Monday 04/18/2022 05:56 from Echo BTC
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Token coins of Litecoin, Ethereum, Bitcoin and Ripple cryptocurrencies. pixabay.com
Bitcoin Bull Fodder and a Metaverse Warning: The Opinion ECHO.
Bitcoin: times have changed
Former Goldman Sachs manager Raoul Pal is certain that cycles in which the Bitcoin price moved, changed. This is mainly due to the changed proportions in the market. In an interview with Layah Heilpern, the crypto enthusiast explains his view that more people are investing in Bitcoin and Co. overall.
I think the cycles have changed. Over time, highly volatile trends become less volatile. We experienced this at Amazon in its early days. The fluctuations were 95%, then 65%, and over time they got smaller and smaller. Because more and more people have entered the network.
This network effect, continues Pal, is currently also observed in the crypto market and in particular with Bitcoin.
The same is happening with crypto now. […] Volatility will decrease. I believe the dump that was 85% is now only 50% […]. So we already had a bear market. We have been in a bear market for over a year. […] It is unlikely that [der Bitcoin-Kurs] falls again by 85 percent.
As a result, its future forecasts are bullish. After Pal, we should no longer count on a cold crypto winter, as was the case in the past.
Meanwhile, whistleblower Frances Haugen warns of the dangers of Meta’s (formerly Facebook) planned metaverse. The American points out that the problems of the past could be repeated. Among other things, she alludes to the social media group’s repeated privacy scandals. In an interview with Politico magazine she said last week:
she [Meta] have made very big promises regarding security in the Metaverse. But unless they commit to transparency, access, and other accountability measures, I imagine all the damage we’re seeing on Facebook right now will be repeated.
Michael Saylor predicts bullish times for Bitcoin
Not a week without Saylor’s Hopium: The CEO of Microstrategy predicted a huge bull run for Bitcoin last week. According to him, cryptocurrency would ensure its place in the sun:
A maximalist would look at it and say the first stop is $500,000 a piece, the next stop is $5 million a piece, and the next stop is $10 million or more because we expect that bitcoin is transforming the paradigm of money and technology. her head. Bitcoin is the foundation of the 21st century cybereconomy.
Anyone who would have liked to have explained such statements in a more grounded way and would like to know why a Bitcoin price of 1 million US dollars did not completely come out of nowhere should read this article sincere.
Post Raoul Pal: “Bitcoin Unlikely to Fall 85%” first appeared on BTC-ECHO.
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