According to Forbes, the price of the Bitcoin has been very volatile in the short term. Past the wild ride and after having gone past $10,000 in the middle of February, the price of the Bitcoin dropped lower due to the CoVid-19 crisis. However, the price later recovered.
With the debts of governments going up, it keeps all wondering about what will happen to the price of the Bitcoin next. With fiat printing escalating, and the markets flooding with millions of dollars, some analysts go to the extreme of stating that the price of the BTC will escalate to even millions at some point in time. It sounds like too much, though!
The halving is, however, expected to cause a spike in Bitcoin price. The halving, along with the current sustainability issues of miners influenced by the pandemic, might lead to freshly mined Bitcoin land in the strong hands.
The cash injection is meant to support the US economy, and the Fed believes that their role is now to provide as much relief and stability during the constrained economic activity. Further, it stated that this cash injection would help ensure that the eventual recovery is as strong as possible.
Sydney Ifergan, the crypto expert, tweeted: “There is no denying that the Bitcoin (BTC) is a phenomenal medium for storing value. However, the world needs to unlearn fiat and relearn crypto for any kind of mass adoption. Truly, we have miles to cover ahead.”
Bitcoin (BTC) is very powerful, and we do not want to underestimate the power of this innovation. It can be dangerous to ignore Bitcoin as it is the only answer to the current situation of stimulus packages flooding the markets.
One of the Bitcoin Enthusiast states: “Fiat is an intersection of corruption and money. Bitcoin is the intersection of math and money.”
The magnitude of the Bitcoin pump is going to be huge. There are sure signs of financial collapse, and people are going to question themselves on why they did not invest in Bitcoin. Bitcoin Holders understand the insanity of the Fed buying up junk bonds and central banks getting insane.
The Central Banks though appear insane, are clear about the consequence of what they are doing now. They know they do not have a choice, and they well know how things are going to end. Bitcoin is something that the government cannot print, and therefore investors are trying to protect themselves by printing stuff that central banks and governments cannot print.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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