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Yesterday, Ryan Selkis, founder of the leading cryptocurrency analytics firm Messari, published a prediction about how the Fed Reserves decision to continue printing money out of thin air may affect the price of Bitcoin (BTC). Today he has been joined by two extremely powerful entrepreneurs from the blockchain sector.
Upside is infinite
The policy of unlimited U.S. Dollar injections into the American economy may send the Bitcoin (BTC) price to infinite numbers. That said, this process may cost the USD its status as a reserve currency, Mr. Selkis admitted.
Once this policy lets the Bitcoin (BTC) price exceed the $250,000 level, it will mean the start of hyperinflation of the U.S. Dollar. In this case, the Bitcoin (BTC) price may break above 'thousands or millions', according to the analyst.
Erik Voorhees, CEO of the Shapeshift crypto exchange ecosystem, is sure that the Bitcoin (BTC) price may reach seven-digit numbers even without hyperinflation of the U.S. Dollar. For him, $2.5M for one orange coin doesn't look impossible.
You need to add a zero to that. $250k bitcoin would only mean it had barely surpassed golds market cap. Doesn’t require USD hyperinflation. $2.5m BTC might though
Even more bullish
Brendan Blumer, co-founder and CEO of the Block.one team behind EOS.IO open-source software, is also certain that the crypto king doesn't need the collapse of the world financial system to reach these unbelievable numbers. According to him, it will only take some time.
As U.Today previously reported, the U.S. Fed Reserve's decision to take new 'infinite' QE measures may turn the crypto market wildly bullish. Shortly after this announcement, the Bitcoin (BTC) price surged almost 11% and touched the $6,600 level on some spot exchanges.