Turkish lire; Dr
- Forbes notes that the economic downturn in the United States could boost cryptocurrencies, especially Bitcoin, Ripple, and Ethereum.
- Forecasts by experts such as Christopher Wood and Robert Kiyosaki indicate a shift from the US dollar to Bitcoin and gold.
- After legal victories against the US Securities and Exchange Commission, Ripple’s XRP could further benefit from 2024’s experience and potential banking partnerships.
Financial collapse = cryptocurrency bull market?
The American business magazine – Forbes – issued a recent report, stating that the American economy and the country’s official currency may collapse for various reasons. Some factors contributing to the potential disaster are the “debt death spiral” in the United States and the mass printing of paper money initiated by the Federal Reserve.
Entity estimated Such a bleak scenario could be extremely beneficial for the cryptocurrency industry, with Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and other assets rising toward new highs amid uncertainty in traditional finance.
“Such a failure to exit unconventional monetary policy in a benign manner would likely lead to the collapse of the US dollar paper standard to the benefit of both gold bullion holders, as well as Bitcoin holders,” Christopher Wood – head of global equity strategy at Jefferies – opined.
Forbes is not the only entity that has predicted a bull market for cryptocurrencies in the event of a future economic crisis. Japanese-American businessman and author – Robert Kiyosaki – Proposal Earlier this year, the US dollar “will die”, urging investors to focus on Bitcoin and precious metals. Those interested in learning more can watch the dedicated video below:
Could 2024 be the year of XRP?
Ripple’s native token has been the subject of many price predictions recently, especially after the blockchain organization won two straight victories in its legal battle against the US Securities and Exchange Commission. Assets rose more than 70% after the court’s first decision in July, and more than 6% last week when the justices ruled. not allowed The body organizing the appeal of the ruling.
According to ChatGPT, the inter-organizational trial (scheduled for April 2024) could be pivotal to an eventual XRP price rally. Other factors that could Summoned The AI-powered language model added that the rise in prices could be due to banking partnerships or adoption by financial institutions.
Free Binance $100 (Exclusive): Use this link to sign up and get free $100 and 10% off Binance Futures in your first month (conditions).
PrimeXBT Special Offer: Use this link to register and enter code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.