Bitcoin Free Fall Predicted To Zero, Is It Possible?

 The horrendous news has come back from the crypto world. One of the richest people in the United States, crypto currencies such as bitcoin cs will later be worth zero or no price.

Prediction is said by investment manager John Paulson. The figure with a wealth of USD 4 billion according to Forbes was also accurate in projecting the fall in house prices in Uncle Sam's country in 2008.

“Cryptocurrencies, putting their trade aside at this point, will eventually prove worthless,” Paulson told Bloomberg.

"Once the luxury wears off or the liquidity 'runs dry', it becomes zero (value). I would not recommend anyone to invest in cryptocurrencies," he added.

According to him, there is no intrinsic value in any type of cryptocurrency except that the amount is limited. For now, he recommends that people invest in other assets such as gold rather than cryptocurrencies because it is risky.

Of course, many do not agree with Paulson's opinion. Several influential figures view cryptocurrencies as the future of finance. One of them is Twitter CEO Jack Dorsey who is one of the world's leading Bitcoin activists.

So enthusiastic, Dorsey even hopes that this cryptocurrency can bring peace in the world. Dorsey says Bitcoin can help address financial inequality and encourage individuals to focus on bigger issues.

"My hope is that this creates world peace or helps create world peace," Dorsey said. In 2018, he even believed Bitcoin could become a single currency within a decade.

Cryptocurrency prices this morning started to get excited. Everything from bitcoin to dogecoin is all green.

Quoted from Coinbase, Friday (10/9/2021), bitcoin rose 1.57%. In the month, bitcoin is down 0.68%.

Then ethereum which also rose 0.15%. During the last month, the price movement of ethereum is still positive 7.85%.

The increase was also experienced by Binance Coin aka BNB. BNB prices this morning rose 6% . Even so, the price of BNB is still positive 20.22% in the last month.

Coinbase also noted a 5.62% price drop experienced by XRP. Over the past month, XRP posted a 36.49% gain.

Last but not least, Dogecoin fell down too. Dogecoin plunged 1.09% . In the past month, Dogecoin is down 1.96%.

Investing in cryptocurrencies is still a debate between the two camps, the pros and cons. Compared to other investment instruments, cryptocurrency is still relatively young.

But judging from the increase, this year crypto seems to be showing its fangs with an astonishing percentage. Call it Bitcoin which rose by more than 100%, Ethereum which was close to 250%, even Doge which was supported by Elon Musk the Boss of SpaceX experienced an increase in value of more than 3000%.

Until finally the price fell, as if it had reached its maximum point. Some people lose billions, companies lose trillions. Reported by Fool, these are the pros and cons of investing in cryptocurrencies. Which team are you?

Reasons for pros investing in crypto:

1. Potential to be mainstream

Today, many companies accept payments and other transactions with cryptocurrencies. That means, crypto has enormous potential to become a mainstream payment instrument later. Plus crypto can provide price protection when inflation.

If crypto goes mainstream, its price could soar to new heights. Bitcoin, some experts estimate it could reach up to USD 500k per token someday. Depending on how widely cryptocurrencies are adopted, there could be a lot of earning potential for early investors.

2. Just try it

Don't have any regrets about not buying a crypto investment in case the price goes up. There are only two choices: lose some of your wealth or increase it.

Reasons for cons investing in crypto:

1. Full of speculation

Even experts are divided about its potential. Tesla CEO Elon Musk, for example, has been an outspoken supporter of Bitcoin and Dogecoin, while Warren Buffett is notorious for not supporting cryptocurrencies.

The problem is that no one knows the future. If you don't like playing with high risk, maybe cryptocurrency is not the right investment for you.

2. Very up and down (volatile)

Even if cryptocurrencies are successful in the long run, for example, it is still a very volatile investment. This year alone, Bitcoin has experienced a 'roller coaster'.

Whether you should invest in cryptocurrencies or not depends on your personal preference and risk tolerance. If you are willing to take more risk in exchange for a higher potential return, cryptocurrency might be the right investment for you. But if you prefer to avoid risk and volatility, there are plenty of other options out there.

So, which team are you on? Pros or cons?

Bitcoin Free Fall Predicted To Zero, Is It Possible? Bitcoin Free Fall Predicted To Zero, Is It Possible? Reviewed by thecekodok on 11:58:00 AM Rating: 5
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