The fundamental reason why the world of decentralized money is growing very fast is the need for financial freedom. Cryptocurrency came into play because people want the ability to control their funds. The chief executive officer (CEO) of Binance recently reminded the crypto-verse about this principle. He also released a bold Bitcoin price prediction 2019, adding that a Bitcoin bull run and crypto bull run is by the corner.
The CEO of Binance – Changpeng Zhao also known as CZ – is an outspoken cryptocurrency bull. CZ is very popular in the digital currency space. He is also on the list of top Bitcoin bulls we have in the crypto space. Some other top crypto bulls are Tim Draper, Tom Lee, and Mike Novogratz. Tom Lee Bitcoin price prediction 2019 and Tim Draper Bitcoin price prediction 2019 has been attracting many to the space. Tom Lee released a bullish Bitcoin price prediction last year. While that value wasn’t achieved, the Bitcoin bull has released another Bitcoin price prediction 2019.
Cryptocurrency Will Surge 1000x against Fiat Currency
CZ said that fiat currencies are created at the will of governments. As a result of this, one day, digital currencies will surge 1000x more than sovereign currency. The CEO disclosed this bullish crypto news via a tweet. However, he didn’t specify if the surge will be in the number of users or the value of cryptos. The tweet of the CEO was a response to Anthony Pompliano’s tweet, quoting the former chairman of the Federal Reserve of the US – Alan Greenspan.
A lot of financial experts are saying that Greenspan and his not sufficiently strict regulations against big banks were core in the Financial Market Collapse of 2008. Greenspan had earlier commented this about United States’ debts.
“The US can pay any debt it owes because we can always print money to do that.”
While countries can pay any debt with printing power, there will be a decline in the decrease in the purchasing power of the currency. As they print more currency, the currency becomes more available, resulting in a decrease in its value.
The Government’s Power over Printing Fiat Currency Will Increase Crypto Adoption and Value
The CEO of Binance and other crypto bulls believe that this defining principle is the core reason why cryptocurrency will take over the world. The halving protocol of Bitcoin is already in place to prevent such situations. The halving protocol of Bitcoin reduces the block production reward by half, after the production of every 210k blocks.
In 2009, miners receive about 50 Bitcoins as a reward for block production. The first halving in 2012 reduced the reward to 25 Bitcoins. In 2016, the rewards declined to 12.5 Bitcoins per block, which is still the current reward rate. The next halving is coming up in May next year. The halving will reduce the reward per block to 6.25 Bitcoins.
Bitcoin (BTC) Price Today – BTC / USD
At the time of writing according to CoinMarketCap, Bitcoin (BTC) is trading at $4,153 after a decrease of less than one percent over the past twenty-four hours. The digital currency currently has a market cap of $72.07 billion. The trading volume of Bitcoin (BTC) over the past twenty-four hours is $13.03 billion.