Bitcoin will grow, but in a year – Charlie Schrem
Charlie Schrem bets on Bitcoin’s long-term growth
Quantitative easing policy and incentives will play into the hands of the crypto industry
The halving effect will only appear in 2021
International consortium of news organizations developing transparency standards.
One of the pioneers of the cryptocurrency industry, Charlie Schrem repeated the bullish forecast for the foreign exchange market, but advised not to wait for quick results.
Speaking at the virtual industry conference Virtual Blockchain Week, American entrepreneur and founder of the Bitcoin Foundation Charlie Schrem spoke about when Bitcoin will grow and what to expect from halving.
People will spend unemployment benefits on bitcoins
According to Shrem, the supply cuts resulting from Bitcoin halvigne and the quantitative easing policies pursued by global central banks will be the main catalysts for a powerful bullish trend in the cryptocurrency market..
“Halving Bitcoin halving cuts the number of new coins created and earned by miners in half. This happens about every four years and … More during the coronavirus epidemic, it’s just crazy, a real black swan, “he said.
The American government is literally giving out money to people, many have already started receiving their unemployment benefits, although many will actually return to their jobs as soon as the quarantine is lifted. This is free money that people will not have time to spend sitting at home all day without access to their usual entertainment, restaurants and shops..
Shrem is confident that some of them will settle on the cryptocurrency market, and this point of view is already confirmed in the latest data from Coinbase. The cryptocurrency exchange has already noted the influx of “helicopter money” from American clients.
Not all at once
Halving will also increase the bullish pressure on the market due to the decline in the supply of bitcoin. However, according to the entrepreneur, the effect will become noticeable after a few months, possibly in 2021. He also added that the previous halving did not lead to an instant price surge, but set the stage for a powerful bull rally in 2017, that is, a year and a half after the block reward cut.
Charlie Schrem is an odious figure in the cryptocurrency world. In 2014, he was sentenced to two years in prison for illegal activities related to the Silk Road darknet marketplace. Freed in 2016, he continued to work in the cryptocurrency field and in 2017 founded the consulting company CryptoIQ..
Do you think Bitcoin will explode after the halving? Share your opinion in the comments.
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