Cryptocurrencies, blockchain, NFT and new trends

Popular Economist: HyperBitcoinization Inevitable; Shares Timeline

Crypto News: After former Coinbase CTO Balaji Srinivasan shook the market with his Bitcoin price at $1 million prediction, there is yet another prediction on hyperBitcoinization, this time from an economist. These predictions are coming in the wake of a 65% Bitcoin price rise in the last three months. Rising concerns of dedollarization and US inflation worries make it an even more credible case for bullish momentum for the top cryptocurrency. Also, the crypto market showed confidence in Bitcoin after the US regional banking crisis led to one of the largest bank collapses since the 2008 economic recession.

US Hyperinflation Followed By HyperBitcoinization

Economist Peter St Onge predicted that Bitcoin could pick up slowly if the U.S. dollar loses its status as the world reserve currency. Stating that a gold backed currency could be a game changer, the economist said the US could potentially face hyperinflation repercussions of a dollar collapse for the US economy. He added that such a system of gold backed currency is guaranteed to work. A gold backed external Chinese Yuan could dominate the global economy, with a one year countdown from the date of execution, he explained.

Live Cryptocurrency Prices, charts and portfolio

ADA Price Prediction: This Bullish Setup Hints Cardano Price Poised For 10% Jump this Week24/7 Cryptocurrency News MATIC Price Prediction: Polygon Coin Price may Lose $1 Mark if this Bearish Pattern Set-off24/7 Cryptocurrency News DOGE Price Prediction: Will Dogecoin Price Surpass $0.1 Mark in April 2023?24/7 Cryptocurrency News LUNC Price Coiling up For a Potential 14% Rise; Is it a Good Time to Enter?24/7 Cryptocurrency News SHIB Price Prediction: Bullish Pattern Prepares Shiba Inu Price for 22% Upswing24/7 Cryptocurrency News Track Crypto Ad

Meanwhile, the U.S. Dollar Index (DXY) took a 0.62% jump on Monday despite the dedollarization worries, after four weeks of drop in value. This week, both Bitcoin and the US Dollar, which are inversely correlated, could see some volatility ahead of the release of the key economic indicator, the Consumer Price Index (CPI) data. It remains to be seen if the Bitcoin price could breach the psychological barrier of $30,000.

Interestingly, the Bitcoin halving, a highly important milestone for the crypto market, could potentially coincide with the onset of hyperinflation effects in the US economy, if China’s gold backed currency gains strength in 2024.