TL;DR
- Forbes indicates that a US economic recession could boost cryptocurrencies, especially bitcoin, Ripple and ethereum.
- Predictions from experts such as Christopher Wood and Robert Kiyosaki suggest a shift from the US dollar to bitcoin and gold.
- Following legal victories against the US SEC, Ripple’s XRP could further benefit from the 2024 trial and potential banking partnerships.
Financial Crash = Cryptocurrency Bull Market?
The American business magazine Forbes recently published a report according to which the American economy and the country’s official currency could collapse for various reasons. Some factors contributing to the potential catastrophe are the United States’ “debt death spiral” and the massive printing of fiat money initiated by the Federal Reserve.
The entity bitcoin–ethereum-xrp-and-crypto-price-boom-to-rival-gold/” target=”_blank” rel=”noopener” data-wpel-link=”external”>My dear that such a dark scenario could be very beneficial for the cryptocurrency industry, with bitcoin (btc), Ripple (XRP), ethereum (eth) and other assets recovering towards new peaks amid uncertainty in traditional finance.
“Such inability to exit unorthodox monetary policy in a benign manner is likely to culminate in the collapse of the US paper dollar standard to the benefit of both gold bullion owners and bitcoin owners,” Christopher Wood, Global Head of actions. strategy at Jefferies – he said.
Forbes is not the only entity that has predicted a cryptocurrency bull market in the event of a future economic crisis. Japanese-American businessman and author – Robert Kiyosaki – He suggested Early this year, the US dollar will “die,” prompting investors to focus on btc and precious metals. Those interested in learning more can watch our dedicated video below:
Could 2024 be the year of XRP?
Ripple’s native token has been the subject of numerous price predictions lately, especially after the blockchain company scored two wins in a row in its legal battle against the US SEC. The asset soared more than 70% after the first judicial decision in July and more than 6% last week when the magistrates not allowed the regulator to appeal the ruling.
According to ChatGPT, the test between the organizations (scheduled for April 2024) could be pivotal to an eventual XRP bull run. Other factors that could immediate a price increase could be due to banking partnerships or adoption by financial institutions, the ai-powered language model added.
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