Bitcoin could easily double in the face of fear of inflation next year
Bitcoin could easily double in the face of fear of inflation next year
- The analyst believes that Bitcoin will leave the fear of the spread of Omicron, since investors focus on larger inflation problems.
- Therefore, large investors will continue to put money as inflation protection in BTC and other crypto-assets.
After a large bloodbath on Black Friday Last week, Bitcoin and the entire cryptom market recovered. At the time of editing, Bitcoin (BTC) increases by 6.19 percent at a price of $ 57,415 with a market capitalization of $ 1.084 trillion. It looks as if the recent recovery of the BTC Prize comes from a latest support trend line.
what !!! #bitcoin just impacted by a crazy trendlinia retest! 🐂 pic.twitter.com/z1xxiu9aut
- Lark Davis (@thecryptolark) 29. November 2021
The quick spread of the new Covid 19 variant-Omicron-had shaken the market and at the same time brought the world market into play. Discovered for the first time in South Africa, the new variant spreads quickly in different parts of Europe.
Read more: New Covid 19 variant shakes the markets, Bitcoin loses $ 55,000 because old coins are bleeding
Some market analysts believe that this could be the right time to buy Bitcoin. Nigel Green commented on the latest recovery. href = "https://www.fool.com.au/2021/29/unstoppable-bitcoin-will-in-next-12-months-says-expert/">
Bitcoin cannot be stopped and I assume that prices will double in the next 12 months. This decline in cryptocurrencies - which of course is the inevitable future of money - is used by experienced investors as a large purchase opportunity and their portfolios with the currently lower entry points. As I said, the news about the spread of the Covid 19 variant of Omicron shakes the global markets and Bitcoin followed her. Green says that this is a clear sign of the acceptance of Bitcoin in the mainstream. He added: The discovery of a new covid variant has shaken the global stock markets because it brings a new wave of uncertainty that they hate. The cryptoma markets have reflected the reaction of other financial markets. This underlines how digital assets have now developed into a mainstream, since more and more institutional investors have become Bitcoin this year. Bitcoin is regarded as a value preservation means and replacement for gold. Therefore, it makes no sense that the BTC price collapses together with the stock market. But historically, the crypto market was initially followed by the stock markets during the crash in March 2020. "I think the [IS] reaction of the cryptoma market will go on relatively quickly as with the delta variant in summer.
Green added that the concerns about the spread of Omicron will only be short -term. He believes that private investors will soon focus on other increasing inflation concerns. Therefore, he expects crypto to develop well next year. Investors will again focus on reinforcing the global fear of inflation caused by persistent problems on the offer side. Therefore, in the midst of some heights and depths, since the markets never move straight and dealers take profits with them, expect the price of Bitcoin and other large cryptocurrencies to continue their upward trend. Bitcoin served as a good inflation protection due to its limited offer. Green believes that greater fear of inflation will boost Bitcoin demand from major investors. This gives more liquidity on the Bitcoin market. "This 'inflation protection' will continue to bring growing investments from large institutional investors who bring capital, expertise and reputation - and continue the prices," added Green. bitcoin has become a mainstream
Bitcoin is acted as an inflation tag
Source: Crypto-news-flash.com
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