4 Factors Influencing the Price Increase of Bitcoin
The CEO of Abra, a popular crypto wallet, listed the reasons for the medium-term rise in Bitcoin price.
Bill Barhydt, CEO of Abra, listed the reasons why he saw a much more optimistic picture in the leading cryptocurrency Bitcoin than the previous weeks.
Brhydt explained these as follows:
1. Bitcoin price may explode due to money printing.
“In order to cope with the deflationary pressures of the coronavirus disaster, we expect a new currency edition of $ 5-10 trillion worldwide. This could lead to an explosion in Bitcoin’s price. ”
2. Bitcoin Halving
“The new Bitcoin supply is about to halve. This will create a huge shock for investors as well as miners, and I think it has never been reflected in Bitcoin so far. Combined with monetary expansion, there will not be enough Bitcoin for everyone. This could lead to an increase in the price of Bitcoin. ”
3. Search for a safe port
“Money inflation pulls the value of your investments to zero in the long run. I expect more fiat currencies to fail in the next 2-4 years. The euro is clearly at risk. This can lead to negative bank rates and super high loan rates, and create a huge burden on the banking system. People will look for a safe port for dollar investments. This could lead to an increase in the price of Bitcoin. ”
4. Exciting new opportunities to win with Bitcoin
“People are awakening to the idea that they can only make money with Bitcoin beyond the price increase. More announcements in this area will come from Abra! This could lead to an explosion in Bitcoin’s price. ”
Abra’s CEO ended his statement saying, “Bitcoin price fluctuations will be more striking in the next few weeks, but the medium-term outlook for Bitcoin is better than ever. Nothing is guaranteed in life, but I believe it is the right game for me to keep at least 10% of my assets in Bitcoin. ”
Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.