Bitcoin Targeting Trillion Dollars to Become Internet Currency Amid Currency Crisis in Weak Economies
If Bitcoin becomes the internet currency, it has a target market of around $8 trillion in the e-commerce industry. Meanwhile, owner of the world's biggest hedge fund predicted that the emerging catastrophe would be intense as countries around the world moving to print money.
From the last few days, Bitcoin price keeps on declining along with the entire cryptocurrency and digital assets market. But it doesn't mean that Bitcoin is going to get lost in the price turmoil. It's just a normal cycle which gets repeated time and again. Regardless of a number of favorable news in the market, it is being affected by the selling pressure and market views that may also involve some major bitcoin wallets being on the move. Similar movements occur in the national currencies, traditional stock market, and even economies.
"target market of around $8 trillion in the e-commerce industry"
Bitcoin supporters have been aspiring for the leading virtual currency to rule the market and go mainstream by becoming a digital currency used all over the world. If Bitcoin captures even e-commerce payment industry, a trillion dollar market is essentially going to be disrupted.
Moreover, the state of affairs would only worsen significantly with the way economic catastrophe is happening and countries around the world are moving to printing more money. Lately, the scoop of President Donald Trump considering the approach of printing money to lower the national debt and balance the federal budget has been doing the rounds.
"President Donald Trump considering the approach of printing money to lower the national debt and balance the federal budget"
The state of affairs around the world economies are immensely acute as is apparent from the fact that Zimbabwe which has been going through hyperinflation is printing a 100 trillion dollar note. According to one comment on Twitter, it is interesting that Zimbabwe launched a 100 trillion bill but could only purvey to print one side of it. People comment that crypto and blockchain haven't produced any notable apps yet, but there is one, BTC, which is a peer to peer value system that has no government in between. For Africans, it's nothing less than a revolution. With the way, world economies are falling and the financial crisis is appearing on the horizon, Bitcoin seems to be the most secure bet.