Your favorite crypto news blog

Though Riskier Than Gold, Bitcoin Is Still Strikingly Bullish

Bitcoin 2020/03/20 11:06 by Nick James
The Next Bitcoin Bull Run To $16,000 Could Be Ignited By Fed’s Repo Interventions

A few days ago, in light of the coronavirus pandemic that has been crippling world economies, Bitcoin took a nose-dive and plunged from a high of $10,500 all the way down to below $5k before beginning an upward move that has seen it top the $6k mark. However, that has not stopped market pundits from throwing around wild speculation about the top coin.

Despite some pessimistic views, a greater majority of the crypto community remains bullish. Perhaps, the upcoming Bitcoin halving expected in May has played a huge part in fostering these hopeful sentiments. 

Wrecked Financial Systems

For the many Bitcoin fans around, their ultimate love for the pioneer crypto hasn’t gone unnoticed. According to the CEO and founder of Global Macro Investor Raoul Pal who happens to have some goo love for Bitcoin, the crypto is still bullish despite the fact that it currently looks to be in a really compromising situation.

According to Pal, people will find a way to get Bitcoin out of the gutter because they’ve lost trust in the entire financial system. However, there are those who believe in Bitcoin’s strength as an alternative means of payment.

In fact, there have been reports that many affluent people have opted to invest in Bitcoin as a means of moving their money away from a hurting fiat economy.

This scenario was witnessed in China especially during the US-China trade war. In better words, the notion of the loss of trust in Bitcoin may have been misinformed.

Riskier But Better

Going forth, Raoul Pal noted that, compared to those who invest in Gold, people who invest in Bitcoin face a rather riskier market setting than Gold.

However, the Bitcoin market is way more active and has greater expectancies than Gold. In essence, Bitcoin may be a riskier investment choice, but it still remains by far a more prospective option.

0 Like(s)

You should also read...

Altcoins 25/11/19 14:49 by Nick James
Ripple’s XRP plunges to 2-year low as intending long-term investors set sights On $0.20
Back in April, the crypto winter ended and many cryptos saw a positive price increase. The surge was mainly driven by Bitcoin, and as a market leader, the top coin has always affected the larger mark...
Read More
Bitcoin 03/12/19 10:27 by Brenda Ngari
Why Are Bitcoin Holders Bullish About The Long Haul?
It’s another chilly day on the crypto market as pressure continues to mount. Bitcoin is currently floundering below $7,400 as the bears threaten to take over. In December 2018, the crypto winter se...
Read More
Bitcoin 04/12/19 22:00 by Cole Petersen
Bitcoin: Extreme Fear Amongst Investors May Signal That a Trend Shift is Imminent
Bitcoin (BTC) has been firmly caught within the throes of immense volatility over the past several days and weeks, with its recent bout of sideways trading ultimately resulting in a massive movement t...
Read More
Bitcoin 08/12/19 18:57 by Brenda Ngari
Bitcoin On-Chain Momentum Grows Bullish As Analyst Sees $8.5K Imminent
Besides a few dead cat bounces, bitcoin price action has generally been boring in the past couple of weeks. Since touching $10k in late-October, the top crypto has slumped by 25% and the fact that th...
Read More
Bitcoin 16/12/19 20:30 by Yashu Gola
This Cryptocurrency Could Boom Following Bitcoin’s Next Drop
Bitcoin has plunged by approximately 50 percent from its 2019 peak. And the cryptocurrency is hinting to continue trending downwards before the year’s close. The negative sentiment in its marke...
Read More