Bitcoin has blown past $12,000 / coin (almost $13,000) today and it’s likely to continue before a small pullback. There’s still room to run because the general public is starting to become aware of it again. Once that happens, the price will likely break $20,000 again. How do I know? Because my neighbor asked me about blockchain and Bitcoin last week. She wanted to know if blockchain and Bitcoin will replace traditional banking.
I have no way of knowing if Bitcoin or other ‘alt-coins’ will replace traditional banking but I do suspect that we’ll see a cryptocurrency replace a country’s fiat money one day. That’ll happen when that fiat currency collapses and the central bank can find a cryptocurrency THEY can control. I just don’t know where and when it will happen, but it’s a high probability that this will happen.
What I do know is that there’s a lot of BullShit in our economy right now. Monetary policy just pushes air into assets and there’s plenty of smoke and mirrors coming with the 2020 elections. It’s hard to figure out what the real stuff is. Even the Gold and Silver markets are manipulated by the big banks!
Maybe the right answer is Bitcoin, a currency beyond the manipulation of the few.