Many market watchers are of the opinion that Bitcoin is primed for appreciation over time. No one is certain when and what value the cryptocurrency would hit at a specific time, though this has not discouraged wild predictions from people.
In a tweet seen by Cryptoinfowatch from a researcher with the handle Hans Hodle, he stated that the value of Bitcoin would exceed that of the average American family:
“I predict that some time in the next ten years, a single Bitcoin will exceed the price of a median single-family home in the United States. According to Zillow, that price right now is $236,900.”
I predict that some time in the next ten years, a single Bitcoin will exceed the price of a median single-family home in the United States. According to Zillow, that price right now is $236,900.https://t.co/5tIMsZS1D8 pic.twitter.com/x0ee34wmFR— Hans HODL (@hansthered) January 25, 2020
Hans who is a senior quantitative researcher at Ikigai Fund, an asset management firm stated that in the next few years, the trend would be that powerful countries such as Russia, China and economic blocks such the EU would scale down on the United States dollar. People would naturally seek to move their funds elsewhere. And where else would all those funds go if not assets classes like Bitcoin and gold?
“Brush this off, or let me explain how and why it will happen. It all started in 1944 with the Bretton Woods System. Countries abandoned the gold standard for the dollar standard, but the USD was still redeemable for gold.”
With the reversal he’s predicting, the value of Bitcoin would keep appreciating through the coming decade.
“Adding more strain to the US dollar, is that nagging fiscal irresponsibility. Don’t blame the Fed for printing, they have no choice! We are currently running around 4% of GDP in the hole. That’s approximately $1 Trillion dollars per year we have to print.”
He stated that with subsequent inflation which he foresees, the demand for BTC would soar.