NBA legend Scottie Pippen has sparked considerable buzz in the cryptocurrency community after sharing insights from a dream encounter with Bitcoin's pseudonymous creator, Satoshi Nakamoto. The surreal dream, which Pippen detailed on social media, found Nakamoto passing along prophetic warnings about Bitcoin’s future and an upcoming altcoin market explosion. This is in line with the most recent Bitcoin halving event on April 20, 2024. Financial gurus such as Robert Kiyosaki are forecasting massive price increases.
Pippen’s first crypto-related venture has gotten the attention of both sports fans and crypto enthusiasts. His newly published commentary reveals a deeply optimistic understanding of altcoins and his expectations for a massive altcoin bull run. This event occurs every four years and coincides with the Bitcoin halving. It’s a pre-programmed event that reduces the reward for mining new blocks, which decreases the pace at which new Bitcoin is introduced into circulation.
Bitcoin Halving and Historical Trends
On April 20, 2024, the Bitcoin network underwent its most recent halving. As a result, the block rewards were halved from 6.25 BTC to 3.125 BTC. This unique, built-in event is intended to help curb inflation by lowering the influx of new Bitcoin into circulation. Halvings have, historically, been followed by substantial price appreciation, catalyzed mainly by booming scarcity combined with booming demand.
Pippen was citing a chart from history showing altcoin surges that started in 2017 and 2021 following prior Bitcoin halvings. He expects the upcoming altcoin rally to be even greater, with some altcoins going as high as 175x in price increase. Historically, altcoins tend to begin rallying about 340 days post Bitcoin halving. It’s been 365 days since the last halving event, so we might be in for an altcoin explosion very soon!
Kiyosaki's Bold Predictions
Kiyosaki has been very vocal about Bitcoin and other precious metals. His remarks are another sign of the increasingly bullish sentiment in the market. Kiyosaki predicts Bitcoin will hit a minimum of $180,000 this year and could even skyrocket up to $200,000. In addition, he expects Bitcoin to explode over $1,000,000 by 2035.
Kiyosaki's forecasts extend beyond Bitcoin. He forecasts gold to exceed $30,000 and silver $3,000/coin by 2035. The U.S. national debt and credit card debt recently reached all-time highs. Yet at the same time, unemployment is increasing.
USA may be heading for a GREATER DEPRESSION - Robert Kiyosaki
Economic Instability and Crypto's Appeal
Kiyosaki’s predictions go hand-in-hand with his fear of where the overall economy is headed. The U.S. national debt and credit card debt are at all time highs. As the global unemployment increases, so is the demand for alternative assets such as Bitcoin and gold in safety.
Bitcoin is attractive to so many people because it isn’t controlled by anyone. Its capped supply makes it a compelling hedge against inflation and economic malaise. With established financial systems becoming increasingly inaccessible, Bitcoin and other crypto-assets are emerging as real alternatives to global citizens.
