JANUARY 14, 2020 / 15:28 UTC
LONDON (Fintech Zoom) – Bitcoin Price Prediction 2020 – BTC will be around $70,000 by Alexey Ermakov – Bitcoin is volatile like any other financial or derivative financial instrument, but it is still not without all those shortcomings in limiting productivity. Therefore, it is already finding use as an alternative to saving money in those countries where the national currency is more volatile than BTC, or as a means of transferring value when it comes to large cross-border transactions. There is no way to stop the progression of bitcoin and its advancement in all monetary qualities.
With time, state cryptocurrencies will gain momentum and flourish. It won’t be liked by societies, of course, but governments will not just sit and wait till they lose control of money. Some loyal cryptocurrency fans argue that people won’t use state currencies but we know that, of course, they will. The average person does not pay much attention to such important issues as privacy and security, for example, until they are physically deprived of them in emergency situations, such as crime or a war. When soldiers burst into the house and take all of your property, the need for privacy suddenly becomes very tangible.
Although the whole point of cryptocurrencies in the system of checks and balances is decentralization and state cryptocurrencies entirely contradict this idea, state cryptocurrencies will appear anyway. In fact, instead of distributing power, they will centralize it even more, because they will try to impose control over citizens and track your every purchase at the same time automatically levy taxes on salaries and control sales of goods and services. That’s the key reason authoritarian governments seek to create official state cryptocurrencies. They want to start secretly controlling your money as soon as possible.
Governments will completely displace cash under the guise of one of these three excuses:
- to stop money laundering;
- to stop terrorism;
- to stop crime.
Of course, the fact that most of your money is spent on Amazon, food and rent, has nothing to do with these slogans. But governments can easily manipulate the majority of the population using these slogans and make people do what they want them to do, and people will even start believing them.
However, BTC is now the only financial instrument that can easily cross borders and without restrictions. It will undoubtedly preserve its quality of freedom, and will become an alternative to gold and cash.
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Bitcoin Price Prediction 2020 $70,000