Bitcoin Will Go to $100,000 In Due Timeimgur.com
Bitcoin is grossly undervalued. Looking at the price trend in a LOG format gives more of a realistic view of how Bitcoin price action works. And $100,000 is an inevitability in due time.
Currently, the U.S. controls global monetary flow. Through its virtual monopolization of FED Wire and SWIFT, U.S. can bankrupt weak countries at will by placing embargoes and cutting them off from global finance. The EuroDollar, PetroDollar and US Dollar as a global reserve currency are all antiquated ideas that don't fall in line with global trend of decentralization that we see in everything. Quite frankly, U.S. ability to sanction any country it doesn't agree with is becoming quiet cumbersome to its allies and commerce in general. For example, decades long U.S. sanctions on countries like North Korea, Sudan, Iran, Syria and Cuba have done little to stabilize respective countries and surrounding areas.
As U.S. threatens slightly more powerful countries like Russia and Venezuela when the U.S. doesn't get their way, it becomes a disturbance to global commerce and stability. Bitcoin as an alternative to FED Wire and SWIFT in itself should give it an astronomically higher valuation than $64 Billion that we see today. In 2016 alone, the FED Wire system processed some 148.1M transactions valued at $766.7 T. As U.S. struggles to maintain its hegemony, more sanctions should be expected. And at some point these sanctioned countries will vie for an alternative vehicle to move money. And these countries would prefer a decentralized vehicle than to play the same game with different players. I expect future sanctioned countries to utilize cryptocurrencies as a future medium to transfer money.
