Bitcoin had seven days a pretty hard time. While he started last week, trading in the 7,000-$-Range, exaggerated reports on the Chinese interest in crypto-currencies, as well as other good news from government circles, the market into a frenzy.
On Saturday, the Bitcoin price exploded and took a shot at the $10,000 mark, where he broke all the barriers, before settling, finally, on his current level of 9,200$.
The investors have recovered in the meantime, and the “Crypto Fear and Greed Index” (the world’s most trusted source for the measurement of investor-sentiment) shows currently a Bitcoin trust level of 53 per cent – much higher than the 20 percent from last week. But The market is not free of investors with a more pessimistic perspective. The naysayers and doubters drums still criticism, while the optimists are out to prove them wrong.
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Early on Wednesday, Kraken-Director Dan Held (@danheld) said in a Tweet, why Bitcoin is perfectly prepared for growth. Hero calls for a number of reasons why Bitcoin investors HODLn the asset and should not sell. His Argument is based on the insane printing of money by Central banks around the world, a rising global debt and structural risks, living the traditional financial systems held.
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21. October reported the crypto-currency and financial pundit Dennis Parker, that the US Central Bank had put in the framework of its quantitative easing strategy of $ 210 billion into the economy.
For your Information: This alone is more than Bitcoins current market capitalization of 166 billion dollars. Parker added that the Fed’s balance sheet has risen considerably – 3.77 trillion dollars to 3.97 trillion dollars.
More than the market cap of #Bitcoin, what is printed in just a couple of weeks, @Federal reserve ? #stackingsats pic.twitter.com/4v9zzsLCRG— Dennis Parker⚡iPhone app(Jan/3?) (@Xentagz) October 21, 2019
The increased money printing has led to Calls to reduce the over-dependence on the paper currency, especially as many of the insiders of the financial industry warn of an impending global financial crisis.
Ballooning global debt
The increase in global debt is a clear and present danger. In April 2019, the “Institute of International Finance, said” that the global debt is at 243 trillion dollars. This was made possible by a broken and irresponsible money system, as the Printing of paper money, the loans allow, surprisingly, has not been still stopped. In spite of everything.
Unfortunately, it seems that regulatory authorities and political decision-makers are receptive to sound financial advice. Fiat money will continue to be printed, and the institutions must take certain risks, because they know exactly that they can be saved, if it goes wrong.
And this is exactly why Bitcoin provides a solution. Be a fixed value, and its relative scarcity means that access cannot be granted to him continuously – and, above all, that no single Institution can control who gets it and who doesn’t.
Bitcoin could have made last week its Performance for the year, however, the hope is that it surpasses the end of the year still remains. Those who are considering to sell your investment, we recommend Hedl, sit back and HODLn. At the time of writing Bitcoin is trading at 9.238 $ and lost on day 2 percent compared to the yesterday’s high of 9.453 $.