Anticipating a Paradigm Shift: Forbes Envisions a $10 Trillion Crypto Market with XRP, Bitcoin, and Ethereum in the Spotlight Amid Predicted USD ‘Collapse
Crypto News – In a recent Forbes article, the spotlight was on an unprecedented shift in the crypto market, with a special focus on XRP.
The report, titled ‘U.S. Dollar ‘Collapse’—Anticipated Shock of $8 Trillion Predicted by Fed Inflation Could Ignite a ‘Pivotal’ Price Surge in Bitcoin, Ethereum, XRP, and Cryptocurrencies to Compete with Gold,’ shed light on a momentous event poised to impact XRP, Bitcoin, Ethereum, and other major digital assets. Forbes argued the potential for a seismic $8 trillion shift away from the US financial system towards the XRP and Bitcoin markets amidst an expected US dollar collapse.
Chad Steingraber, a professional game designer within the XRP community, brought attention to the report for the XRP Army.
The Forbes report acknowledged a recent loss of momentum in XRP and other major cryptocurrencies. However, it expressed optimism with substantial speculation from financial experts.
Projected USD Collapse
The focal point of Forbes’ analysis was the uncertain future of the US dollar as the United States grapples with a daunting $33 trillion debt. The report revealed insights from analysts at the esteemed equity research and strategy firm, Jefferies, who foresee a potential collapse of the USD as the Federal Reserve contemplates restarting its money-printing efforts.
As per Jefferies’ experts, cited by Forbes, Federal Reserve policies could incite a significant price upswing in XRP, Bitcoin, and ETH. The anticipated surge is attributed to the potential of cryptocurrencies like XRP challenging the status of gold as a safe-haven asset, especially as the USD is weakened by ongoing monetary expansion.
In an interview with CNBC, Christopher Wood, Jefferies’ head of equity strategy, emphasized that G7 central banks, particularly the Federal Reserve, are unlikely to smoothly transition away from unconventional financial policies. He opined that these central banks will persist in expanding their balance sheets in some form. Additionally, Wood described Bitcoin and gold as ‘essential hedges’ against the looming threat of inflation.
Wood contended:
“A failure to navigate the exit from unorthodox monetary policy in a benign manner is likely to result in the collapse of the US dollar paper standard, benefiting both gold bullion owners and Bitcoin holders. Bitcoin represents an alternative store of value to gold.”
In conclusion, Forbes posited that a substantial devaluation or loss of value in the US dollar, amounting to $8 trillion, could potentially be redirected towards cryptocurrencies.
It’s noteworthy that the overall crypto market is presently valued at $1.09 trillion. Hence, if $8 trillion were to exit the US market, the crypto industry could transform into a nearly $10 trillion venture.
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