Bitcoin (BTC) Poised for “Massive Bull Run”, Here’s Why

Bitcoin (BTC) Poised for “Massive Bull Run”, Here’s Why
фото показано с : ethereumworldnews.com

2019-6-27 20:23

Why Bitcoin is Poised to Rally. Hard.

Bitcoin (BTC), save for Thursday’s price action, has been on an absolute tear. Since the seeming bottom in December, which saw the cryptocurrency fall to $3,100, BTC has rallied by over 200% to where it is now, just shy of $11,000. Despite this already decisively bullish price action, some suggest that Bitcoin has further to run, citing macroeconomic factors that only necessitate a decentralized, digital, supply capped, non-sovereign, and permissionless form of money, this, of course, being BTC.

Dan Held, the co-founder of Interchange and a long-time bull of the foremost cryptocurrency, recently broke down a number of reasons why “Bitcoin is perfectly positioned for a massive bull run.” No price targets were given, but with macroeconomic trends in mind, many are sure that BTC will soon enter the six-digit range.

Bitcoin is perfectly positioned for a massive bull run:

– $10T+ negatively yielding debt
– Trade wars
– Halvening in 2020
– Being being known as a "risk-off" trade
– Surging institutional trading volume
– Mainstream markets at ATH
– Rise in socialism

— Dan Hedl (@danheld) June 27, 2019 There is now more than $10 trillion worth of negatively-yielding sovereign debt. In fact, according to some estimates, this figure has reached a jaw-dropping $13 trillion, a figure that is unprecedented in the history of global finance. For those unaware, this means that holders of the bonds of these debts will receive less than they put it if they hold the bond to the maturity date. If you’re at all interested in finance or investment, you know this is absurd. This implies irrational monetary policy on the part of certain central banks. And as Ikigai’s Travis Kling points out, the Bitcoin price has rallied alongside the growth in this figure.

Bitcoin vs global aggregate negative yielding sovereign debt. Real straightforward situation. pic.twitter.com/Obmhnkbrf7

— Travis Kling (@Travis_Kling) June 27, 2019 Trade wars, especially the one currently raging between China and the United States, should catalyze interest for BTC. While it’s still unclear whether or not Chinese investors are pushing Bitcoin higher, many are sure that money from the region is finding its way into the cryptocurrency market en-masse. They fear that if the U.S. pushes harder with tariffs, the Chinese Yuan will massively depreciate, meaning that a safe haven, whether that be diamonds, gold, or Bitcoin, should be found.Over the past few weeks, investors the world over have come to the understanding that the world’s economy isn’t doing so great. Just look at gold, which has rallied harder than it has in the past few years, in a day or two no less. With this search for “hard money”, analysts, even from banks like Deutsche, have (finally) begun to acknowledge that Bitcoin acts somewhat like gold in that it can be used as a store of value.For some reason or another, there has been a rise in socialist-centric politicians. Many believe that if their policies get put in place, the risk of faster inflation skyrockets. With Bitcoin having a hard, transparent supply cap and issuance schedule, such a bout of inflation should give BTC a nice boost. Because as fiat monies devaluate, many believe that Bitcoin will rally.

Of course, there are countless other reasons (everything from mainstream FOMO to the launch of Facebook’s Libra) why the cryptocurrency market as a whole could see growth, but the aforementioned factors should accentuate Bitcoin’s long-term viability.

Photo by SHTTEFAN on Unsplash

The post Bitcoin (BTC) Poised for “Massive Bull Run”, Here’s Why appeared first on Ethereum World News.

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Источник: ethereumworldnews.com

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