Subscription form:


Subscribe to our newsletter


Articles



Software


Portfolio Management

Easily Invest Across Multiple Crypto Exchanges at Once


Machine Learning

Artifically Intelligent Predictions


When Argentina's Currency Fails Bitcoin Will Quadruple
News Analysis

Written by Jordan Bodnar, 28.11.2017

Card image cap



Join Our Telegram Group



James Altucher the American hedge fund manager and author of Choose Yourself Financial says cryptocurrency is here to stay. As only 1% of the world is currently in the coin market and 95% of all bitcoins are already mined the demand will soon far exceed the supply. He predicts that bitcoin will rise to over $50 000 when the currency of Argentina or Venezuela soon fails.

Let's look at the math on the demand side. The average yearly salary is $10 000 in Argentina. 48M argentines live under a currency that has seen rampant inflation. Per say the entire country switches over to Bitcoin as the major currency that's $480 Billion in Bitcoin that would be bought.

Bitcoin's current market cap is $184 Billion. The demand in Argentina alone would be 260% that of all the money currently in the major cryptocurrency. That would create a hell of a jump in BTC price.



News Analysis

Scrape every source of information for the most significant insights.

From Reddit and Twitter to Bloomberg, CNBC, New York Times, Google Trends and More.

$1/Month

Cut News Analysis Now
*Limited Time Only

Next Big ICO

Don't waste time searching through every new ICO to find the next gem.

We'll get you the most relevent data - from early news trends to pricing correlations.

$1/Month

Get the Next Big ICO Now
*Limited Time Only

Get Out Before Big Drops

Worried about an overnight drop?

Our algorithms detect significant risky timeperiods and cash out your investments when times look uncertain.

$1/Month

Get Risk Aversion Now
*Limited Time Only