The world is in crisis, and with each passing day this situation becomes more obvious. And it is that, as the Coronavirus continues to wreak havoc on people’s lives, the weaknesses in our economic, political and health systems become more obvious. A situation, which for many analysts could boost the adoption of cryptocurrencies. Thus, Max Keizer considers that the price of Bitcoin can reach $ 500,000 in a short time.
Bitcoin adoption
One of the most complicated problems Bitcoin has faced since its inception has been the increase in its adoption. Well, although no one can deny that the cryptocurrency created by Satoshi Nakamoto is increasingly important. The truth is that the BTC has not achieved the much desired mass use, which would allow it to compete with Fiat money on equal terms.
In part, this difficulty in spreading its use has been a consequence of the hostility of the world’s governments against Bitcoin and other cryptocurrencies. Thus, although countries such as China, Russia or the United States, constantly seek to improve their Blockchain technology capabilities. This does not mean that their governments accept the free use of Bitcoin within their borders.
To the contrary, many governments have stated that they will not allow the use of Bitcoin as a currency within their countries. A position that makes sense, considering that BTC’s goal is to replace Fiat money globally. And with this, end the monopoly of the States on monetary policy.
However, and although in theory Bitcoin would go against the fundamental interests of the world’s governments. More and more nations are forced to recognize the usefulness of the cryptocurrency. Which, according to Max Keizer, will lead to it being accepted even in the United States, thereby accelerating the increase in its price.
The future of BTC according to Max Keizer
Thus, as he commented in the last edition of his program on Russia Today, Keizer Report, Max Keizer considers that the very conditions of the Bitcoin market will force the US government to enter it. This despite the declared hostility of President Donald Trump and other officials of his administration, against the cryptocurrency.
And it is that, as the sanctions imposed by the United States on the governments of Iran and Venezuela are deepened. These countries are going to see cryptocurrencies like Bitcoin as an alternative to participate in the global financial market. Taking to increase the participation of both in the mining of BTC, and therefore their influence on their Blockchain.
Then at some point America will say, ‘We have to get into the 21st century space race, the Bitcoin mining race, and then they will try to look for 20% of the Hash Rate, and then security goes up dramatically, and the price goes up to $ 400,000, $ 500,000Max Keizer commented on his show.
In this way, Max Keizer hopes that the next increase in the price of Bitcoin will be generated by the entry of the US government in a competition to influence the Bitcoin Blockchain. What will increase your Hash Rate, and therefore the security of the blockchain. Leading to greater investor confidence in BTC, and positioning its price around $ 500,000. A prediction that becomes like this in our Today’s Data here at CryptoTrend.
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