Mark Jeffrey, author of the 2013 book "Bitcoin Explained Simply", remains optimistic about Bitcoin's future despite the current climate. By analogy with an uncomplicated dot-com boom-and-bust cycle, he predicted future growth for $ 250,000.
We are currently experiencing a crypto-winter gathering for warmth, but Mark Jeffery thinks that should not come as a surprise. The early Bitcoin pioneer talked about the podcast "The Next Billion Seconds":
I think that's very similar to the dot-com boom and bust cycle that we saw in the late 1990s in the early 2000s
Certainly, the period end of 2017 was analogous to the beginnings of the dotcom boom. Zealous investors who have not failed to notice this have moved their homes just to throw money at everything they ask for.
And when investors realized that they were buying nothing but a vague promise of something, they panicked.
The market is beating back
However, Jeffrey suggests that the process was heavily compressed by the cryptocurrency:
In the dot-com boom and bust cycle it was four and a half years, maybe five years. It was about a year and a half in the crypto world. So it was much faster.
Just over a year into our crypto winter would warm it if it came to an end in the next six months. While Jeffrey does not predict when it will happen, he is confident that the current "dead time" will end.
However, this is not the end of the story. This is the middle part. This is the second act. The third act is the return of the Jedi and we are not there yet.
Return of the Bitcoin
So we are at the end of "Empire"; Bitcoin has lost his hand and Ethereum has been caught and frozen in carbon. And of course thousands of grunts were slaughtered.
But Amazon and Google have become phoenix-like from the ashes of the dot-com boom to become the giants they are today. And there was not even Facebook at the time, as it had already learned the lessons of the boom-and-bust.
The true value tokens will prevail and who knows what else Crypto's Facebook seems to be. Jeffrey insists that "comes" and sticks to his early $ 250,000 bitcoin forecast.
We will know that the tides have changed when the Ewoks appear.
Do you agree with Jeffrey? Share your thoughts below!
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The Post-Bitcoin Pioneer: Next BTC Price Stock will be $ 250,000 on Bitcoinist.com.
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