Nuhan01

Cryptocurrency is an internet-based medium of exchange which uses cryptographic functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability.

What’s going on here is that altcoins trade predominantly against BTC (i.e. these are crypto-to-crypto exchanges), and BTC trades predominantly against the dollar. So if bitcoin rises in value, in order to maintain the same USD value, altcoins need to drop in terms of BTC. Traders talk of altcoins being ‘pegged’ to bitcoin, in the sense that a move for bitcoin will necessarily entail a move for altcoins. If more altcoins traded directly against the dollar rather than BTC, it might be different, but for now, BTC remains the major on-ramp for altcoins.

Even as plans are afoot to launch a digital rupee, India proposes to ban cryptocurrencies altogether, and a law is reportedly in the works that would make holding cryptocurrencies a crime that would put you in jail. RBI has already banned cryptocurrencies. This is myopic. India needs to be open to the possibility of using cryptocurrencies for international payments bypassing the dollar.Cryptocurrencies have a bad name and that is probably well-earned. But all currencies that move around using the blockchain technology are not of the same kind. A subgroup is called stablecoins. Unlike bitcoins, which can be produced independently of any central bank, whose value is unstable and whose total numbers would hit a predetermined ceiling, stablecoins are linked to fiat currency, managed by banks and other reliable entities

I think 2050 is too long for bitcoin to see that price. Most influencers investors predicted 2030 and I sort of agreed even knowing fully well that bitcoin and any other cryptocurrency is unpredictable. Disregarding this his long thesis, If this guy is saying this with so mu much confident then probably has an insider information cause of all this whale investors can be manipulating bitcoin price and we are unaware.