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Bitcoin and Litecoin prices will surge significantly and could even replace fiat currency

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The 21st century has witnessed a lot of changes in the financial markets. However many, almost none of the changes, have been as momentous as the introduction of cryptocurrency. Cryptocurrency has become a threat to the regulated financial system in every facet leading to speculations on the probability of some cryptocurrencies such as Bitcoin replacing physical money and blockchain technology substituting central banks in the future.

Many financial analysts have singled out possibilities of revolutionary changes in the financial markets as a result of the emergence of virtual currency. Others argue that Bitcoin does not meet the merit for cash; therefore, the virtual currency cannot replace fiat currency.

Both arguments make sense in their respective rights and its good to measure both arguments to come to an all-inclusive decision. This can only be done by examining both the traditional financial systems and the emerging crypto blockchain technologies. By doing this, we will be able to tell the impact Bitcoin will have on the financial system and whether it can replace fiat currency.

How Does the Traditional Financial System Work?

The financial system is a web of financial institutions governments use to supply money in an economy. Treasury, Central banks, Commercial banks, and Mint are some of these financial institutions.

Every nation uses physical money; therefore, their intrinsic value is determined by governments through their respective central banks. Physical currency exists as stored data, such as bank balances and records of credit and debit card settlements. Money supply is regulated through the minuscule reserve system, where banks and financial institutions are permitted to accept deposits and take loans as long as they have reserves.

The deposit liabilities are usually more than the bank reserve making the money supply to be more than the base money. To ensure banks have sufficient money for withdrawals, the central bank is charged with the responsibility of regulating the whole process of the money supply.

The Demise of Physical Money

According to many financial experts, the days of the dollar being the global reserve currency are slowly coming to their end. It could be substituted from 10 to 15 years from now. The question is not whether it’s going to happen because it is going to happen, the real question is, when. It looks like notable financial experts like Peter Schiff, Bill O’Reilly, Robert Kiyosaki, and Coinbase CEO, Brian Armstrong, agree with these sentiments although having different outlooks of how the whole situation might play out.

From the observation of the market trends and technological advancements being made, we foresee the US dollar falling from being the world’s economic sledgehammer sooner than expected; its fall will be at the hands of virtual currencies such as Bitcoin and Litecoin.

Litecoin Price Analysis

Litecoin has experienced substantial declines in price this year trading at a low of 73.17 US dollars from a high of 323.12 US dollars earlier this year.

But, according to crypto experts, Litecoin has the potential to reach as high as 500 to 600 US dollar, regardless of its current situation. Currently ranked as the 6th most significant digital coin in the crypto market with a market cap of $4.8 billion, Litecoin is no doubt a digital currency worth watching and investing.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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