Quantitative Easing Will Aid BTC – Not Easy To Establish Cryptocurrency Industry Is HealthyApril 14, 2019
Several cryptocurrency pundits have seen the cryptocurrency market as being independent of the traditional systems.
Delphi Digital, an industry researcher, stated that the strength or lack of strength in the macroeconomy might boost the cryptocurrency market moving forward.
Investors who are looking for significant price appreciation might be attracted to BTC. In order to maximize capital gains, it is wise to throw money in firms which have a strong upside. This will, in turn, help Bitcoin in the forthcoming years.
The research concluded stating, “Given the outlook of slower economic growth and subdued earnings forecasts, the backdrop appears favorable for growth to outperform. If so, Bitcoin may be poised to catch a bid as investors reach for riskier assets with significant price appreciation potential.”
Several other researchers have as well stated about how the macro-economy can boost Bitcoin price in the forthcoming months.
Brendan Bernstein, when talking about the long-term prospects of BTC stated that the U.S. Federal Reserve’s decision concerning quantitative easing would aid BTC.
Bernstein opines that macroeconomic and political factors will give decentralized digital currency with a chance to outperform by attracting attention to democratic socialism. The financial stunt of the retired community and the increasing amount in the US sovereign debt in combination with QE might contribute to perfect storming of Bitcoin.
Thomas Lee, stated, “I think that if Bitcoin matches what the S&P 500s have done this year, cause the S&P’s move this year is 2.5 standard deviation, that implies that Bitcoin would be $14,000 this year.”
If Bitcoin would pump in 185%, it might touch upon its ideal standard deviation, where the price can be anywhere from $10,000 and $20,000.
Recent surveys reveal that young people are more open to cryptocurrencies like Bitcoin and other kinds of decentralized services.
Mati Greenspan when talking about mass adoption stated, “Though I personally don’t have much taste for this content, it seems that a lot of young people do. When we talk about mainstream adoption of cryptocurrencies, this sort of splash can go a very long way.”
Meanwhile, the hard fork of Bitcoin SV has not been doing great. This is evident when the fundamentals are looked in to very closely. The hash rate of Bitcoin has gone up by 8% in the month of April, and the hash rate of Litecoin has touched upon an all-time high.
Despite all, there are others who are of the opinion that considering the 80% decline in the price of Bitcoin it is not easy to establish that the cryptocurrency industry is healthy.