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Stanley Druckenmiller points to the chances of a “cryptocurrency renaissance”

by Vaibhav
October 2, 2022
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PlanB: Bitcoin will no doubt reach $ 100,000- $ 288,000 by December 2021
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Billionaire Stanley Druckenmiller, a former associate of George Soros’s Quantum fund, predicted a resurgence of digital assets amid the collapse of the fiat-based economy. He stated this at a conference CNBC.

The expert expects a “hard landing” of the economy in 2023 against the backdrop of aggressive monetary tightening Fed.

In his opinion, the policy of quantitative easing and low rates led to bubbles in the financial markets. Now these factors have not only been stopped, but reversed. The Fed has begun cutting $9 trillion of its balance sheet and has already managed to raise the key rate five times to 3-3.25%, expecting its peak at 4.6%.

“You don’t even have to talk about black swans to be worried. […] The current risk reward doesn’t make much sense. […] It is difficult for me to own something in the face of tightening monetary policy,” he explained.

If confidence in the actions of central banks is lost, cryptocurrencies “will play a big role in the revival,” Druckenmiller predicted.

See also  Brad Garlinghouse criticized Dogecoin for "inflationary factors"

The expert expects the Fed to “finish the work that he likes.”

“I just hope they stick to their guns because in the 70s it was terrible. They must kill the dragon [инфляцию]. […] Obviously, there is pain to be felt, he said.

Recall that in November, Stanley Druckenmiller noted that not only cryptocurrencies can be called a bubble.

Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.

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Billionaire Stanley Druckenmiller, a former associate of George Soros’s Quantum fund, predicted a resurgence of digital assets amid the collapse of the fiat-based economy. He stated this at a conference CNBC.

The expert expects a “hard landing” of the economy in 2023 against the backdrop of aggressive monetary tightening Fed.

In his opinion, the policy of quantitative easing and low rates led to bubbles in the financial markets. Now these factors have not only been stopped, but reversed. The Fed has begun cutting $9 trillion of its balance sheet and has already managed to raise the key rate five times to 3-3.25%, expecting its peak at 4.6%.

“You don’t even have to talk about black swans to be worried. […] The current risk reward doesn’t make much sense. […] It is difficult for me to own something in the face of tightening monetary policy,” he explained.

If confidence in the actions of central banks is lost, cryptocurrencies “will play a big role in the revival,” Druckenmiller predicted.

The expert expects the Fed to “finish the work that he likes.”

“I just hope they stick to their guns because in the 70s it was terrible. They must kill the dragon [инфляцию]. […] Obviously, there is pain to be felt, he said.

Recall that in November, Stanley Druckenmiller noted that not only cryptocurrencies can be called a bubble.

Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.

Found a mistake in the text? Select it and press CTRL+ENTER

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