If Bitcoin Hits $8K, What Will Happen Next?

5m
cointelegraph

Reddit to Tokenize on the Ethereum Blockchain?

25m
cryptonewmedia

Eidoo Card Is Available for Pre-Order – Seamlessly Connect Your Fiat and Crypto Wallets

30m
cryptonewmedia

Security, Regulations, and Safe-Haven Assets: BeInCrypto Interview with Josh Goodbody (Binance)

40m
beincrypto

Blockchain to Authenticate Coronavirus-Response KN95 Face Masks From China

41m
cointelegraph

Binance Rejects Charges of Embezzlement, Shares Its Side of Story

1h
bitcoinist

Three’s a Crowd: Final Bitcoin Miner Shakeout Points to an Epic...

1h
newsbtc

Dow Jones in Denial as Gut-Wrenching Unemployment Data Hits

1h
cryptonewmedia

Bitcoin Expected to See Major Price Swings from April 11th Up to 19th

1h
coinidol

Petro Couldn’t Save the Cartel of the Suns Conspiracy From the Sting of Sanctions

1h
cointelegraph

Calm Before The Storm For Bitcoin (BTC)

1h
cryptodaily

Binance Responds to Claims it Stole $1 Million Worth of User Funds

1h
zycrypto

Bitcoin (BTC) Price Predicted to Hit $20,000 in 2020 by BitMEX CEO Arthur Hayes

1h
utoday

If Bitcoin Works in Zimbabwe, It Works Everywhere- CoinDesk

1h
cryptonewmedia

PNXBet Launches Live eSports Category Amid Struggles in the Betting Industry

2h
nulltx

Ripple Rebounds, Faces $0.20500 Resistance

2h
coinidol

Bitcoin Price Ignores $2.3T Fed Cash as Pundit Warns of ‘Sucker Rally’

2h
cointelegraph

Bybit Hosts Tether Airdrop to Celebrate the Launch of USDT Perpetual Contracts

2h
cryptodaily

Global Stablecoins Could ‘Pose Systemic Risks’ to EU

2h
bitcoinist

Cryptoassets Continue to Buck the Trend, Says eToro Analyst

2h
cryptoglobe

Ethereum Fraud Case: 4000 ETH Recovered By Korean Authorities With the Help of Binance; Know Here!

2h
coingape

Why BitMEX CEO Doubled Down

2h
cryptonewmedia

Economic Recovery Hinges on Coronavirus Antibody Tests: That’s a Big Problem

2h
cryptonewmedia

Bitcoin Cash (BCH) Network Speed Tanks, Cost of 51% Attack Drops to Dangerous Level

2h
utoday

$24 Trillion US Debt: Could This Be Pushing The Bitcoin Price To Astronomical Heights?

2h
zycrypto


Kraken Exchange Analysis Shows Bitcoin Receive Massive Influx Of Money

Cryptocurrencies could experience massive growth if more funds start flowing into Bitcoin (BTC) and the market in the coming months and years. According to a recent report released by the cryptocurrency exchange Kraken, a generational shift could give BItcoin a $1 trillion boost.

As per the report, a 5% investment allocation and a 2% inheritance tax could help Bitcoin receive $1 trillion in investments by 2044. Although this seems to be far in time, almost 70% of the total funds would be moved in the coming 10 years.

That could push Bitcoin to new highs as the digital asset become a more recognized investment tool and asset. A large number of investors were expecting Bitcoin to move higher in the past years but until now Bitcoin was only able to reach an all-time high of $20,000 in December 2017.

In addition to it, relative to marginal supply, the implied price of Bitcoin by 2044 is expected to be close to $350,000 as reported by Kraken in the report. That means that if the prediction of the almost $1 trillion investment becomes true, then Bitcoin could reach massively high prices.

Kraken explains that younger generations are much more likely to purchase Bitcoin. They show that a survey performed in 2019 reported that 42% of the respondents between 18 and 34 would like to purchase Bitcoin in a range of five years. Meanwhile, only 8% of those over 65% said they would like to do so.

The report keeps explaining that there are some individuals that were born between 1965 and 1980, known as Generation X, that could invest some of the money into Bitcoin. Some of the reasons include the fact they were close to computers, they distrust authority and don’t identify as conservatives, among other things.

Meanwhile, Millennials could be even more likely to do so considering they were born in the era of transparency and mobility, they were surrounded by tech products and they also have a distrust in banks.

The most pessimistic assumption for Bitcoin is that just 1% of the funds inherited by Gen X and millennials is invested in Bitcoin. This would make the price of the digital asset surge to $70,000 by 2044.

9/ The impacts could be big, even if our projections are wrong.

If just 1% of the money inherited by Gen X and millennials is invested in BTC, the price of could grow to $70,000 in 2044.

And again, we’re only talking about the U.S. 🚀

READ MORE: https://t.co/mu9twHedjf

— Kraken Exchange (@krakenfx) March 25, 2020

Currently, Bitcoin is being traded around $6,600 and it has a market cap of $121 billion.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments