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This is a scenario we would all like to see … and of course, eliminating global debt would also be a good thing. But is there a way to get there? Maybe, according to Lucid Investment Strategies. Hang on to your hats though; it's going to be a bumpy ride.
Five to one, baby. One out of five.
The global financial system has embarked on an untenable path where unconstrained debt growth has become uncontrollable.
Thus begins a new article describing the potential rise of Bitcoin to 10 million dollars. As for the premises, it is difficult to discuss. Figures from the Institute of International Finance estimate global debt at around $ 247 billion and global wealth at $ 317 billion. Significantly however, over the past 20 years, debt has risen by 394%, while wealth has increased by only 133%.
The rise of the Bitcoin standard is one of the five options proposed to solve this situation. But it's the one that interests us the most, so let's ignore the other four.
No one here comes out alive.
At $ 10 million, Bitcoin could provide the world with a stable reserve currency, unable to inflation or deflation. It would replace sovereign currencies and constitute the ultimate "store of value". Of the five alternatives proposed, Lucid plans to offer a permanent solution, offering the best benefits, with the least collateral damage.
But, as things stand, the huge initial promise of Bitcoin has been diminished by thousands of imitating altcoins. These paralyze the entire space with their "enhancements" to the original, although regulators like the SEC are beginning to make distinctions between Bitcoin and others.
The next big step of this journey will be the total decimation of altcoins.
You get yours, baby. I will have mine
The altcoins are dead, which means that the demand for Bitcoin is increasing. Since "the most democratic demand of all time", the increase in demand equals the price increase of the BTC 00. But first we have to have the low, which, according to Lucid, will be less than $ 1,000. Sorry. But then…
the road will be free up to $ 6,000. Above $ 6,000, there will be minor bumps at $ 7,500 and $ 8,500. The range of $ 10,100 to $ 11,100 will be the second major challenge. Above that, the resistance will fall quickly. However, additional resistance appears at $ 13,750 and $ 17,500, which will be tested and overcome. New highs above $ 19,666 remain the last hurdle.
At this point, Lucid is planning the media frenzy. The road becomes smooth as hedge funds and family offices jump on board and investors gain confidence. We are predicting temporary hurdles at $ 50,000 and $ 100,000, but now market capitalization has absorbed $ 1.7 trillion of the global stock market. Latecomers are obliged to act.
Will do it, baby, if we try.
Bitcoin is starting to eat in the $ 7.5 trillion gold market. The market capitalization of the $ 400,000 gold has been usurped. Previously, if the price of gold dropped when investors switched to Bitcoin.
We now need three things to reach a million dollars. Developers must meet deadlines, transparency and promised costs. Institutions must fully accept Bitcoin. Regulators around the world must determine that Bitcoin is an entity separate from any remaining cryptocurrency.
This achieved, we clearly exceeded the million dollars. It is a serious badet that even the most conservative institutions can no longer ignore. We board the $ 10 million high-speed shuttle.
…
Of course, we no longer have any significant amount. We all had our price to sell. Now, Bitcoin is in the hands of central banks. It's their best chance to save the system and retain their power, according to Lucid.
Do you agree with Lucid Investments? Share your thoughts below!
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