The Catalysts for Bitcoin Recovery

I maintain a perspective that the usage of cryptocurrency will continue to grow at accelerated rates around the world, particularly led by widespread integration in foreign nations.​ Countries like Nigeria and Kenya, which have historically had much less stable national currencies, have seen massive usage of cryptocurrency in day-to-day life.​ This signals that an appreciation of Bitcoin and other coins could happen if the US dollar experiences increased volatility on account of increased inflation.​ Although the Federal Reserve indicates little concern regarding inflation, some investors feel that Quantitative Easing went too far and that large inflation is imminent, which would prop up the cryptocurrency markets. ​Some sort of government regulation is needed to have crypto fully integrated US dollar inflation during the recovery of COVID-19 will again boost the price later. Canada has approved Crypto ETFs, the US has yet to approve them.

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The Catalysts for Bitcoin Recovery

Jul 6, 2021

bullish

general Analysis

[1 min Read]

  • I maintain a perspective that the usage of cryptocurrency will continue to grow at accelerated rates around the world, particularly led by widespread integration in foreign nations.
  • Countries like Nigeria and Kenya, which have historically had much less stable national currencies, have seen massive usage of cryptocurrency in day-to-day life.
  • This signals that an appreciation of Bitcoin and other coins could happen if the US dollar experiences increased volatility on account of increased inflation.
  • Although the Federal Reserve indicates little concern regarding inflation, some investors feel that Quantitative Easing went too far and that large inflation is imminent, which would prop up the cryptocurrency markets.
  • ​Some sort of government regulation is needed to have crypto fully integrated
  • US dollar inflation during the recovery of COVID-19 will again boost the price later.
  • Canada has approved Crypto ETFs, the US has yet to approve them.
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BTC

bitcoin

19098.19

-104.35
-0.54%

Return

-43.86%
Change % Since Posting
-14920.81
Change Since Posting
34019.00
Price When Posted

Metrics

39289.75
Target Price
7/ 10
Confidence
1-2 Months
Timeframe
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