On October 1, the Munich-based, state-owned bank BayernLB published its latest research on “Megatrend Digitalization” and Bitcoin.
The report suggested that everyone will witness the highly anticipated Bitcoin leap from its current price of about $8,300.
The financial institution Finanzgruppe explained that historically, gold had to earn its high stock-to-flow ratio. It has always been the commodity with the highest rate.In theory, The Crypto can succeed in obtaining a similar stock-to-flow ratio to that of gold in the upcoming couple of years. In a way, Bitcoin has always completely open monetary system operating on a purely voluntary basis.
The stock-to-flow ratio for a commodity means that a commodity’s definition equals its years of reserves in comparison to its annual supply. However, a commodity such as gold is held in reserves. In addition, it is divided by the amount of the asset produced annually.
Experts bet that by May 2020, it’s price will rise to USD 90,000.
Hypothetically, Bitcoin should be harder than gold. In theory, it is an ultra-hard type of money. However, it is hard to predict the future. Even the best statistical and digital financial systems fail in doing so. Probably ,it’s degree of hardness will inexorably increase even further.
Not everyone will agree with this price prediction. However, Bitcoin critics think that Bitcoin is on a breaking point. It has fallen below the support line. There is a high risk that the cryptocurrency will cascade even lower, straight to USD 4 000.
Key Points: AUD/JPY broke below a rising wedge, signalling possible bearish momentum, with immediate resistance at 103.00 and support at…
Key Points EUR/JPY Rises to 168.25: Strengthened by robust Eurozone economy and steady ECB policy. Eurozone GDP Grew by 0.3%…
Key Points: Nio's shares hit 44.20 HKD, up 20%, with electric vehicle deliveries up 134.6% year-on-year to 15,620. BYD leads…
Key Points: Ethereum fell sharply from $3,355 to a low of $2,813, reflecting high volatility and sensitivity to market dynamics.…
Key Points Nikkei 225 slightly fell by 0.1%, while the Hang Seng index surged by 2.4%. USD/JPY increased slightly, highlighting…
Key Points: Gold prices rose on MCX India to ₹71,278/10 gm and COMEX US to $2,328/oz. The US Dollar Index…
This website uses cookies.