Bitcoin, yes bitcoin, will likely serve as the catalyst to finally collapse the U.S and quite possible the global economy to some extent.
Why?
Simply put a collapse of some sort is long over due, ever since the housing market crash in 2008 and the bank bailouts we have all been running on borrowed time.
The stock market has risen extremely fast and any major losses since then. The problem is that U.S GDP has not risen. What does this mean ? Quite simply it means that people are paying more for stocks even though the gross domestic product (value of goods in the u.s) has not risen. This spells put speculation and market manipulation.
Ever since trading bots and algorithms have been implemented on a widespread level it has caused a very pecuilar effect to occur
What trading bots did to wallstreet
Trading boughts have effectively allowed for instantaneous calculations to take place that make multiple transactions/trades that produce profits of a small percentage over the cost to make the trade. By trading like this over and over the algorithms learn to read the market better and better. The problem is that they are learning to trade against other algorithms that dont care what the stock is worth compared to what the company should be worth.
The trading algorithms begin to buy and sell in small incremental increases. Over time all of the algorithms have learned to trust that no matter what price they buy into a stock for another buyer will be buying in next week to sell slightly higher. This gives a false sense of security. The trading programs are all buying to sell at minimal percentage gains.
Now onto the important part. When this imminent stock market collapse comes people will panic and companies will go bankrupt investors will pull out their money and take the losses. But they will look for new investments. Those investments will come in the form of the investment market that has seen consistently seen meteoric gains (5-10% in a day is unheard of for a stock) this crash will likely come around the same time that bitcoin is at a rather low price ( bottom of a dip) investors will see potential at it being so low and take the chance.
What this means is that people will effectively take a vast amount of money and dump it into crypto currencies.
Wealthy investors typically figure out ways to keep from paying taxes or other fees on investments. withdrawing cryprocurrency into a bank account or from an exchange then to a bank account can cost quite a bit when you look at it from a percentage point of view. Investors will more than likely use the investments to buy/sell directly (first with other investors) as widespread adoption comes the priceof bitcoin will rise with the spike in investor demand. On top of this others will start using/accepting them as payment since the wealthy ( they happen to spend lots of money) are looking to spen money using bitcoin.
With all of this the world will eventually realize that banks and centralized monetary systems are just uneccesary this day and age. The entire financial industry is extremely slow and outrageously expensive due to all the security measures and criminal attacks that plague their field.
In the end banks, stock markets, and fiat currencies all go down for the count.
Thanks for reading !