In recent days, volatility has been the main feature in the Bitcoin market. Witnessing spectacular rises and falls in the crypto market in a matter of hours. This makes the future of cryptocurrency quite difficult to foresee. Reason why today we bring you several Bitcoin weather predictions of Coronavirus. So that it is the voice of the experts that guides us in this moment of uncertainty.
Bitcoin Predictions in Coronavirus on Two Sides
Optimistic Bitcoin Predictions: Pompliano and Zhao
Of course, as is always the case within the crypto community, there is no consensus on what the future holds for the price of Bitcoin. Analysts dividing into two quite different fields. That of the optimists who consider that the price of Bitcoin still has a lot of room to grow. And the pessimists who bet on its collapse.
Leading the optimists are two of the most important figures in the crypto world. On the one hand we have Changpeng Zhao, CEO and founder of the crypto exchange Binance, and one of the most recognized and respected figures in the crypto community.
For Zhao, the price of Bitcoin is going to strengthen in the months to come. Basing its analysis on the actions of western governments, which have promised multi-million dollar incentive packages to stimulate their economies in Coronavirus time. Introducing a huge amount of monetary liquidity into the market.
Thus, in Zhao’s opinion, this dramatic increase in the money supply, without a comparable increase in demand, will cause Fiat money to rapidly lose value. What would strengthen alternative currencies like Bitcoin, causing its price to increase.
A position shared by Anthony Pompliano, for whom the Fed’s unlimited liquidity promises are a perfect recipe for inflation. Whose main effect, according to the founder of Morgan Creek Digital, will be to end the reign of Fiat money and make way for cryptocurrencies.
Finally, another of the big optimists of these Coronavirus-time Bitcoin predictions is Tim Draper. And it is that, for the billionaire investor, once the health crisis caused by the Coronavirus passes, banks and governments will no longer be the fundamental factor of the economy to begin to be Bitcoin. One of the most radical visions of what will happen.