The Coronavirus is a stepping stone for the Bitcoin

The increasing spread of the Coronavirus has not spared anyone. It is not only a threat to humanity, but also for the global economy, which is currently in the process of knowing a downturn, like the 2008 crisis. However, the world of crypto-currencies is an opportunity to take advantage of the situation.

The process of money creation will the value of Bitcoin on the rise

While Wall Street gets loss, Ari Paul, the technical director of Block Tower Capital, argues that the Bitcoin will very soon be the path in reverse.
This phenomenon uptrend is the result of the decision of the central bank to increase the money supply in circulation. In particular, the us federal Reserve has opted for these specific measures that are valid only for cases judged to be compelling, such as the sub-prime crisis in 2008.
Some observers have applauded this prompt decision of the Fed. However, the us President, Donald Trump considers to be inadequate, because it considers that it would be more effective to further reduce the Fed funds rate so that the effects on the economy are more significant.
In such cases, the pro-Bitcoin are very optimistic, as predicted by Mike Novogratz, the CEO of Galaxy Digital, a little earlier.
Ari Paul would have said :

“I totally agree with Novogratz to say that the case of bull (editor’s note : Bull : bullish sentiment) the more strong the Bitcoin is what we see in this moment, that is to say, the entire curve of the us Treasury below one percent “.

The positive effects soon begin to appear

Although the prediction of increase to be maintained for the Bitcoin, Paul argues that it does not manifest itself until later, as was the case of the devaluation of the assets in gold during the financial crisis of 2008.
It should be remembered that the gold was the main victim of the subprime crisis in 2008, which shook the experts in thinking that the asset would lose its safe-haven role. Nevertheless, gold has resumed a bullish trend.
Do you think that the Bitcoin will soon be aware of a bullish sentiment ? Respond in the comment section below.
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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah 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 Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.