Two major guides for investors speculate on the role Bitcoin will play in the current economic crisis and the impact halving may have on its price. The predictions are so bullish that it makes your shoes drop.
It’s well known that Bitcoiners like to throw around daring predictions. 50,000 euros, 100,000 euros, a million – the estimates of where the price of Bitcoin is headed can’t be high enough. Some time ago, an analyst from Bayerische Landesbank also joined such forecasts, admittedly without being too explicit. Now there are other predictions from investment advice companies, neither of which have anything to do with Bitcoin per se, but which are on par with the optimism of the Bitcoin community. We took a look at two of them. If you don`t want to miss out, get yourself a coupon code from BitcoinCoupons and open a Binance account.
Up to $1 million per Bitcoin
The first report is from Realvision. This is a portal for investors that regularly publishes news and reports. According to its self-description, Realvision is “a place where the world’s most successful investors share their thoughts on what’s happening in today’s markets.” The portal has now published a report analyzing what the economic consequences of the Corona crisis will be, and what role gold and bitcoin will play in it.
The report sings about the biggest part of a crisis blues that can leave you terrified. It says the drama will “probably play out in three acts”: first panic, then hope – we’re currently in one of the two acts – and finally involution: “the brutal phase that changes everything, including the system itself.” The report then shows many pages of facts and charts about the coronavirus, as well as stating that there is so much about the virus and the governments’ responses that we don’t even know yet. Which is a very disturbing fact, he said.
What is clear, however, are the economic consequences to date. The Corona crisis is “without a doubt the biggest economic event in the last 150 years.” In China, figures on production and consumption fell more than ever before, similarly in Australia and Japan. Europe “suffered the most severe collapse in history,” as did the U.K. and the U.S., where unemployment reports multiplied overnight. There has never been such a violent global economic crash. And what it amounts to is not even visible yet. The final panic is yet to come, he said. The author of the report fears that this will be an “everything crisis,” with not one but numerous bubbles bursting and financial and monetary crises erupting simultaneously. There is a threat of a meltdown of the global financial system. The coronavirus is not the cause, but the trigger: the needle that bursts a balloon.
Finally, under the title “The Future,” the report comes to Bitcoin. It sees “the potential danger that our monetary system, as well as our financial architecture, will fail.” The only answers that made sense to that, it says, are gold and Bitcoin. “Both will save us and probably make us rich.” Gold, he said, could rise three- or fivefold in the coming years. With Bitcoin, he said, “it’s a completely different story.” The cryptocurrency could reach “up to a million dollars” per coin over the same period, he said. That’s because Bitcoin is “not just a currency or a store of value. It’s a fully trusted, verified, secure ledger system for digital assets.” Such a crisis as the one we are currently sliding into, according to the report, is exactly what Bitcoin was made for.
Massive wealth for investors
Also not a Bitcoin organization is WeissRatings. Weiss is a long-established investment rating company that also regularly issues reports on a wide variety of topics. In one of its latest reports, it addresses Bitcoin’s soon-to-be-announced halving and its impact on the price.
According to Weiss, the halving has the potential to “unleash a historic bull market for cryptocurrencies and deliver massive wealth to investors.” The event will trigger a “massive cryptocurrency superboom” that “will send Bitcoin and other select coins to new all-time highs. That’s because the trigger for this event is right in the code. No government, no organization, and no group of individuals, no matter how powerful or wealthy, can prevent this button from being pushed. And every time before, when this event happened, it triggered an unprecedented bull market for Cryptocurrencies.
So halving is now a historic event not just in the narrow bitcoin scene. Its significance also radiates to the more general financial world. Whether the speculation that it will bring investors outrageous wealth will be borne out, however, is as uncertain as whether Bitcoin would reach a value of a million dollars over the course of the next few years. In my opinion, bitcoiners and investment advisors alike should be cautious about making such predictions. But the fact that they do exist, and that serious investment advisors are now saying exactly what only a few crazies from the Bitcoin scene used to rumor – that can already be taken as a good sign.
Bitcoin as cashback for Visa payments
Don’t spend, accumulate: The Fold app, through which you can pay with Bitcoin at Amazon, Uber and Starbucks, is now also awarding a Visa credit card that pays out the cashback not in the usual bonus points, but with Bitcoin. Unfortunately, it is only available for the USA. But we have a tip on how you can get your Bitcoin cashback here, too.
Well. If there’s one thing that the Bitcoin payments experience shows, it’s that most people don’t want to spend Bitcoins, they want to collect them. Now Fold App, a U.S. startup that allows its customers to pay with Bitcoin at Amazon, Uber and Starbucks, is responding to that. It’s joined by a partner you wouldn’t have expected right away: credit card giant Visa.
Fold App has made it into Visa’s “Fast Track Program.” This allows the app to give a Visa credit card to its customers, paying them cashback of up to 10 percent per purchase – and not in bonus points, as would otherwise be the case, but in Bitcoins. According to the company, this meets the needs of its customers: About 90 percent of the 90,000 users would switch their credit card if the cashbacks were paid out in bitcoin, according to a survey. Most people, says Fold CEO Will Reeves, don’t yet think of Bitcoin as money, but as a way to get better rewards points.
The idea is pretty brilliant. People spend money on their credit cards as usual, but slowly satoshis seep into the wallet in the process. You don’t have to change anything, take any detours, perform any aerial leaps, but earn change in bitcoin. Who would say no to that? Fold App’s customers certainly wouldn’t. That’s why the startup has to set up a waiting list for the credit card, where customers can sign up. The cards will start shipping in June.
You don’t have to worry about being late on the waiting list. Unfortunately, the app only works for customers in the USA. German Bitcoiners are excluded. But you can look into shoop.de in the meantime. This Berlin-based company – which used to be called Qipu – offers cashbacks for online orders and pays them out in Bitcoins if desired. It’s not quite as convenient as using a credit card, because you have to find a link at Shoop every time before you store. But in itself it has the same effect. The cashbacks here are between one and 10 percent. In 2014, about half a year after Shoop introduced Bitcoin payouts, almost as many people used the cryptocurrency as PayPal.
Which also confirms in German e-commerce what became the idea behind the credit card at Fold App: Most people would rather collect Bitcoins than spend them.
