really fast now and it slows down…

In 2021, we could hit $1 million. It could maybe hit it. There’s a crazy chance it could hit a million if the whole world starts to believe in Bitcoin, we could maybe hit that. I think this could be a Bitcoin supercycle to a million if the whole world starts to recognize Bitcoin’s value. If not that, I think a normal cycle could be between $100,000 and $250,000. So either way, I think we’re all going to the moon.”


Master Asked on December 23, 2020 in Cryptocurrency.
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