Historical Warning From Analyst Knowing Every Step Of Bitcoin: Check Out Gold!

 

Bitcoin price is booming partly due to the digital gold narrative, among many other important factors. However, a legendary analyst warns investors that this could happen again, reminding investors that an old US Executive Order banned gold. 

So can it really be banned in Bitcoin like gold? According to popular analyst Tony Spilotro, it seems unlikely that this will happen again. Here's everything you need to know about Executive Order No. 6102 ...

Bitcoin becomes digital gold after the pandemic!

Bitcoin is back in the limelight after a three-year bear market. This bull market,Bitcoin‘i 4.000 doların altındaki seviyelerden yaklaşık 60.000 dolara ve 1 trilyon doların üzerindeki bir piyasa değerine çıkardı. Lider kripto para birimi, şu anda değer ataması zor olan spekülatif bir varlık olsa da bazı analistler, Bitcoin başına fiyatı gelecekte 400.000 dolar ve ötesine kadar yükseltiyor.

As the market cap of the cryptocurrency grows and large public companies invest in it, BTC becomes an even more viable competitor for gold and dollars. According to popular analyst Tony Spilotro, Bitcoin is now crushing gold with its better, faster, more secure, all-digital narrative. However, according to the analyst, BTC is still far from fully confronting the dollar as a global reserve asset.

Peter Brandt: Bitcoin could live up to the fate of gold in 1933!

Once upon a time, an important decision was made at a point where the dollar was the weakest and the US was in crisis. US President Franklin D. Roosevelt signed an “Executive Order prohibiting the stacking of gold coins, gold bullion and gold certificates” in the country.

At that time, the US was dealing with the Great Depression, and investors flocked to the safe haven asset to tackle economic difficulties. Sound familiar? Famous analyst Peter Brandt recently pointed out this issue. Peter Brandt warned crypto investors that the same could theoretically happen to Bitcoin. While this may be true in theory, according to Tony Spilotro, things are very different than they were back then.

Tony Spilotro: An Executive Order is not impossible, but it seems difficult

Back then, the government of the United States had far more control over its citizens than it is now, thanks to decentralization and the internet. According to Tony Spilotro, individual wealth is very different today and wealth controlling all capital in Bitcoin has much more say than private individual investors during the Great Depression.

Analyst Holding A Large Number Of Predictions Announced Their Gold Forecasts!

Of course, according to the analyst, this does not make it impossible for BTC to encounter a scenario similar to gold . But as BTC is developing globally, banning it altogether for US citizens will only serve to restrict the country's economic growth. 

Also, according to Tony Spilotro, the major benefit of Bitcoin is that since it lacks a physical form, confiscation would be voluntary or otherwise impossible. According to Tony Spilotro, an Executive Order of this size isn't impossible, but it seems to be difficult.