In these uncertain times there seems to be little reason to be happy. But with global chaos and social detachment on the agenda, you should be more grateful than ever now that you are a Bitcoin Hodler. Why? Here you go:
Bitcoin bypasses the big devaluation
Perhaps one of the strangest things about the whole coronavirus pandemic is that no one seems to be asking where all of this magical government money comes from.
The FT reported on Wednesday:
“Andrew Bailey, the new governor of the Bank of England, said on Wednesday that the UK’s central bank was ready to pump unlimited amounts of money into the economy through its new commercial paper facility to combat the effects of the corona virus – and they did would go further at the government’s request. ”
What will be left if central banks tackle the problem with cash? Mass devaluation of world currencies, followed by widespread inflation and a decline in purchasing power. Bitcoin has a fixed offer. Bitcoin tends to have huge upside potential.
Bitcoin’s halving is just around the corner
OK, so last month we were a bit more bullish about bitcoin halving – the price was over $ 10,000. Halving now seems a bit of a double-edged sword. If prices don’t improve, the smaller Bitcoin miners are likely to be pushed out of the market in the short term, but keep an eye on the price.
Fundstrat’s Thomas Lee believes BTC will end the year at $ 40,000. Max Keizer sees $ 400,000 on the horizon. And do you remember this estimate of the BTC price 12-18 months after the halving?