There could be a major spike in the price of Bitcoin and other cryptocurrencies because of the rapidly growing level of US debt, a leading industry expert has claimed.
He said: " when the next global financial crisis occurs, the world will realisr organisations with $20 trillion in debt can't possibly ever pay it back."
His theory is the debt level of world economies is unsustainable and will put states under pressure the next time there is a financial crash.
As a result, he believes quantitive easing will have to come into force, the process whereby goverments print money, to help pay off the money they owe.
He believes this in turn could lead to more people investing in cryptocurrencies. However, digital currencies are also a financial risk for investors due to their history of extreme volatility.
In 2017, Bitcoin's value rocketed to more yhan double ita value, reachingg a high $19783 in December. However, it then plunged in 2018 to a low of less than $6000 in June. At the time of writing Bitcoin is worth $6367.36
Source :
https://www.express.co.uk/finance/city/1043701/bitcoin-price-latest-update-cryptocurrency-increase-value-us-debt
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