Investors are closely watching to see if the price trends of the Bitcoin are working away from the regular traditional markets. Bitcoin is holding above the support price of $5,400, and at the time of writing the price was at $6,700.
The market is appearing crazy and Bitcoin is will evolve to be a peaceful alternative.
Steven Mnuchin, Treasury Secretary, The Federal Reserve States that they have an infinite amount of cash. They also state that the ATMS are safe, the banks are safe and that there is enough cash in the financial system. They say that they will do whatever it takes to ensure enough cash in the banking system.
This is one reason for why Bitcoin was created in the first place. When there is lot of money and lot of inflation people will flock in to Bitcoin.
Yet another Twitter Enthusiast tweeted, Den Hedl: “The US is looking at a bailout pack close to $5T. That’s just one country. One of many packages to come. How could you not find Bitcoin attractive right now?”
Sydney Ifergan, the Crypto Expert Tweeted: “Bitcoin (BTC) will touch extreme bullish and bearish trends, but it is here to say, during certain and uncertain times.”
Many, therefore consider that this is the right time to buy the Bitcoin. The overall cryptocurrency market is on its heels. In the process of rescuing the US economy, there might be unlimited flooding of new dollars to the market.
Bitcoin (BTC) is Inevitable
In the current scenario, people are selling all that they have in order to pay for their rent and food. The biggest problem is that they are also selling their safe haven gold. The cryptocurrency world is now zooming out and applying a rational framework
Bitcoin retweeted Pierre Rochard tweet that read: “Mainstream savers don’t care about “lubricating sticky prices” with “debasement”, they only care about number go up. Keynesian ideology is not appealing to most people, it has to be forced on to them by the government. Bitcoin is inevitable.”
Seasoned investors opine that it is very unlikely for the Bitcoin to sell off in the immediate future along with everything else. When the recapitalization happens, BTC will take up a lot of free capital looking for some yield. Thus, Bitcoin will become a deflationary asset in a world of hyperinflation. Typically, people will realize it very late, and they will be forced in to BTC at a very higher price. The BTC price some expect will reflect about how fast the fiat is dying.
Bitcoin holders believe that Bitcoin is unshakable.
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