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Bitcoin Halving: $100,000 might a possibility ‘due to the decreasing dollar-value’

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Bitcoin Halving: $100,000 might a possibility 'due to the decrease in dollar's value'

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Bitcoin halving is less than 10 hours away and the entire crypto community is on the edge of their seats wondering how the third halving might affect the top coin’s price. That excitement is so much that the Google searches for “bitcoin halving” have exceeded by 300% of the volume seen before the 2016 halving event.

Source: Bitcoin halving interest overtime, google trends

Another interesting factor is the effect the halving has on fiat currencies. Charlie Shrem, Bitcoin OG, in a recent interview opined that current excessive money printing by the government might play the main role in BTC’s price hike post the halving along with the diminished supply of BTC. He stated,

“We may get to a $100,000 per Bitcoin, this is not solely because of the coin’s price rise but due to the decrease in dollar’s value.”

Shrem also highlighted that crypto might be the safe-haven the world needs despite its volatility. This makes sense as countries like Venezuela, Zimbabwe, South Sudan, etc. have all been dependent on Bitcoin during the financial crisis and the King coin has proved its potential by giving them the support they require. However, does this mean mass-crypto adoption is not very far? Although the dollar’s value is diminishing every day, one cannot make this the sole case for Bitcoin’s adoption boost in the future.

Along the same lines, sharing his thoughts on how he doesn’t have many hopes on equity markets, Shrem added that the S&P 500 and other assets were nothing but a metric that the government could easily manipulate. He further added,

“The stock market is very manipulatable. I don’t have any faith in it but that does not mean crypto markets are not manipulatable. There have been fake volumes recorded but the current price rise is real.”

Putting things in perspective, it is established that people are looking for an alternate medium of exchange and if the global reserve currency’s value continues to crash, the world might have no option but to turn to cryptocurrency.

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A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.
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