Many analysts are calling for a bitcoin end of year price of $100,000 and well beyond in some instances. Does the present financial climate make this a likely scenario?
First of all, I would venture that Bitcoin getting to $100,000 by the end of this year doesn’t really matter. You only have to be cognizant of all the shenanigans being played out by the Federal Reserve, other central banks, and organisations like the International Monetary Fund (IMF).
There is really no end in sight to the continued printing of fiat currency out of thin air. It does achieve its aim of keeping the show on the road. But at what cost? Every time the stock market shows signs of faltering, the Fed steps in and buys more stock.
Every other facet of the existing fiat monetary system is the same. Whenever something looks like it is about to fail, the Fed steps in like Superman and taps on the zero key on the keyboard enough times to buoy things up again.
There was the recent debacle of the language pertaining to a “broker” as regards crypto in the US $3.5 trillion infrastructure bill. This whole affair brought the entire US legislative system under the spotlight.
When US senator Ted Cruz said that he believed there were probably no more than 5 senators who could string a sentence together on what cryptocurrency actually was – he was spot on.
And finally, in order to destroy any vestige of common sense, it only took one 87-year-old senator to stop the crypto amendment being added , in spite of 100% agreement across all the other senators.
The old traditionalists who support the fast-decaying fiat system are fighting for their lives. They are enmeshed in this system and will fight crypto until the end. They have huge power, and will use it however they can in order to ensure that the system endures.
So what chance does crypto have?
We are coming to a climax. The end of any monetary system has not been pretty, no matter how many times they have ended throughout history. What is hopeful for cryptocurrency is that many people are waking up from a “Matrix” style sleep.
Just as in the film, a few people were able to escape from the “reality” of what the system was feeding them.
In the real world the same thing is happening. In fact, many people are starting to realise just how serious the situation is. That first purchase of Bitcoin or Ethereum is the beginning of the escape to financial freedom.
A tipping point has either already happened or is very near to happening. Money goes to where it is best treated, and in a million years you could not argue that that is in the festering mess of a monetary system we have right now.
Yes, Bitcoin can go to $100,000 by the end of the year, but what is more important is that Bitcoin, and other cryptocurrencies, help us into a fairer system. One that is transparent and above suspicion.
I would sooner trust a mathematical system than one that is run by whoever has the deepest pockets and the most “friends” in high places.
Wake up all who can. Buy some bitcoin, and start shaking of the shackles of the system. Your freedom depends on it.