where is Dogecoin

Bitcoin trends are a hot topic even though the altcoin news today are most impressive and coins like ADA and XTZ are posting gains from 4% to 5% while Bitcoin stalls in the $8,500 region. In the news today, we can also see how one analyst weighs down the four longer term scenarios for the largest cryptocurrency, Bitcoin (BTC).

According to Alex Kruger who is very popular in the prediction section, Bitcoin has a major potential in the long term and has a very high risk as an asset. However, Kruger noted that these risks pay off and the analyst weighs the possibility of new bullish runs in the near term, too.

If Bitcoin fulfils its destiny and becomes a global currency and major store of wealth, it could be life-changing. The trader and analyst Alex Kruger has four different scenarios which we are listing below.

The first scenario is Bitcoin becoming a global reserve currency and HODLers getting immensely rich. However, this is very unlikely due to the inherent lack of stability that Bitcoin has – and the fact that there are a few whales controlling an unhealthy proportion of the supply

The analyst weighs the second scenario which implies that Bitcoin may push prices higher as it keeps outperforming with investors doing very well.

Four long-term bitcoin scenarios

#1 Bitcoin becomes a global reserve currency. Current hodlers, all proven to be early, get immensely rich.

#2 Scarcity keeps price going up forever. Bitcoin continues to outperform. Investors do extraordinarily well.

— Alex Krüger (@krugermacro) November 16, 2019

Third on his list is a scenario where BTC settles into a wide range as the commodities do after a few major rallies.

The fourth scenario which the analyst weighs is the actual nightmare – in which BTC dumps back to near zero making the asset almost worthless.

Polling his followers and other members on Twitter, the analyst saw that 47% of over 4,500 respondents picked scenario number three as the most likely in their opinion.

“Almost half are voting “settle into a wide range”. For those voting #3, time for some crystal-balling: where do you see $BTC most likely settling in?,” Kruger said.

Almost half are voting "settle into a wide range". For those voting #3, time for some crystal-balling:

where do you see $BTC most likely settling in?

(in constant dollars)

— Alex Krüger (@krugermacro) November 16, 2019

Some of the respondents also questioned the threat of quantum computing to Bitcoin – but it has been largely accepted that cryptographic algorithms would also evolve and keep up with the technological advances.

“The future halvings are unsustainable as miners have to keep cashing out fiat to pay electricity bills to secure the network.  When there’s no one else left to buy those bags it all ends. BTC has failed as a payments network and now there’s a hollow shell of “store of value,” the analyst concluded.