The 2008 global financial crisis has seen the creation of Bitcoin while the current economic crisis caused due to the unprecedented pandemic is making the Bitcoin more important and stronger than other alternatives.
The corona virus stimulus measures taken by the US Federal Reserve and other Central Banks are indirectly inflating the economy and the system. Bitcoin trading has come handy for many of the investors who are combating this inflation.
The geopolitical tension between US and Iran and the corona virus impact being a threat to the global trade did not stop the graph of the Bitcoin trading from growing higher adding a 30% since the beginning of the year.
According to an analysis the upper band limit of the GTI Vera Band Indicator is seen below the Bitcoin price.
And as the price of the Bitcoin is presumed to be equivalent or even higher that many other assets such as Gold the U.S congressman Tom Emmer states that he expects that Bitcoin would get stronger as the world combats and emerges from the crisis that the pandemic has cause.
The chief executive of the financial advisory deVere Group Nigel Green states that traders can expect the price of the Bitcoin to reach higher and continue to rise until the covid 19 peaks. He said that the ongoing upward trajectory of the price of Bitcoin correlates to the spread of the coronavirus.
Green also added that the greater the impact of the pandemic on the traditional financial markets the higher the price of Bitcoin. Others have also opined that Bitcoin has lot to gain as the market confidence falls.
In one of the interviews the U.S. Representative Tom Emmer told Anthony Pompliano a Bitcoin and Crypto Investor that “ As we come out of the crisis, Bitcoin isn’t going away” He also added that Bitcoin and cryptocurrency are going to become more and more important. The interview could be watched at..