Home Bitcoin News Bitcoin (BTC) Might Likely Perform Better Due To the Economic Turmoil

Bitcoin (BTC) Might Likely Perform Better Due To the Economic Turmoil

bitcoin economic turnoil

Bitcoin was considered to be a wild speculative asset.  The attitude trending is that Bitcoin is the digital standard for money like gold being considered the physical standard of money.  More so, BTC is not, in reality, going against the whole world, but it is going against those who are controlling the world.  It is positively expected for this token to evolve into a monetary revolution.

The price of the Bitcoin made a shocking bounce back after falling to $4,000 in the past week to rising to $6,000. Indeed, the value of the entire cryptocurrency market rose. 

The reason why the price has bounced back is not apparent.  However, one common reason is considered to be due to the massive sell-off that happened in the past week. The token has been going through a consolidation phase.

Technical indicators continue to confirm that Bitcoin is in a deeply oversold territory.  There are suggestions from economists that Bitcoin might likely perform better due to the economic turmoil.

Sydney Ifergan, the crypto expert, tweeted:  “Bitcoin is made for situations like we are going through now.  Uncertain times.  A lot of people are picking Bitcoin now. Traditional markets are slowly closing down. The cryptocurrency market is active.”

Bitcoin (BTC) Continuing to Invest

The bullish signals for Bitcoin in the current time period is promising.    It is very evident that the Bitcoin is decoupling from the traditional markets.  It is not moving in sync with the traditional market.  This is indeed a positive sign.  The current pandemic is uncontrollable, unpredictable, and it is taking toll of the market from nowhere.

There is a lot of confusion, and people from all walks of life are stuck somewhere in terms of activity and commerce.  Investors have developed a peculiar attitude, if you live and everything becomes normal, you still need the money, and they are continuing to invest! Some of them are making use of the opportunity to go onboard into the crypto market, because people are looking for a place for their money to go.

The drag down of the market that happened was due to professional investors and institutional investors.  When the current panic goes away, the whales are going to come back to dominate the market.  Yet another concern doing the rounds is on whether the retail holders will keep the markets on their shoulders.

Probably, even the retail investors know that when all the panic is over, they need some value left-back with them as the bills are still going to mount. Buying and selling will never end.  Probably, the highs, lows, deep lows, shallow lows, and all those transitory movements will be here.

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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