Will Bitcoin Could hit $200k Price Point Next Year in 2022?

 

Why Bitcoin Could Hit $200k Price Point Next Year in 2022

Bitcoin pricing for its worst month since May despite reaching record highs in 2021. The downturn coming as Bitcoin trading has declined 16% in the last month with many blaming Omicron variant and traveling disruptions around the globe. Bitcoin Chairman Brock Pierce discussed what is going on with the contract? A lot of pressure yesterday and we are seeing again this morning. Well, again everyone loves to speculate and they like to claim they have answers to things. The reality is we know this is a volatile market, and there are many events, no one thing singularly generally responsible. More sellers than buyers and that's the thing that no one has any control over. It's someone that has worked full-time in the space for a very long time. I can't even keep up with all of the activity happening all over the world and that is, you know, being full-time. Well, I’ll, with crypto in particular, Bitcoin, there's so many coins now and I think that the average investor would say, well, maybe it's Bitcoin, maybe it's coin and buyers are going to other digital currency because they think Bitcoin is too expensive. That definitely is part of it. If there was Bitcoin only all of the aggregate market cap would probably be in Bitcoin and the market cap would be higher because of the returns that have been produced, all of the alternatives dilutes the value proposition attention. The attention gets diverted all over the place and, yes, it has been impact but in the end it's probably a good thing for the market in the sense that we are continuing to it -- iterate and we can create programmable programs and we are continuing to innovate like the internet of 1999. Many of these projects will not survive over the long haul but you will have your Amazon & Google, etc…That's a good comparison to the dot com bubble that brusted. The crypto industry while it claims to be a path to financial inclusion, Bitcoin ownership is more concentrated than with the standard dollar. In terms of financial inclusion, i think there's more researching that the team need to do.

To jump to conclusions before thoroughly analyze something is proposition and I encourage to continue to be informed. We are seeing impact for financial inclusion perspective. We clearly are seeing in places like el Salvador and around the world. There's a lot of concentration of wealth in the early Bitcoin holders, people such as myself and it is one of my concerns, you know, if we are going to create a better world that can ultimately work for everyone, we want one that is broadly distributed and it's not out yet.  We want to bring in Nancy Tengler into this, who is obviously financial advisers and market watchers participants, There's definitely a mixed bag of opinion when it comes to Bitcoin investing and digital currency in general. A lot of the right points and we know that the currency has been legitimized by many corporate balance sheets investments and I do think it's here to stay. I don't know it's going to solve racial inequality but I’m curious as to Brock's opinion, if you look at price movement. We started the year at 29,000. We know this is a volatile asset class but that's a pretty good move for anything and I’m wondering what your long-term expectations are if you have any on where you think the currency might end up next year. Well, that really depends, I think, more on external tractors than it does the Bitcoin market itself. What are we going to see in terms of actual inflation, these are the sorts of things. Remember this is an at earnive asset and it's really one that isn't hedge per se like gold or real estate may be because it has more risk and greater volatility but also much more interesting profile and so depending upon financial uncertainty in the broader global financial system, that will be the primary driver. But I would not be surprised if we saw Bitcoin price next year over a hundred thousand dollars and it's conceivable that it can rake $200,000 for a moment and fall back again. Which is a big jump, well, we will see. That's a big predicts, Brock Pierce, tell you what, you're out in the industry.

Copied from an interview with Bitcoin Chairman Brock Pierce.

 

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