Crypto World's Big Worries and Wild Predictions
The crypto world had a busy week, with experts sharing their thoughts on Bitcoin, Ethereum, and other digital currencies. Let's break down the key points.
Bitcoin's Adoption Slowing Down?
Analyst Willy Woo pointed out that the use of Taproot, a feature meant to improve Bitcoin's privacy and efficiency, has dropped significantly. It's not clear why this is happening, but it's something to keep an eye on.
Peter Schiff's Bearish Predictions
Economist Peter Schiff had some strong opinions:
- Predicted that the price of Strategy Inc. shares could drop by half.
- Set a downside target of $50,000 for Bitcoin.
Schiff is known for his bearish views on crypto, so his predictions shouldn't come as a surprise.
Satoshi Nakamoto's Stash and Quantum Computers
Willy Woo suggested that early Bitcoin investors might try to buy Nakamoto's stash if a quantum computer hack causes a flash crash. This is based on the idea that a quantum computer could break the encryption protecting the oldest Bitcoin wallets.
Bitcoin's Future: $200,000 by 2026?
BitMEX co-founder Arthur Hayes believes Bitcoin could reach $200,000 by 2026. He thinks this could happen because of a new program introduced by the Federal Reserve. Hayes argues that this program is similar to Quantitative Easing, which is a way to inject money into the economy.
Ethereum's Uncertain Future
Ethereum's future is uncertain. There's a debate about whether it's a true form of digital money like Bitcoin or just a technology platform token. In early 2025:
- Ethereum underperformed Bitcoin.
- Lost some of its market share to competitors like Solana.
