Are US Stimulus Funds Making Their Way To BTC or is it Bull Season.
Bitcoin has been struggling with getting and staying across the $60,000 mark, but today nearly everything I hold is up, in fact BTC seems to be struggling compared to LINK, BAT and ADA.
US Stimulus checks hit the bank today, and it seems some are buying crypto, but I certainly don't think that alone can pump BTC at this point. Although I am sure it helps with the alts.
This is a blank chart, it is here to represent my mood about crypto in general for the rest of 2021.
Why am I so bullish on crypto?
-
USD Inflation - those who understand the concept of inflation are going to want to find a place to park their liquid assets.
-
Crypto is in a bit of a FAD market right now, after years of being geeky, it is suddenly cool to be in crypto.
-
There are so many new ways to access crypto, when I started it was really hard to figure out how to buy BTC.
-
Corporate and institutional interest in BTC as a store of value/Investment.
Which brings us to the most important factor.
Supply and Demand and the developing supply-side crisis, there is more demand for bitcoin than there is supply. More People and Institutions want to hold Bitcoin.. and it is outgrowing the Supply.
People often try to fake scarcity, but the real power is in creating demand.
What's in your Wallet?
Posted Using LeoFinance Beta
