Crypto summer has presented a unique set of challenges which if they are anything to go by, a big break out of up to $50,000 per Bitcoin is indeed possible.
If we take into cognizance the factors that are driving the Bitcoin price rally this year, it will be obvious that when the breakout rally occurs, it shall rival the previous 2017 rally.
The Big Guns Are Coming Into The Game Loaded
Big banking and finance have already indicated their interest in getting into the Bitcoin game now that it seems “safe”.
Already, several Bitcoin exchange-traded funds exist globally and serve as tools for harnessing the price potentials of the cryptocurrency.
This has created a community of neo-experts who are going to try to own the crypto marketplace.
It will produce a whole lot of volatility and price spikes.
This isn’t even the “wow” factor.
They won’t win, however.
Governments Will Start Having Bitcoin Reserves
Countries are going to start putting some faith in having some Bitcoin on the ground in their reserves as a hedge against the inflation that paper money comes with.
Bitcoin will be used as a stabilizing factor to balance out conflicting inflationary and deflationary monetary forces.
Such Governments will apply the use of Buying and selling Bitcoins as a measure to keep their currencies in check.
In cases where national currencies fail or where sanctions are applied, Bitcoin will come to the rescue and such states will become stable again!
Bitcoin Will Become Popular
Now, this is the real end-game scenario where people are going to start wondering about the many wonderful uses of Bitcoin.
Just like when the internet, mobile phones, and co came in.
Mass adoption is where the takeoff will start.
By that time, people will want to use the cryptocurrency or just own it for Petes’ sake!
Then the prices differentials will start occurring upwards: $20,000, $35,000, $40,000-$45,000 and $50,000.
These will be the psychological barriers that the market place will break.
For now, though, enjoy the ride!
What do you think?
Is $50,000 per Bitcoin possible by Autumn?
Let us know in the comments!