KriptoBroker’s Fund Manager Predicts Bitcoin To SkyRocket By 2021, Citing BTC Mining Halving
We all know that crypto prices are close to predicting in long-term, yet it does not stop people to do it on a daily basis.
People have looked like fools, people have looked like prophets. It might have been just a guess reflecting their biases, it might have been an educated guess. However, people predict and they do it because we are always looking for some assurances.
The fund manager and analyst of KriproBroker Novak Svrkota while predicting looks at the basic principle of economics, supply and demand.
“Fiat currencies like the US dollar, have an infinite supply, that increases every day with the rate determined by central banks like FED. Increasing supply is called inflation, meaning that the same amount of money is worthless as time passes. Therefore, keeping your wealth in the form of a dollar or any other fiat currency doesn’t have a lot of sense. That is the reason why people decide to hold their wealth in the form of real estate, art, shares, gold or any other commodity.
Everything revolves around gaining value, but a big part of the equation is a story about money that is constantly losing value. That’s why a bottle of Coca-cola costed 5 cents – even today manufacturing and distribution are much more efficient.”
Now, since the supply of Bitcoin is capped at 21 million, the demand is bound to increase. He continues:
“Bitcoin’s inflation is programmed to decrease every 4 years in an event called halvening. Miners are rewarded with Bitcoins for processing transactions. In the beginning, that reward was 50 Bitcoins every 10 minutes. You would probably assume this is a real fortune but at the beginning, Bitcoin was practically worthless. In 2012 we had the first halvening where the reward was reduced from 50 to 25 BTC and after that, we had a big bull market in late 2013. Then we had 2016 halvening where the reward was reduced from 25 to 12.5 BTC, and we witnessed again the bull market in 2017.”
Even John McAfee, the self-proclaimed ‘mad man’ has stuck to his call for BTC to rise past $1 million before 2021. He thinks that Bitcoin will replace fiat in receipts and payments making its price to rise.
The crypto evangelist got an improbable associate in his super-bullish movement: the “Bitcoin time traveler” who McAfee claims has “never been wrong.”
Bitcoin’s price is $49,272.55 BTC/USD exchange rate today. The real-time BTC market cap of $918.61 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $15.07 Billion and live coin value change of BTC 0.09 in the last 24 hours.