There are new predictions that cryptocurrency will have another bull run, due to the trading volumes. According to Changpeng Zhao, the CEO of Binance, the exchange is opening its doors for institutional investors. Thus, additional capital will arrive soon. Additionally, a large number of banks are already using crypto technology. One great example is Ripple, which a number of banks, including Santander, are using.
Ripple allows parties to facilitate payments at a much faster rate than what they can accomplish with fiat money. Many parties believe that cryptocurrencies will demolish USD, EUR, and other fiat money in 4 years.
Cryptocurrency Price Will Increase
There are remarks that cryptocurrency will cause a future financial revolution. According to Tim Draper, a billionaire venture capitalist, on a global scale, $250k Bitcoin might arrive by 2022 or 2023. With $86 trillion of fiat currency in the world, Bitcoin will only need 5% market share to get to a price of $250k each. Draper pointed out that on a global scale, all this might take is for Starbucks to implement cryptocurrency. In addition, financial firms such as Goldman Sachs might need to use cryptocurrency to buy crypto exchanges such as Binance. No crypto exchange in their right mind is willing to sell for fiat money.
Fiat money, according to CEO of the crypto exchange ShapeShift, Erik Voorhees, is doomed. The organizations that are $20 trillion in debt will not possibly be able to pay all of it without printing the money, and when it prints money, fiat is doomed, Erik says. The takeaway is that if this happens, crypto will likely skyrocket.
Tim Draper Re-Affirms Prediction for Bitcoin
On November 6, 2018, Tim Draper re-affirmed his prediction that Bitcoin will reach the price of $250k by 2022. He initially predicted that the BTC price will surge up to $250k in April of this year. While he admitted that this might make you sound crazy to some people, when it happens, he says, it is going to be awesome.