Will Bitcoin Reach $2,000 During Trump’s Presidency?
From NewsBTC
Whether you agree with Donald Trump’s politics or not, you have to admit he’s done wonders for bitcoin.Following the election results, trading skyrocketed on platforms ranging from ZebPay to Digital Currency Group. Saurabh Agrawal, co-founder of ZebPay explained, “There has been a spike in volumes of bitcoin trading by about 20 percent, and even we are seeing a surge in trading in recent weeks.”
But this was mere child’s play according to what’s purportedly around the corner. According to a new report from Saxo Bank, Trump is set to introduce economic stimulus policies which could inherently lead to inflation and take a nasty turn. Should this occur, one bitcoin could reach as high as $2,000 by 2017.
One of the first things that happens when inflation strikes is a rise in interest rates. The Federal Reserve uses this tactic as a means of bringing things under control and allowing the U.S. dollar to appreciate. Chief economist at Saxo Bank Steen Jakobsen explains:
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I remember discussing back in June with a friend that we felt if Trump got in, Bitcoin would get to around $1000 by January; looks like we won't be too far off with that prediction.
Cg