- Hello freind steemians!!
At present Bitcoin and other types of crypto currencies (in other countries are called crypto assets) still act as a complement, not as a substitute for currencies issued by fiat money lias. With a number of high-tech blockchain technologies, what will happen to bitcoin and cryptocurrency in the future?
Crypto currency is indeed successful as a small part as a means of payment, which proves it has value. It is also superior to fiat money in terms of security, speed, low transaction costs, ease of storage and is closely related to today's digital developments.
That was the initial presentation of Marion Laboure, Economist from Harvard University in the latest Deutsche Bank report. On the basis of the strength of the crypto currency, he predicts that the adoption will increase threefold in 2030, provided that there is support from the government, it should support the Internet.
"In the coming decades, it will not be surprising if a new cryptocurrency will emerge and can be widely adopted. At the moment we know for ourselves that several countries with historically strong banking industries are testing their own cryptocurrency, "
On the other hand, Marion explained, cryptocurrency can be the best tool in digital warfare. "The question is which country will take advantage first and build an integrated alliance with other countries and companies. When that happens, the boundaries between crypto currencies, financial institutions and the public and private sectors can be thin, "
Full support by the government for the Internet a few years when it first appeared, was also used as a benchmark for the adoption of the next crypto currency. For Marion, government support for the Internet infrastructure and all kinds of derivative products, benefits the world and in the future will expand the adoption of crypto currencies.
Another thing is based on previous research by Deutsche Bank, that almost two-thirds of the 3,600 people in China, Germany, Italy, the United Kingdom and the United States prefer payments that are purely digital than physical money (cash, credit cards and debit cards). And one third of them are worried about privacy issues in the payment system.
"Those two things are able to be fulfilled by crypto currencies," Marion explained.
According to Marion, if the rate of speed of the number of Internet users and users of the crypto currency wallet is as fast as now, and is fully supported by the government, by 2030 the number of crypto asset wallet users will multiply to 200 million people.
However, challenges are clearly ahead when the number of crypto-eye users is increasing. First, namely the availability of sufficient electricity supply to avoid crypto-currency infrastructure outages. The real threat to these factors is natural disasters and global climate change. And secondly, hacking problems that refer to a number of cases that flourished throughout 2018 until this Second.
***Bitcoin Can Drop Down to US $ 5,500-5,324 in July 2020***
Peter Brandt, a well-known senior technical analyst from the United States, said that Bitcoin could go down to US $ 5,500-5,324 in July 2020. For Peter this is a "fairness", because there are a number of certain patterns historically. Since July 2019, a few weeks after Bitcoin (BTC) fell from US $ 13,793, various predictions emerged. Now, the most common narrative is that traders and investors must be aware of the level of US $ 6,000. If Bitcoin falls below that level, it has the potential to go down even further. A more convincing explanation came from Peter Brandt, a well-known senior technical analyst from the United States.
In his latest analysis, Peter uses the concept of "fractal" in the context of being a follower of the "Classical Charting Principles". The concept is commonly used to recognize reversal points based on historical data. Even Peter analysis is placed in the range of time daily (daily) and weekly (weekly).
"Bitcoin has surpassed the parabolic rate four times since 2011 and four times the decline in the weekly range based on Moving Average (MA). The '12-month pattern' from the highest to the lowest point is clearly visible, as part of the next parabolic phase. With that pattern, I see Bitcoin can go down to the level of US $ 5,324 in July 2020 as a support point, before rising again, "he said at Bitcoinlive.com in early December 2019.
In the daily period, Peter also mentioned that the downward trend (since US $ 5,324) will form the next parabolic phase in 6 months.
Peter also stressed that this prediction could be wrong and the interpretation would be different if using other indicators. However, based on his experience, this method of analysis is often used in reviewing other types of assets and used as a benchmark.
"I believe that Bitcoin can skyrocket to US $ 100,000 in the future and it will not be zero,"
By from to Subscribe and like >>