Hi all. So what will take to bring it over 10k again, but this time to stay there? Here, I'll talk about some possible ways for this to happen.
Number 1, as much as some investor n traders would say they don't need China, but they do. If China should bring back allowance to trade in Crypto, it will happen. Some ways this may happen is, China devices a heavy licenses for state approved and state run exchanges. They can also have their banks create a crypto division. I'm sure as other parts of the world becomes more into digital money, China will follow. So, I think it is a matter of time, before China re-engage.
World wide currency war would also will do it. If the inflation or value of money becomes unstable, digital money is an option. That would push Bitcoin up, depending on how bad it is. With Europe not on board with US sanctions on some nations, we are beginning to see a 3-4-currency zones, Russia-China-Iran, Europe zone, US dollar zone and an emerging digital money zones in South America. Regards to South America and other un-stable financial currency areas, I see this as inevitable. Creating or using digital money gives them a certain control over their finances, that taking loans from the World fund or even through China's loans can't touch. You can do a default on the US World Fund or beholden to China for building your infrastructure and taking their loans, but with your own digital money they can't touch it or even know how much if kept in privacy coins.
Here's a third, to a certain degree it would work. This is probably the most controversial. It is the sovereign ability of nations to print money. Any nation that can print their own money, can transfer it to digital currencies. Literally, they can buy as much and rise the value of a digital coin as much as the world will accept. The strong world economic powers have been doing this throughout history. US during the great depression would just put more and more into the books. Then again US during the Nixon administration, totally took it off the books, just made imaginary money. They removed the USD from gold bar record keeping to, as much as wanted, they printed money with the world accepting it. The world accepted because, they made a deal with the Saudis to trade oil by the USD/barrel, which created a demand.
Let's go back to the subject to creating paper money for the so purpose of rising the price of digital money. This is already being done to a lower degree with made up digital coin to fiat money. Tender coin and other direct fiat to digital coins are doing this. It is just like Nixon's fake money, all over again. They say these coins have as many fiat currency to back it up, but who knows. Eventually, they do something so it won't matter. That might be creating merchants who will accept these hybrid coins that is suppose to be real fiat equivalent. This is probably the way to go to bring in more merchants in on this. You will have a digital equivalent coin for all the major national currency, so that trading into the safety of digital if that currency will fall will be quick and simple. You also can make money on the difference.
** Disclaimer This blog is based on my opinions. I am not giving professional advice. Anything written here should be taken as an opinion and is the responsibility of the reader to take due diligence as such. Basically saying I may be wrong, right or neither, just saying its my opinions and my voice.