According to the latest tweet, Peter Brandt thinks that Bitcoin doesn't necessarily outperform the collapsing financial system.

But he believes in the long-term story spread by cryptocurrency advocates.

I believe the long-term narrative. Yet, just because my generation (Boomers) ruined the financial system does not automatically mean BTC will do a moon shot.

- Peter Brandt (@PeterLBrandt) April 13, 2020

"I believe into the Long-term story. However, just because my generation (Boomers) broke the financial system copper means with the BTC will make a shot moon shot”.

Bitcoin milestones

Central banks offer unlimited liquidity to save the global economy which is arguably the perfect environment for Bitcoin. However, so far, the world's largest cryptocurrency has failed to meet the 'Japanization' of the Western monetary system.

"Digital gold" is struggling to separate from US stocks after the correlation index between the two asset classes recently reached an unprecedented high.

However, Mike Novogratz believes that ‘money falling from the sky’ will turn 2020 into the year of Bitcoin. Meanwhile, Cameron Winklevoss tweeted that the Corona virus crisis will be the turning point for the cryptocurrency industry.

This pandemic will be an inflection point for Bitcoin and the Metaverse.

- Cameron Winklevoss (@winklevoss) April 12, 2020

There is no intermediary basis

Brandt is known for its huge price predictions. Back in December, he set a scenario of massive price increases for Bitcoin $ 100,000 by 2020.

After the market fell in March, the charting expert completely changed his view, suggesting BTC could eventually reach zero.

Ross Ulbricht, the founder of Silk Road, also claimed that the 'Dark Thursday' disabled the $ 100,000 price, which is why Ulbricht is now forecasting much lower.

Top Wall Street executives hope society will turn the tide

Although Bitcoin investors anticipated a period of stagnation, what happened for several weeks in the global economy was completely unexpected, even for some of the most radical thinkers.

To prevent the economic impact of the Corona virus and subsequent quarantine, the government and central bank seem overwhelmed, urging people not to move from their homes.

There is also growing suspicion among organizers, highlighted by the clip below on the CNBC program, in which the Bitcoin bull was notable by Social Capital's CEO Chamath Palihapitiya and was one of the earliest CEOs. Facebook's critique of hedge funds and White House-backed corporations.

The clip was spread widely, attracting tens of thousands of likes on Twitter. CEO Chamath Palihapitiya said:

The U.S. shouldn’t bail out billionaires and hedge funds during the coronavirus pandemic, Social Capital CEO Chamath Palihapitiya says. “Who cares? Let them get wiped out. ” https://t.co/dIbizumtqG pic.twitter.com/u8BSVvr0B1

- CNBC (@CNBC) April 9, 2020

“The United States should not Guarantee of billionaires and hedge funds during the Corona virus pandemic. Who cares? Let's put them aside ”.

Building social pressure is almost tangible. And so, famous investors are starting to call for "new systems" or "new world orders" to replace organizations.

Some say Bitcoin and cryptocurrency are the basis of the upcoming world order.

Months ago, as the stock market continued to hit all-time highs and user confidence exploded, Ray Dalio co-director of the world's largest hedge fund released a series of blog posts. very attractive.

Most notably of these were posted in November 2019 with title "The World Has Gone Mad and the System Is Broken". Dalio explained that the world is heading to a point where money will become increasingly "free" because of extremely low interest rates, the government's budget deficit will "increase significantly", consolidation financing is abolished and The gap between rich and poor continues to increase.

Dalio's judgment has been completely accurate in the past few weeks. The four trends that he claimed society would soon see took place just a few months after the prediction:

Federal Reserve reduces policy interest rate to 0%

The deficit of governments soared, especially in the United States

Consolidation financing was abolished when central banks printed billions and trillions of dollars

And most notably, the level of guarantee for companies has been controversial. Many people think that is too big for the $ 1,200 check that all Americans will receive soon.

5 months ago, Ray Dalio predicted:

- Sound finance would disappear
- Deficits would skyrocket
- Trickle-down system (QE + bailouts) would be proven destructive

Something all happening.

He now expects a "new world order," and there’s a non-zero chance that this order will be Bitcoin. pic.twitter.com/Lb9wyg8lYd

- Nick Chong (@_Nick_Chong) April 12, 2020

“Five months ago, Ray Dalio predicted:

- Finance perfect will disappear

- The deficit soared

- System benefit (QE +Guarantee) proved to be element destructive

All are happening.

Now, he expected the "new world order" and this order would be Bitcoin. "

Accordingly, Dalio comment in the recent TED Talk, that a new monetary system could be created in the midst of this crisis, calling it a "new world order".

Notably, Dalio is not a Bitcoin fan. For example, he announced at the Davos World Economic Forum earlier this year that BTC is not a currency because it is neither a widely used account nor a store of value.

But happily, many institutional investors have become crypto bulls based on Dalio's comments about the state of society, claiming that they demonstrate how Bitcoin and the rest of the industry will be effective soon. batch accept.

It could only be Bitcoin

Although cryptocurrencies are only in the early stages, many famous investors think that the current crisis will make emerging industries a focus of attention in taking over many industries of society. or use Dalio's term "new world order".

Former executive and hedge fund manager Raoul Pal of Goldman Sachs explained in an interview responding to the recent crisis in global markets:

“Many of you don't know it, you're still debating whether Bitcoin is real or not, but there are literally hundreds of thousands of people and billions of dollars racing to build new systems, even if it's a mechanism. payment, storage, custody or verification. Everything is happening ”.

Dan Morehead Pantera Capital agrees, saying that Bitcoin will be "ripe" in the midst of crisis.

And Chris Burniske of Placeholder Capital commented:

“New technologies emerge when old systems are broken and often need a crisis to fully disclose the vulnerability of the old system. ”

Indeed, cryptocurrencies moving to the forefront of the crisis may come true because Dalio's investment argument that the rising debt bubble over the past few decades will soon burst, proves the value of Bitcoin. .

Many scenarios were written by Scott Minerd of Guggenheim determined all suggest that the collapse of the debt bubble will raise the price for Bitcoin in some way.

In the case of debt restructuring and the elimination of loans, Bitcoin benefits as an unrelated asset. In the case of negative interest rates, BTC becomes a challenging asset. In the event of devaluation of fiat money, cryptocurrencies are increasingly scarce with an increasingly limited money supply.

As many people have said, there is a perfect storm for Bitcoin. Whether or not the ability to take advantage of that storm is still a matter of the future that no one has dared to say before.

Thuy Trang

According to AZCoin News

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