According to financial analyst Max Kaiser, Chinese national cryptocurrency will be provided gold, not US dollar. The expert also noted that gold is currently reaching new significant highs in relation to fixed currencies.
This will be a serious threat to the US dollar. Recent reports show that China bought more than one hundred tons of gold. The United States may fall into the trap set by the communist state.
“China will deploy cryptocurrency, which will be provided with gold. China currently has 20,000 tons of gold and will not rely on the US dollar to support its cryptocurrency. ”- said Kaiser.
It is estimated that the People's Bank of China will becomethe first central bank to deploy its own digital currency (DCEP). The financial institution has been working on this project for more than 6 years, now the process is likely to accelerate due to the approval of blockchain technology by President Xi Jinping. Some analysts have no doubt that due to this statement and the subsequent reaction of the Chinese market, the price of bitcoin increased by 40%.
According to Max Kaiser, in the near future Bitcoin will be trading at $ 100,000:
“The forecast is still $ 100,000+, that'sjust a matter of time. But honestly, in dollar terms, this number is infinite. BTC can trade at $ 5,000,000 or $ 10,000,000. ”
Cryptocurrency Exchange CEO Binance ChangpenZhao expects that the price of bitcoin will reach $ 16,000 soon. This will significantly strengthen the economy of China, contributing to the transformation of the communist state into a world superpower.