Oh Boy, Oh Boy Oh Boy! We at FintekNews love big bold predictions (we make them too, although restrained somewhat) that include
Doomsday type scenarios. Bitcoin explodes, gold rockets, banks failures and spreading crisis. Love it and sort of agree. Good read.
(Bill Taylor/CEO)
Banks are going to get into big trouble later this year which is going to expose a gigantic derivative bust, silver has a good future ahead and Bitcoin price would triple the price of an ounce of gold - which is expected to reach $4,800 - by March next year, according to the latest data sets from Clif High.
Based on this estimate, one Bitcoin could be worth more than $13,000 by then, he says in the interview he recently had with Greg Hunter.
Banks’ troubles
Clif High, who has gradually become a known name for the projection from his Web bots, says his data shows that the derivative that some banks would soon experience would be regional troubles rather than a global bust."
He says in the video:
“It would be a large failure, say, in a northern Italian bank then the derivative associated with that bank ripples over to Deutsche Bank and maybe they are able to contain it a little bit and so everybody breathes a sigh of relief. Then it breaks out in Texas and a bunch of regional banks in Texas shuts down and there is pressure on some fracking whales and they get it contained with a little bit of credit infusion from somewhere else. Then it spreads to California and up to Asia and the next thing you know it is back in Europe. So we’ll be fighting this basically derivative disease as it pops up here and there. That’s going to be the modus operandi for the banks for the rest of this year.”
He hints that a lot of people are going to get caught up in the situation when some of these banks go down because they won’t have access to their cash. Also, some of these banks are not likely to recover from the “nasty situation”..."
Read Full Article at CoinTelegraph