- Terrence Howard believes Bitcoin is based on fiat and can be wiped out easily.
- He revealed in a podcast with with Patrick Bet-David that “Bitcoin is going to die.”
- Bitcoin surged 8.71% this week despite negative predictions by some analysts.
Famous US actor Terrence Howard believes “Bitcoin is going to die.” According to him, the pioneer cryptocurrency is based on fiat and can be wiped out with the push of a button.
Howard made the statement during a podcast interview with Patrick Bet-David, where he shared his perspective on Iran, China, BRICS, and the future of the US dollar. The renowned Hollywood actor also discussed global power shifts, precious metals, Bitcoin skepticism, and why he believes the world is entering a new era in geopolitics and the economy.
Howard’s Outlook for the US Policies
Focusing on his skepticism toward Bitcoin, Howard highlighted the cryptocurrency’s massive pullback from its record price as one reason he does not believe in its future. Meanwhile, he told Bet-David that he is not involved with Bitcoin and has no cryptocurrency investments.
In the meantime, Howard highlighted the difficulties facing the US dollar following President Donald Trump’s policies toward America’s historical economic partners. He particularly mentioned China’s role in supporting nations facing US tax embargoes, citing it as a significant issue that would affect the dollar’s strength.
Howard recommends a different approach for the US, suggesting that the Donald Trump administration reverse from using firm economic strategies to mending fences and rebuilding its friendship with other nations, thereby avoiding the isolation that the current strategy is creating for the US in the global economy.
Related Article: Bitcoin Could Drop 56% in U.S. Midterm Year Election Years: Binance Report
Bitcoin Ignores Doomsday Predictions
In the meantime, Bitcoin has staged a steady comeback this week, ignoring negative predictions from Howard and other analysts suggesting it would continue to decline. The cryptocurrency bounced off the $65,623 support last Sunday and has since rallied 8.71%, trading at $71,410 at the time of writing, according to TradingView’s data.
The latest surge has pushed Bitcoin above the crucial $70,000 resistance, reintroducing bullish sentiment around the cryptocurrency. The move has also created an opportunity for further rallies, with Bitcoin’s next target set at $74,075, a local high it established on March 4 after an impressive surge.
Related Article: Iran Warns Oil Could Hit $200: What This Means for Bitcoin and XRP Price
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