Why Current Events Indicate Bitcoin To Be Bullish
cryptolove last edited by Reward
The co-founder of Morgan Creek digital and well-known bitcoin advocate, Anthony Pompliano has recently said that it is hard to not be bullish on bitcoin. This comes despite the ongoing chaos throughout the world brought on through the pandemic of COVID-19 and the demonstrations of the black lives matter movement. In fact, Pompliano said that due to the ongoing tension in regards to Fiat currency, bitcoin is looking extremely good.
When it comes to the future of the United States dollar, there are many questions being raised. This is primarily coming due to the indiscriminate printing of the currency by the federal reserve. This year, the federal reserve printed trillions of dollars for numerous reasons with the main one being the pandemic of COVID-19. This would help stimulate both businesses and individual systems in order to survive the economic effects brought on due to the virus.
When the federal reserve was showing how eager it was to print the dollar indefinitely, there were many financial experts who expected major inflation to come as a result. Because of this, many investors throughout the US were looking for an alternative reserve currency and many people are encouraging bitcoin to be that alternative. Many institutions all over the world have been running to the world of crypto recently this year and not just because of the pandemic.
As more interest and demand grows for bitcoin, the bullish sentiments are spiking and an incredible positive performance is expected despite the current price performance trading sideways.