💣WHY BANKS FEAR BITCOIN TODAY AND CREATE FUD 🔥 SEE A PREDICTION FOR 2022 WHICH COULD BECOME REALITY! 💣
Dear Steemit friends,
2017 is a special year in terms of the attention governments and banks are raising for Bitcoin or cryptocurrencies at all. Shout outs by Jamie Dimon like
"Bitcoin is for murderers, drug dealers, and North Korea."
"Bitcoin is a fraud that will blow up!"
create fear among all market participants! Look at my
two memes
i'd already created a few days ago.That is no accident!
In my opinion it is the fear of banks what is coming in 5 years ahead! Why do i think that? The advantages of Bitcoin and the whole crypto market are not really visible due the tiny market cap in comparison to gold, the S&P 500 and the U. S. dollar currently. Look at the following chart (source data from https://www.fool.com/investing/2017/08/17/how-does-bitcoins-market-cap-stack-up-next-to-gold.aspx)
Bitcoin 2017 in comparison to U. S. dollar, S&P 500, Gold, chart created by author
BUT look at the past. The growth of Bitcoin and the whole crypto market
- from 2013-2016 was +100% per year! and
- from 2013-2017 even a staggering +200%!
- The last year alone was a huge jump of +940%
and many think that has fundamental value because the market did not crash after a month like in the past multiple times. That could be a sign of reaching early majority soon and i think was also the initiator for regulators, banks, government to take action because of the strong momentum!
market cap increase crypto market 2013-2017, chart edited by author based on data coinmarketcap.com
If you extrapolate the exponential growth and..
assume the growth of the crypto market remains at +100%
..(means a correction from now on) which means doubling each year that could lead to the following scenario in 5 years. Assume the following for U.S dollar, S&P500 and gold:
Assuming U.S. Dollar cash amount increase +2% per year
S&P 500 growth rate is about 10% per year since inception in 1928
Gold output is about 3,100 tonnes per year. 1 tonne = 32,000 ounces. Yearly output equals 99.2 million ounces gold. Current price of gold per ounce = $1,320 USD. That are about $131 billion worth of gold per year. Growth rate is about 1.8% per year.
Bitcoin with a market cap over $2 trillion in 2022?
Bitcoin 2022 prediction in comparison to U. S. dollar, S&P 500, Gold, chart created by author
Or the whole Crypto Market with a market cap over 4 trillion in 2022?
.. if we assume Bitcoin holds his share of nearly 50% or maybe Bitcoin with a much smaller market share because other assets and currencies take the lead then..
Crypto Market 2022 prediction in comparison to U. S. dollar, S&P 500, Gold, chart created by author
Is that a prediction of J. P. Morgan in 2022 which called Jamie Dimon to take action?
Crypto Market overtakes U.S. Dollar in 2022 prediction, chart created by author
I think that's what are banks interested in to put it mildly, because if the crypto market has overtaken the U. S. dollar we have a complete different picture of what is Dimon saying today. His loud shouts at interviewers, investors, miners, employees should be considered wisely before someone passes a sentence.
Maybe the U.S. Dollar falls down on the way and is much more destabilized as my chart shows or i'm wrong.
I could be completely wrong. It's possible that Bitcoin has a hard landing and comes never back,..
BUT the blockchain technology, the cryptographic currencies are here to stay.
That's what i believe in whether Bitcoin fades away or not and that's the reason why that evolution will disrupt everything many believe currently in.
Remember, if banks cannot control the money streams anymore they are powerless, if banks are not needed anymore as intermediary as intented by revolutionary Bitcoin idea than they are useless!
What does it mean for J. P. Morgan and all the other market participants.. mmhh quite interesting, don't you think?
A more realistic scenario could be also that the market crashes or corrects and we see the market cap just in 2025 and beyond. But the fact is the snowball is rollin' and is already a snow globe which could be in a few years a avalanche for many sectors.
disruption of the stoneage of current banking and finance system
✌ If you like the read please follow me and vote me up! ✋ Thank you!👍
see also my other posts
🔥 SECOND "IMPORTANT" CHINA EXCHANGE IS CLOSING SOON! 🔥 WHAT IS THE FUD ALL ABOUT? 🔥
🔥 FIRE IN THE CRYPTO MARKET 🔥 TIME TO BUY? REFLECTING SOME RUMORS 🔥
💰 BITCOIN A FRAUD? - BANKS ARE VERY CONCERNED TODAY - WHAT'S BEHIND? 💰
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Gave you a follow for this post...it is exceptional.
I agree with your outlook. The crypto/blockchain market is gone...it is out of the bag. They cannot put it back in and that is what has the likes of Dimon freaking out. They need to demonize as much as they can to scare the average header listener. Few take the time to really research anything so they now that 60% of the people are duped by a simply headline or two.
I do not foresee BTC drifting away for the simple reason it is recognized as the leader in the crypto world, has the publicity, and is a great store of value. Gold held top rank in metals for the same reason, it is recognized as such. When a store of value is agreed upon in a realm, first in metals now in crypto, there is no need to change it.
As far as who takes out the USD and becomes money, that is still up in the air.
I am betting on LTC for that one.
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Thank you for your assessment! For me it seems very probable that Bitcoin stays in the market, evolving with the other approaches around. Yes for cash alternatives there are many contenders today. Dash, ZCash (J. P. Morgans choice 😉) and many others. Many doubt that established cryptocurrencies can stay because they seem old and outdated from a technological standpoint but i think they simply adapt new developments very fast and have this deep market penetration with strong branding, especially Bitcoin is so long around the even the most rejecting people heard about it in the radio or from watchin' TV. It's already basic knowledge that you can spell Bitcoin even if you know nothing about the technology behind i think.
I'm very optimistic and excited if your prediction about Litecoin will happen! Thanks for recommending to @OriginalWorks, didn't know that servcie until now.
I just posted in another thread about LTC and convinced myself to buy more.
Charlie Lee is a force in my opinion. He is one of those guys who is at the table with guys like Jobs and Musk. He can take a vision and has the ability to bring it to fruition. Lee sees LTC as silver to BTC's gold...he sees it as the money used.
Looks at what he has or will have:
Segwit
Lightening
Vault
Atomic Swap
Smart Contracts
This puts LTC in a position that is hard to beat.
That sounds very interesting i'll dive into it, thanks for the hint!
Anytime....I might be one of Lee's biggest cheerleaders so keep that in mind. LOL
I will tell you that LTC is my largest holding following by BTC, then steem, then ETH.
I dont know if that helps any.
That's surprising for me. Currently i see LTC in the Top 5 of coinmarketcap.com and know that it's often used at exchanges as standard currency and that it has a established footprint in the market. But what i'd not figured out (the same for Dash) is what's the moat for them. I know the advantages of LTC in comparison to BTC in terms of 4times faster blocktime . But i'll look deeper into it because you made me curious.
My order of priority is Steem, BTC (indirectly in mining, TFL).. the two by far of my biggest positions and some minor RDD, XTZ holdings. Ethereum is always a temporarily necessary currency, maybe i build up in the future if Metropolis FUD is spreading but that's crystal ball talking.
Great post!
Thank you for reading!
I love reading your article they have high knowledge content in them and definitely the way you setup your articles are great I rate you as one of the upcoming star of steemit @onetin84 keep steeming brother eagerly waiting for your new article..
Thank you for your kind words. I don't expect to be a star 😎 but so long new ideas for valuable posts floating out of my brain i'll create new ones for our community.
Yaa bro keep making such post and also guide new people on steem to grow because I know you're always ready to help everyone... Keep this nature and I guarantee you will be the pew-di-pie of steem keep going @onetin84 my brother.
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