The global crisis generated by the Coronavirus has affected the financial markets most important, traditional and non-traditional. Therefore, when it is not yet clear what will be the effect of the disease on the price of Bitcoin in the medium term, in CriptoTendencia we bring to you the 5 predictions Bitcoin hotter for this by 2020.
Anthony Pompliano: Price of Bitcoin on the rise
We started our list of 5 predictions Bitcoin, with one of the crypto influencer more important in the world. We refer to Anthony Pompliano, founder of Morgan Creek Digital, and one of the most authoritative voices to discuss the performance of the price of Bitcoin. And is that, Pompliano is optimistic these last few days. Because, for him, the actions taken by the government of the united States, benefit greatly from Bitcoin. Thanks to an increase in the money supply of us dollars, that is without an equal increment in the demand, should lead to a depreciation of the american currency. Precisely the situation for which Bitcoin was created, according to Pompliano. Therefore, to be a currency deflation, a decline in confidence in traditional assets such as the dollar, should direct the attention of big capital to the BTC. Increasing the demand for the currency and therefore its price. To all this we add the closeness of the Halving in the Blockchain of the criptomoneda, an event for which restarían less than 50 days. Which, by reducing the speed of expansion of the money supply of Bitcoins, it is expected to generate an increase in its price.
Peter Schiff: Still have no value
However, the position of Anthony Pompliano does not seem to convince the whole world. And especially not to Peter Schiff, the tycoon gold known for their contrary positions to the cryptocurrencies. Assets that you consider a bubble without any real value. The position of Schiff does not seem to have changed in the slightest in the last few days. Because, in fact, in a special participation made in the podcast of Anthony Pompliano, Schiff would have reaffirmed his position. Predicting that the Bitcoin will soon no longer have any value to investors. Thus, Schiff would have said that Bitcoin “has only to those who are interested in speculating on its price. Once no one wants to do this, you will lose sense”. So, for him, not even the measures of expansionary Federal Reserve will be able to make people interested in Bitcoin. Leading sooner or later to its fall.
Changpeng Zhao: the Price of Bitcoin will not drop
Changpeng Zhao is one of the most respected figures in the crypto community. Not only for its analysis, but also by the influence that has on your company, the exchange of cryptocurrencies Binance, on the market criptoactivos. For this reason, it is worth commenting on its agreement with Anthony Pompliano about the future of the crypto market in the 5 predictions Bitcoin of today. It is, like the founder of Morgan Creek, Zhao believes that the measures taken by the government of the united States is going to seriously affect the value of a dollar. That will lead to his downfall and to the rise of BTC as a viable alternative. The performance of Bitcoin seems to support Zhao. Source: CoinDesk, Zhao has come even to suggest that the market cap of Bitcoin could reach several billion dollars, due to the package of incentives agreed to by the Congress of the united States. Ensuring in addition that, while this takes money, does not allow a total collapse of BTC.
Dan Morehead: Bitcoin will reach age of majority
These optimistic predictions would be supported additionally by the CEO of the investment fund Pantera Capital Dan Morehead. Who said, in a letter sent to investors of the fund, during the financial crisis that face the world in this 2020, Bitcoin “will reach the age of majority”, being able to reach historical highs in its price. For Morehead 2020 will be a year of extremely negative for the international economy, there is the risk that you will witness the first year with negative growth in the global economy. All this caused by the effects of the Coronavirus. That does not mean that the Bitcoin is not going to witness a significant recovery in the months to come: “The price of Bitcoin may set a new record in the next twelve months. Not going to happen overnight. My best estimate is that institutional investors will take 2-3 months to select the problems of your current portfolio. Other 3-6 months to investigate new opportunities such as distressed debt, special situations, crypto, etc Then, when you begin to make investments, those markets really start to go up“.
Tim Draper: Bitcoin will save the world
Finally, without a doubt the most optimistic of our 5 predictions Bitcoin today, is that of Tim Draper. For whom, not only the Bitcoin will benefit from the financial crisis, but the criptomoneda and its functioning decentralized will be the basis for the reconstruction of the world after the Coronavirus. So what would have commented in an interview in the podcast Stories. Reaffirming their words through a message on his Twitter account, where he commented that: “When the world returns, it will be Bitcoin, not banks and governments, who will save the day”.
Entertainment for while you are holed up. When the world comes back, it will be Bitcoin, not banks and governments that save the day. https://t.co/ChEQ70CcKL— Tim Draper (@TimDraper) March 16, 2020