Back in 2013, The Bitcoin price skyrocketed from under $30 to $1,200. The reason for the huge price surge were many, including the rapid interest and adoption of Bitcoin, as well as an escape haven from the global financial system which was showing signs of faltering. At the time, Cyprus had severe banking problems, and the global banking oligarchy decided to create the first “bail-in.”
We ask you, would you rather leave your money in the bank, only to have the bank take as much as 75% of your money in order to rescue itself, or would you want to hold your wealth in a form that your bank could not grab?
The answer is obvious. Nearly 100% of the people would rather keep their money rather than let their bank take 75% of it.
People turned to Bitcoin because the banks didn’t have control over it and couldn’t confiscate it.
The next Bitcoin price skyrocket will occur when the next widespread financial crisis hits. As of March, 2016, it appears that this year will see this event develop. Global trade has slowed to a crawl, the Chinese financial system has been showing signs of duress for nearly a year (China’s stock market crashed in the summer of 2015, and it’s not done going down), and despite the rosy election-year claims by the U.S. Government, the U.S. economy is slipping into a recession and the Federal Reserve is out of ammunition to do anything about it.
When the mainstream financial system experiences crisis, the Bitcoin price will skyrocket.
The possibility is high that this is the year for it.