My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???
There will be no effect at all.
First, because that person isn't Elon Musk or any other big names in financial industry.
Second, he's just a bank representative and banks was one of the early Bitcoin haters.
Third, Bitcoin has become more and more trusted each and every year passed.
Fourth, Bitcoin might be far from it's peak.
Fifth, as long as the last piece of Bitcoin is mined, the price would always climb and that's very evident from the last 10 years.
Nevertheless, that statement coming from a bank rep means nothing at all.