Cryptocurrency

The price of the Bitcoin can reach $ 500 thousand

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The world is in crisis, and each day that passes it becomes more obvious this situation. And is that, to the extent that the Coronavirus continues to wreak havoc in the lives of people, made more obvious the weaknesses in our system of economic, political and health. A situation, which many analysts could boost the adoption of the criptomonedas. Therefore, Max Keiser believes that the price of the Bitcoin can reach up to 500 thousand dollars within a short time.

The adoption of Bitcoin

One of the most complicated problems with which it has faced Bitcoin since its birth, has been the increase in its adoption. Therefore, although no one can deny that the criptomoneda created by Satoshi Nakamoto, is increasingly important. What is certain, is that the BTC has not achieved the much desired overcrowding in its use, which would allow him to compete with the Fiat money in equal conditions.

In part, this difficulty in order to standardise its use has been a consequence of the hostility of the governments of the world against Bitcoin and other criptomonedas. Thus, although countries such as China, Russia or the united States, are constantly seeking to improve their capabilities in technology Blockchain. This does not mean that their governments accept the free use of Bitcoin within its borders.

On the contrary, many governments have declared that they will not allow the use of Bitcoin as a currency within their countries. A position that makes sense, considering that the aim of BTC is to replace the Fiat money worldwide. And with this, to break the monopoly of States on monetary policy.

However, and although in theory the Bitcoin would be against the fundamental interests of the governments of the world. More and more nations are forced to recognize the utility of the criptomoneda. What, according to Max Keiser, will that the same be accepted even in the united States, accelerating the increase in its price.

The future of BTC according to Max Keiser

Thus, as commented in the last edition of his program on Russia Today, Keiser ReportMax Keiser believes that the conditions of the market of Bitcoin will force the u.s. government to enter the same. This in spite of the declared hostility of the President, Donald Trump and other officials of his administration, against the criptomoneda.

And is that, to the extent that the sanctions imposed by the united States of America on the governments of Iran and Venezuela deepen. These countries are going to see in criptomonedas as Bitcoin an alternative to participate in the global financial market. Leading to an increase in the participation of both in the mining of BTC, and thus their influence on their Blockchain.

The increase in the Rate of Hash is in the center of the prediction Max Keiser on the price of Bitcoin. Source: Blockchain.com
The increase in the Rate of Hash is in the center of the prediction Max Keiser on the price of Bitcoin. Source: Blockchain.com

Then at some point America will say, ‘We have to enter the space race of the 21st century, the race of the mining Bitcoin, and then try to find the 20% of the Rate of Hash, and then the security goes up dramatically, and the price goes up to $400,000, to $500,000“ commented Max Keiser on his show.

In this way, Max Keiser expects the next increase in the price of Bitcoin, is generated by the entry of the u.s. government in a competition for influence in the Blockchain of Bitcoin. Which will increase your Rate of Hash, and therefore the security of the chain of blocks. Leading to generate greater investor confidence in BTC, and positioning its price of around 500 thousand dollars. A prediction that becomes so in our Fact of the Day today here in CriptoTendencia.

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Astha is an experienced Content Writer and Blogger in Blockchain, Tech, Fashion and eCommerce field with a successful track record of working in Creative Content Writing, Public Relations and Growth planning.

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