The US government’s decision to print more money into the system could be a playing card for Bitcoin investors. This idea was a talking point among many analysts who felt such a move could greatly benefit the cryptocurrency market.
Pierre, a cryptocurrency analyst doesn’t believe Bitcoin will go any lower but rather it will skyrocket because of the current state of the US economy and talks of a recession. He tweeted
LTF suggest a bounce here is imminent with H1 and H4 giving signs of exhaustion and both printing TD8/TD9 reds.
No idea yet how far this bounce could be, but ideally it could trigger a retest of Y/O without reclaiming it – giving additionnal short opportunities.
Meltem Demirors tweeted:
wait until @Bitcoin discovers the additional $120T of unfunded and underfunded social security, Medicare, and Medicaid liabilities.
Demirors is the chief strategy officer at the digital investment company CoinShares. She made this assessment based on the US government’s strategy to ease the economy by printing too much money.
The national debt just passed $24 Trillion.
The idea that the government may very well keep printing cash for the use of paying for multiple initiatives could see investors put more trust in cryptocurrencies like Bitcoin and others causing the price to rise dramatically. This idea has caused analysts to conclude this is the right time to buy into Bitcoin and prepare for a huge profit on any investments made.
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