In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Inflation will hit develop nations hardest, but it’ll wreak havoc in the United States and China too. My prediction 8% to 14% inflation in the US in 2022. I also predict inflation will force Powell to raise interest rates.
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This essay is intended to be a layperson’s guide to cryptocurrency; and related technologies, for writers and other non-tech people. Persons seeking a more technical explanation should look elsewhere.
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The government of the Indian State of Andhra Pradesh and MasterCard (NYSE: MA) have joined the Ethereum Enterprise Alliance (EEA).
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This is the biggest menace to gold mining and it is one that a lot of traditional investors cannot see coming. Altcoins like Bitcoin, Ethereum, Litecoin, NEO, and DASH serve as a hedge against inflation. Yet they are far easier to buy, sell and trade than gold.
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The TenX Visa is supposed to convert eight cryptocurrencies including bitcoin, ethereum, ERC20 and Dash (the currency formerly known as Darkcoin). More currencies; presumably including Litecoin are coming according to the TenX website. It is not clear if there is any connection between TenX and China’s Tencent Holdings.
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There is now $54 billion invested in 600 different publicly traded cryptocurrencies, research by City University of London economist Abeer El Bahrawy indicates. El Bahrawy made that discovery while trying to determine the size and scope of the cryptocurrency market, MIT Technology Review reported
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Therefore it is highly likely that the bitcoin bubble will last for several years and boost the price of other cryptocurrencies with it. The other widely traded cryptocurrency; ethereum or ether, has seen even bigger growth than bitcoin.
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This program has the potential to greatly expand use of cryptocurrency by creating a distribution channel that can be adopted by charities, aid organizations and countries like the U.S. that offer foreign aid. The WFP blockchain can also serve as the basis of a financial network that private companies and banks can use to reach people in developing nations.
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Therefore half a million dollar bitcoin is possible but getting there will be a rocky road. One thing is certain though, volatility is the norm for cryptocurrency prices so get used to it.
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The best answer to the above query is that cash is flowing out of bitcoin and into ethereum. The other is that is cryptocurrencies are so easy to buy and sell it makes them inherently unstable.
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