Tim Draper: Macroeconomic factors will slow down the halving cycle of $BTC
Macroeconomic factors, such as the decline of the US dollar (USD), will dampen the effects of Bitcoin's (BTC) halving cycle, which has influenced the market since 2009, according to Tim Draper, investor at Draper Associates. Draper stated: "In 10 to 20 years, the dollar will have disappeared."
Draper explained that investors see Bitcoin as a "safe haven" against poor governance, distrust in banking institutions, inflation of fiat currencies, and geopolitical tensions. These factors are driving the global adoption of Bitcoin.
The investor added that halvings will have less impact if Bitcoin continues to behave against the dollar in the same way, but that a macroeconomic factor will be more relevant to its growth. Some, like Seamus Rocca, CEO of Xapo Bank, believe that the four-year cycle is still in effect, while others think that BTC has matured and become a macroeconomic asset.
Bitcoin and strong money alternatives will benefit from the decline of the US dollar
In February, Jeff Park, analyst at Bitwise, predicted that Bitcoin would appreciate due to geopolitical tensions, monetary inflation, and the decline of the dollar. Max Keiser, a Bitcoin maximalist, asserted that stablecoins will be surpassed by gold-backed tokens and BTC.