“Bitcoin unlikely to fall 85%”: Opinion ECHO

Bitcoin: times have changed

Former Goldman Sachs manager Raoul Pal is certain that the cycles in which the Bitcoin price moves have changed. This is mainly due to the changed proportions on the market. in one interview with Layah Heilpern, the crypto enthusiast explains his view that more people are investing in Bitcoin and Co. overall.

I think the cycles have changed. Over time, the highly volatile trends become less volatile. We experienced that at Amazon in its early days. The fluctuations were 95 percent, then 65 percent, and over time they got smaller and smaller. Because more and more people came into the network.

Raoul Pal

This network effect, Pal continues, can currently also be observed on the crypto market and especially with Bitcoin.

The same is happening with crypto now. […] The volatility will decrease. I believe that the dump that used to be 85 percent is now only 50 percent […]. So we already had a bear market. We’ve been in a bear market for over a year. […] It’s unlikely that [der Bitcoin-Kurs] falls again by 85 percent.

Raoul Pal

Accordingly, his future forecast is bullish. After Pal, one would no longer have to reckon with a cold crypto winter, as was the case in the past.

Meanwhile, whistleblower Frances Haugen warns of the dangers of the planned Metaverse from Meta (formerly Facebook). The American points out that problems from the past could repeat themselves. Among other things, she alludes to the repeated privacy scandals of the social media group. In an interview with Politico magazine last week, she said:

she [Meta] have made very big promises about security in the Metaverse. But unless they commit to transparency and access and other accountability measures, I imagine all of the damage we’re currently seeing on Facebook will be repeated.

Frances Haugen

Michael Saylor predicts bullish times for Bitcoin

Not a week without Hopium from Saylor: The Microstrategy CEO predicted an immense bull run for Bitcoin last week. In his view, the cryptocurrency would secure its place in the sun:

A maximalist would look at it and say that the first stop is $500,000 per coin, the next stop is $5 million per coin, and the next stop is $10 million or more because we expect bitcoin to be that turns the paradigm of money and technology on its head. Bitcoin is the foundation of the 21st century cyber economy.”

Michael Saylor

If you would like to have explained such statements a little more well-founded and would like to know why a Bitcoin price of 1 million US dollars is not completely out of thin air, we recommend this article.