Now that Bitcoin has surpassed the magic mark of 20,000 US dollars, many are wondering what will happen next with the “digital gold”. Crypto expert Robert Schwertner gave us his take on this.
Crypto expert Robby Schwertner sees two ways Bitcoin can continue:
It happened. Bitcoin managed to do what it failed to do three years ago in the “crypto hype”: Surpassing the $20,000 mark. Crypto expert Robby Schwertner, aka CryptoRobby, saw this development coming, as he explains to Brutkasten: “This has been on the horizon since Paypal allowed payment with Bitcoin and some companies are buying massively to hedge against impending inflation.”
“Market capitalization of 1000 billion conceivable”
When asked how the cryptocurrency will now continue, Schwertner sees two possible scenarios:
“Either Bitcoin continues to go up. The market capitalization today is 367 billion US dollars – 1000 billion is conceivable, which means a BTC price of over 50,000 euros,” says the crypto expert, but he also sees a second possible development.
Robby Schwertner: “Completely new group of investors”.
“Or it repeats the scenario at the turn of the year 2017/2018 and the 20,000 is a ‘bounce-back’ limit that cannot be overcome sustainably. However, the fact that a completely new group of investors is now entering the market argues against this version,” he says. Schwertner is referring to institutional investors, pension funds or family foundations that are turning to alternative asset classes due to the threat of inflation “from massive money printing by central banks.”
The “digital gold”
“Bitcoin, which is already being referred to as the ‘digital gold,’ has its finger on the pulse,” concludes crypto-influencer Schwertner: “Values can be transferred in a cheap, fast and in secure way via the Internet. Even although most people don’t believe it yet – Bitcoin meets these criteria.”