September 29, 2020

The conditions for long-term growth of BTC have formed in the market

The conditions for long-term growth of BTC have formed in the market

According to Dan Tapiero, co-founder of DTAP Capital, conditions have formed in the market for a long-term strengthening bitcoin rate.

There are several macroeconomic factorswhich will stimulate an increase in demand for cryptocurrency. The main culprit is the Federal Reserve System, which injects money into the economy, thereby devaluing it.

We are on the verge of economic turmoilthe situation will be similar to the crisis of the late 1980s. The value of American assets will fall by about half, which will cause a massive transfer of capital from government securities to gold and bitcoin.

Tapiero stressed that during the last twofor a half years, we have seen BTC consolidation. After that, most likely, we will see an explosive growth in the value of the largest cryptocurrency. Investors need to be patient.

A similar point of view is shared by manyinvestors. For example, Galaxy Digital CEO Mike Novogratz and Morgan Stanley chief strategist Ruchir Sharma also believe that Bitcoin and gold will continue to hit their highs in the long run.

The conditions for long-term growth of BTC have formed in the market

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