Bitcoin price chart for the month of March
Why I’m more bullish on Bitcoin now than a week ago…
1. Quantitative easing coming
Expect to see $5-10 Trillion globally in new money being printed to deal with the deflationary pressures of the Coronavirus disaster. That means people will be seeking out appreciation and yield to address this new dynamic. This could be the time Bitcoin finally becomes more correlated to gold and less correlated to discretionary investment spending. There is way more gold to go around than there is Bitcoin. This could lead to an explosion in Bitcoin’s price.
2. Bitcoin halving is less than two months away
The new supply of Bitcoin created every month is about to be cut in half. This is going to be a big shock to the mining community as well as the investment community and hasn’t been priced into Bitcoin at all in my opinion. Given quantitative easing’s effect of pumping out massive amounts of cash and driving demand for deflationary assets there simply won’t be enough Bitcoin to go around. This could lead to an explosion in Bitcoin’s price.
3. More awareness for Bitcoin as a hedge against currency inflation
Currency inflation drives the value of your investments towards zero over the long term. I expect more fiat currencies to fail in the next 2-4 years. The Euro is clearly at risk. This could lead to negative bank rates and super high lending rates and create a huge strain on the banking system. People will be looking for a safe haven for their investment dollars. This could lead to an explosion in Bitcoin’s price.
4. Exciting new opportunities for earning with Bitcoin
People are waking up to the idea that you can earn money with your Bitcoin beyond just price appreciation. Look for more announcements from Abra in this area very soon! This could lead to an explosion in Bitcoin’s price.
Bitcoin price fluctuations will be dramatic in the next few weeks. But the mid term outlook for Bitcoin is better than ever. There are no guarantees in life but I’m convinced that having at least 10% of my assets in Bitcoin is the right play for me.
We want to hear from you. You can reach me online on twitter at @billbarhydt or you can reach the Abra team @AbraGlobal or @abra_Support. Of course you can email us anytime at email@example.com
With peace and love…