Bitcoin Poised to Rally Due to Structural Deflation Trends
Bitcoin is poised to continue its ascent in the coming months and years due to deflationary trends and Europe, Dan Tapiero of DTAP Capital, 10T Holdings, and Gold Bullion International recently explained.
His thesis behind this assertion was that this will cause European Union real interest rates to tick higher, driving the value of the Euro higher relative to the U.S. dollar. This should drive Bitcoin and gold higher as they are seen as hedges against declines in the relative value of the U.S. dollar.
Far From the Only Bullish Macro Trend
This is far from the only macro trend that Tapiero has touched on that could drive investment in Bitcoin higher.
Commenting on monetary policy trends and how that will affect hedges like Bitcoin and gold, Tapiero commented earlier this year:
Tapiero released an image earlier this year that indicated that since the start of the pandemic, global central banks and governments have injected $20 trillion worth of stimulus. This stimulus, coupled with further efforts in the coming months, are likely to devalue fiat currencies against hedges.
Photo by Soroush Karimi on Unsplash Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com "Structural Deflation" In Europe to Boost Bitcoin Growth: Macro Investor
Originally from Bitcoinist.com https://ift.tt/36uKSok
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