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'XRP Could Fall to Zero or It Could Be Worth a Million Dollars': American Institute for Economic Research

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Mon, 01/27/2020 - 16:00
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  • It could be boom or bust for the price of XRP, according to American Economist Jeffrey Tucker

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During his recent appearance on RT's 'Boom or Bust,' prominent economist Jeffrey Tucker, who serves as the editorial director of the American Institute for Economic Research, made a wild statement that the price of XRP could go either to zero or $1 mln.

"Anything could happen. XRP could fall to zero but it could also be worth a million dollars," Tucker said.   

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$1 mln, seriously?   

Of course, Tucker's words shouldn't be treated as a reasonable price forecast. Instead, he rather emphasized how unpredictable crypto can be without getting too much into the details. 

Considering that the total supply of XRP is 10 bln tokens, its market cap would need to reach one quadrillion dollars to make a $1 mln XRP possible. Only four American companies have so far managed to surpass the $1 trln valuation mark, which means that taking Tucker's words at face value is borderline insanity.   

U.Today has also estimated that XRP is currently down 93 percent from its all-time high of $3.3, which even makes $28 a pie-in-the-sky target for the third biggest cryptocurrency.

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It's hard to value crypto

Tucker also suggested that Bitcoin or any of its forks could also reach $1 mln but it seems far more realistic to consider that BTC's total supply is capped at only 21 mln coins. 

The American economist opined that crypto is "a complicated technology" that cannot be valued in the same way as US equities. However, he is apparently convinced that XRP does have utility since he mentioned that it was thriving off SWIFT's failures back in December.    

Recently, Stock-to-Flow model creator PlanB calculated that BTC had much higher risk-adjusted returns than gold and FAANG stocks but multiple critics cautioned him against putting these assets in the same basket.          

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Wed, 04/01/2020 - 07:13
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  • Mike Novogratz is convinced that when central banks make money grow on trees, then it's time to buy Bitcoin

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When central banks make money grow on trees, Mike Novogratz, the CEO of Galaxy Digital, has one message for his followers - buy Bitcoin (BTC). 

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Yes, money does grow on trees   

'Money doesn't grow on trees' is a popular expression that parents constantly hammer into the heads of their children. It means that money is a limited resource and encourages people to put in a significant effort in order to obtain it. 

However, this fable apparently doesn't apply to the U.S. Federal Reserve and the Bank of England, who unleashed unlimited liquidity to save the ailing global economy from the coronavirus-driven fallout. 

As absurd as it sounds, fiat money does grow on trees in 2020 (at least for central banks). 

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2020 could be Bitcoin's year 

Against this backdrop of incessant money printing, Bitcoin, a disinflationary currency whose total supply is strictly limited to 21 mln, has never seemed more attractive. Novogratz described it as the strongest bull case for the benchmark cryptocurrency. 

Even though crypto failed to perform as a safe haven during the coronavirus-driven sell-off, the Wall Street bull recently opined that 2020 could end up being another big year for Bitcoin.     

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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