Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Messari Co-Founder: Bitcoin Could Follow Gold’s Path to New All-Time High

by Daily Hodl Staff
August 9, 2019
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

Bitcoin’s price could drop significantly before reaching a new all-time high, according to Dan McArdle, the co-founder of leading crypto research firm Messari. 

McArdle, a former web developer and support engineer, tells his Twitter followers that Bitcoin could copy gold’s price movements in the future.  

I would not be surprised if BTC performs like gold did 2008-2011. Initial spike on fears of crises, big fall as liquidity crises actually sets in, followed by even bigger rise as real debt/sovereign/currency fears take hold. https://t.co/VqUporq2xE

— Dan McArdle (@robustus) August 7, 2019

The price of both Bitcoin and the gold bullion have increased considerably this year, and McArdle believes that financial markets could see a weaker dollar in the next few months. He also shares insights from macro investor Raoul Pal who tracks leading fiat currencies that are currently struggling against the US dollar.

Pal argues,

“Gold is rightly doing its job, sniffing out a big problem and is exploding higher, outperforming even the super strong dollar as gold begins to price in an end game of an eventual massive readjustment of the dollar (in 12 months? 18 months?).”

During an episode of Stevan Livera’s podcast on July 29, Pal notes that Bitcoin could surge dramatically in the coming years with the global money supply and global debt currently valued around $80 trillion.  

Given these figures, Pal says,

“Let’s say you have a 10% probability [that Bitcoin takes a cut of the $80 trillion], that’s $8 trillion. It’s currently worth [a little over] 200 billion dollars. So even if there’s a 1% chance of working… what it’s telling you is (Bitcoin is) ludicrously underpriced if any of these probabilities play out.”

Pal is not the only one who’s bullish about the flagship cryptocurrency. Legendary billionaire venture capitalist Tim Draper recently doubled down on his prediction that Bitcoin will reach $250,000. 

In an interview with Yahoo Finance, Draper says it will take a little longer for Bitcoin to reach a quarter of a million dollars, because “it has consolidated more than [he] thought it would.”

Says Draper,

“I thought there would be many more competitors at this point that were really relevant, but people have consolidated towards Bitcoin because it’s decentralized.”

Previously, the founder of Draper Associates had predicted that Bitcoin would hit the $250,000 mark by 2022. 

Bitcoin is currently trading at $11,800, up .6%, according to CoinGecko at time of writing.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$48,378.00
$48,378.00
8.14%
Ethereum
$1,539.15
$1,539.15
12.73%
Binance Coin
$255.88
$255.88
21.39%
Polkadot
$35.42
$35.42
14.23%
Cardano
$1.28
$1.28
2.58%
XRP
$0.436000
$0.436000
4.81%
ADVERTISEMENT

Spotlight

  • Lark Davis Urges Launch of Ethereum 2.0 Amid ‘Crazy’ Fees, Exodus to Binance Smart Chain
    February 22, 2021
  • Coinbase Reveals It Has Executed $1,000,000,000 Crypto Buys for Some of the Largest Institutions in the World
    February 26, 2021
  • Top Crypto Analyst Says One Altcoin Will Recover Stronger and Faster Than the Rest
    February 24, 2021
  • Crypto Trader Lark Davis Lists Top Six Altcoins To Buy in March
    February 28, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.