On the eve of global economic collapse: Can Bitcoin break through $1 million?

In today's ever-changing era, the future of the global economy is full of uncertainty. Many people are beginning to worry whether we are on the verge of an economic collapse. As the author of "Rich Dad Poor Dad", Robert Kiyosaki has repeatedly mentioned warnings about economic crises. In this context, whether the value of Bitcoin can exceed $1 million has become a widely discussed topic.

Bitcoin, the leader of digital currencies, has attracted more and more investors with its decentralized nature and limited supply. As the fragility of the traditional financial system becomes increasingly apparent, more and more people are beginning to see Bitcoin as a potential safe-haven asset. As Kiyosaki said, "In an economic crisis, the rich will protect their wealth by investing in assets, while the poor will be forced to rely on government assistance." So, can Bitcoin become the "savior" of people in the event of an economic collapse?

First, we need to pay attention to the current state of the global economy. In recent years, as central banks continue to release money and lower interest rates, global economic growth has been sluggish and debt levels have soared. The International Monetary Fund (IMF) pointed out in its report that the total global debt has reached a record high, and the debt levels of many countries have exceeded 150% of their GDP. Against this background, the risk of economic collapse has increased significantly.

For example, the outbreak of the COVID-19 pandemic in 2020 brought the global economy to a near standstill, and governments around the world have adopted large-scale fiscal stimulus measures. However, this short-term solution did not fundamentally improve the economic structure, but instead exacerbated the debt crisis. Many economists warn that with the sluggish economic recovery, a more serious economic collapse may occur in the future.

At this time, Bitcoin, as an emerging asset, began to be favored by more and more investors. The total supply of Bitcoin is limited to 21 million, which makes it scarce. And today, with inflation continuing to intensify, many people have begun to regard Bitcoin as a kind of "digital gold". In 2021, the price of Bitcoin once exceeded $60,000, and many analysts predicted that it might exceed $1 million in the future.

However, Bitcoin's price is extremely volatile, which is one of the reasons why it is widely discussed. Although its long-term trend is upward, the sharp fluctuations in the short term make many investors uneasy. For example, in May 2021, the price of Bitcoin plummeted by nearly 50% in just a few days. Such fluctuations not only make ordinary investors panic, but also make institutional investors doubt the value of their investment.

Despite this, more and more institutions are beginning to include Bitcoin in their investment portfolios. Companies such as Tesla and Square have announced investments in Bitcoin and even use it as a payment method. This trend has led to Bitcoin being gradually accepted by the market, further enhancing its status as a digital asset.

At the same time, the development of blockchain technology also provides a solid foundation for the future of Bitcoin. The decentralized nature of blockchain technology ensures the transparency and security of Bitcoin transactions. This makes Bitcoin not only an investment tool, but also a new way of value transfer. As more and more industries begin to adopt blockchain technology, the application scenarios of Bitcoin are also expanding.

However, despite the seemingly bright prospects for Bitcoin, it still faces many challenges. Regulatory issues are a major obstacle to the current development of Bitcoin. Governments have different attitudes towards Bitcoin, with some countries taking an open attitude towards it, while others have chosen to ban or restrict it. For example, the Chinese government announced a complete ban on Bitcoin mining and trading in 2021, causing the price of Bitcoin to fluctuate instantly.

In addition, the environmental issues of Bitcoin have gradually attracted attention. The issue of energy consumption in the Bitcoin mining process has sparked widespread discussion. According to some studies, the electricity required to mine one Bitcoin is equivalent to the electricity consumption of an average household in a year. This has led many people to question the sustainability of Bitcoin.

In this context, many people have begun to pay attention to the rise of other digital currencies, such as Ethereum and Ripple. These digital currencies not only have certain investment value, but also show great potential in the fields of smart contracts and decentralized finance (DeFi). Although Bitcoin is the "big brother" of digital currencies, the competition in the future will be more intense.

Despite the challenges, the future of Bitcoin is still promising. As more and more people realize the fragility of the traditional financial system, Bitcoin is gaining more and more recognition as a new way to store value. Especially in times of economic turmoil, Bitcoin may become an important means for people to protect their wealth.

In this context, many people began to think about whether Bitcoin should be included as part of their investment portfolio. As a high-risk, high-return asset, Bitcoin is suitable for investors who have the ability to bear risks. For ordinary people, the most sensible choice is to reasonably allocate assets and diversify investment risks.

In general, the uncertainty of the global economy makes the future of Bitcoin full of possibilities. Despite facing multiple challenges such as regulation and environment, Bitcoin, as an emerging digital asset, is still attracting more and more investors. In the future, whether Bitcoin can break through $1 million and become a "safe haven" in the event of an economic collapse is worthy of our continued attention.

In this rapidly changing era, investors need to not only pay attention to market dynamics, but also have a deep understanding of the economic environment. As an emerging asset, Bitcoin is gradually changing our view of wealth. Against the backdrop of global economic turmoil, whoever can seize this opportunity may stand out in the future battle for wealth.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120BTC.COM) News: Robert Kiyosaki, author of the best-selling financial book "Rich Dad, Poor Dad"
Kiyosaki once again expressed his true feelings about Bitcoin in an interview on the 14th, saying that the U.S. federal government, the Treasury Department, the Federal Reserve and Wall Street are not trustworthy and are the common enemy of the people.
At the same time, he published another article earlier yesterday (15th) praising Bitcoin as "the people's currency", saying: If stocks and securities collapse, gold and silver will soar. If the world economy collapses, Bitcoin will rise to $1 million and gold will rise to $7,500...
Rich Dad author predicted recession many times
But this is not Robert
Kiyosaki said for the first time that the global economy will collapse and Bitcoin will skyrocket. Recently, he judged that the US economy will go down due to reasons such as "the deterioration of US finances in the next three years" and "the growing government debt burden".
He has repeatedly criticized the Federal Reserve for continuously printing money for many years, causing the continued depreciation of the US dollar. Cash is garbage and fake currency in 2023. He is optimistic that the scarcity of gold, silver, and Bitcoin will make them priceless treasures.
In response to the recent wave of de-dollarization, he also predicted in a tweet at the end of July that the BRICS countries might launch gold-backed cryptocurrencies, leading to a depreciation of the US dollar. He suggested buying gold and silver to hedge against possible inflation, and predicted that Bitcoin will reach $120,000 in 2024.
BITCOIN VOLATILITY Hits Record Low
As for cryptocurrencies, Bitcoin has been consolidating between $28,500 and $30,000 for more than a month. According to data from TheBlock, the annualized volatility of Bitcoin's 30-day price has now dropped to 15.5%, a record low, and trading volume has continued to decline.
History tells us that such low data usually usher in a significant change in volatility in the future. Although there have been more increases in past experience, investors must still think carefully due to the uncertainty of the global economy.
Whether Kiyosaki's prediction will come true this time remains to be seen.

Perhaps, in the near future, we will see the price of Bitcoin exceed $1 million and become a new benchmark for the global economy. But in any case, staying vigilant and investing rationally is the attitude that every investor should have. In this era full of opportunities and challenges, only by constantly learning and adapting to changes can we be invincible in the future economic landscape.