Bitcoin Approaching Bottom, Institutional Money may “Explode Crypto”, as per Dollar Vigilante

The so-called Dollar Vigilante, Jeff Berwick lately sat down with BlockTV to discuss his positive outlook on Bitcoin (BTC). It should come as no surprise that Berwick was bullish on decentralized cryptocurrencies and digital assets. This can be stated especially considering his apparent aversion for government-issued currency, but his comments held acceptance nevertheless.

Berwick first noted, in a shortened version of BlockTV’s interview, that Bitcoin will likely gain revolutionary-level traction once it is well-known as a non-intermediated currency rather than an asset for criminals. He further added that the fact that you can effectively store Bitcoin private keys in your head, even without bank or governmental control, may only add to this archetype shift. Berwick further explained that once even some people understand Bitcoin’s potential, he couldn’t even probably envisage where this movement may set off.

Conversely, the fiat skeptic made a claim that at its core, cryptocurrencies and digital assets are still in a quite infantile state, in spite of the recent ten year anniversary of Bitcoin’s first block. Berwick further noted that many consumers have cast digital assets and cryptocurrencies off, especially following the boom and bust cycle of 2017/2018. However, that was likely just a small blip in the grand scheme of things, as per him.

As per Berwick, as governments continue to struggle to keep their jurisdictions in-check, he expects for this thematic development to continue in the future.

Dollar Vigilante further mentioned some short-term forecasts for this market, which has been beaten to hell and back in the past months. He noted that while he cannot be 100 percent sure of about predicting crypto industry’s developments for 2019, he anticipates that prices have either hit or are nearing the bottom by and large.

Furthermore, he added that with equity markets on the verge of the largest collapse ever, as per the predictions of a number of decentralists, cryptocurrencies and digital assets will likely outperform.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin10,844.08 0.15 % 1.84 % 17.82 %
Ethereum306.96 0.26 % 0.73 % 13.11 %
XRP0.462 0.27 % 2.31 % 7.17 %
Litecoin135.77 0.33 % 3.19 % 0.15 %
Bitcoin Cash473.42 0.06 % 1.94 % 9.53 %