Bitcoin trends at the moment appear to be building bearish momentum as the asset failed to reclaim $9,000 over the weekend. The down trend seems to have resumed so analysts are now turning their attention to long term scenarios and four have emerged.<\/p>\n
Aside from day traders seeking quick profits most people would get into Bitcoin for the long term potential<\/a>. It is still a very high risk asset but if those risks pay off then the rewards could be immense. If BTC fulfills its destiny as a global currency of major store of wealth just holding a little bit of it could be life changing.<\/p>\n Trader and analyst Alex Kr\u00fcger has been looking at possible scenarios for the future of Bitcoin prices and its role in the global financial system.<\/p>\n The first scenario is that BTC becomes a global reserve currency and hodlers today get immensely rich. This is pretty unlikely however due to its inherent lack of stability and the fact that there are a few whales that control an unhealthy proportion of the supply.<\/p>\n The second is on the same lines with Bitcoin<\/a> scarcity continuing to push prices higher as it keeps outperforming with investors doing very well.<\/p>\n Thirdly is a scenario whereby BTC settles into a wide range as most commodities do after a few major rallies. While the fourth scenario is the nightmare one in which Bitcoin dumps back to near zero making the asset worthless.<\/p>\n Four long-term bitcoin scenarios<\/p>\n #1 Bitcoin becomes a global reserve currency. Current hodlers, all proven to be early, get immensely rich.<\/p>\n #2 Scarcity keeps price going up forever. Bitcoin continues to outperform. Investors do extraordinarily well.<\/p>\n — Alex Kr\u00fcger (@krugermacro) November 16, 2019<\/a><\/p><\/blockquote>\n\n