Bitcoin Bull Run to Start As Soon as it Starts Working as a Hedge Against USD
Bitcoin Would Start a Bull Run As Soon as it Starts Working as a Hedge Against USD
Most of us remember the last financial crisis that affected the whole world. It was back in 2008, just one year before Bitcoin was created. Since then, the market entered the longest bull run in the history of the United States.
The most important indicator for the US market is the S&P 500 share index. Some experts believe that the election of Donald Trump enabled the market to continue its upward trend. However, it seems that the bull run should continue if it wants to become the longest.
The US Financial Industry Regulatory Authority the market would have to continue until summer of 2021 if it wants to break the last record in the 90’s.
Kim Dotcom, the controversial figure, said that people should buy gold and cryptocurrencies rather than trusting the US dollar. This would help individuals hedge against an imminent US economic crash.
About it he mentioned that the USD would become worthless. Additionally, he explained that other currencies would follow the crash.
Trust me. Buy crypto and gold. Your USD will become worthless. With US economic collapse all old money currencies will crash.
Times will get tough. But you’ll be fine if you hedge some of your assets in preparation for the crash.
The big crash is coming 100%.
— Kim Dotcom (@KimDotcom) August 12, 2018
There is another important expert from JP Morgan, Marko Kolanovic, that warns about the next financial crisis. During an interview at CNBC, he mentioned that the next financial crisis would have a social unrest not seen in over 50 years. Mr. Kolanovic wrote a report on the 2008 financial crisis ten years later.
However, he said that the crisis may not happen at least until the second half of 2019. According to him, this will depend by the speed in which the Federal Reserve hikes interest rates.
Bitcoin may grow as a new financial asset to hedge against the volatility in the market or a big financial crisis. In the future, we could experience a bull run in the cryptocurrency market if a financial crisis starts as it happened in 2008.
At the moment of writing, Bitcoin is the most important virtual currency in the market and is being traded close to $6450 dollars.