A widely followed crypto analyst says there is parabolic progress on the horizon for Bitcoin (BTC) as the world’s largest economies prepare to print money once again.
In a new strategy session, InvestAnswers hosts tells His 452,000 YouTube subscribers indicate that the crypto king is in the early stages of a parabolic move to the upside, driven in part by the poor financial decisions of governments.
Refer to a graph made by crypto analyst Titan of Crypto, the strategist says that investors should not count on another black swan event that will cause prices to drop again. With the US and China likely on the verge of devaluing their currencies, the analyst says BTC is preparing for a big move into the six-figure range.
“So many experts expect another anomaly to happen. Maybe there will be a Third World War or another black swan [event]but you can’t count on a black swan – Covid-19 was an event that had been happening for 100 years…
You can see here that the next step after the third advancement is a parabolic advancement, and we are only at the beginning of that parabolic advancement. Again, we’ve never had such illiquid supply, we’ve never had so much diminishing supply, we’ve never had so much hardness in Bitcoin and that’s absolutely exciting.
Moreover, global liquidity is actually creeping up as well, so there is a little more money in the system again. More money will come – China is now deflationary [so] they’re going to print more money to get out of that mess. The US does [also] printing more money, but it’s in a secret way.
Bitcoin is trading at $37,181 at the time of writing, down fractionally over the past 24 hours.
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Generated image: Midjourney