Bitcoin is the new diamond

Immanuel John Milton of Bloomberg stated today that comparing Bitcoin with Gold is wrong, we should compare Bitcoin with diamonds. He talked about big diamond broker "De Beers" who managed to change the view of the people towards diamonds, by doing great marketing and advertising around it. Milton expects the same thing to happen for Bitcoin and crypto too.

As markets are expected to recover by the end of the year, according to Milton, he expects the S&P500 to be back at the value of January of this year, by the end of 2022. Together with that he expects the resurgence of Bitcoin and other crypto currencies. As they have become more tied to the stock markets than ever before. He predicts Bitcoin to be back at 28000 USD by the end of 2022. Which is a gain of 33 %.

This is kind of in line with what I am expecting of the markets for the second part of this year. I expect inflation to drop somewhat by the fourth quarter of 2022. This will fuel a reaction of the markets, and will make them rise back up. The crypto market will follow, and in my opinion the expectation by Milton is quite modest. I wouldn't be surprised if we test 40k again, or at least 35k by December.

This all are just predictions, but they will happen, the timing is the hardest part. I could be completely wrong, not about the price action, but about the timing. But, one thing is for sure, the markets will go up again. The big question is when. So, do you want diamonds? Or not?

Sincerely,

Pele23

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