Source: dailyhodl.com
A widely followed crypto analyst says that a parabolic advance is on the horizon for Bitcoin (BTC) as the world’s largest economies once again prepare to print money.
In a new strategy session, the host of InvestAnswers tells his 452,000 YouTube subscribers that the king crypto is in the beginning stages of a parabolic move to the upside, partially driven by the poor financial decisions of governments.
Referencing a chart created by crypto analyst Titan of Crypto, the strategist says investors shouldn’t bank on another black swan event to occur to bring prices down again. With the US and China likely on the brink of debasing their currencies, the analyst says BTC setting up for a large move into the six-figure range.
“So many experts are expecting another anomaly to happen. Maybe there’ll be a World War III or some other black swan [event], but you can’t bank on a black swan – Covid-19 was a one in a 100-year event…
You can see here the next step after the third advance is a parabolic advance and we are just just at the beginning of that parabolic advance. 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 is absolutely exciting.
In addition, global liquidity is actually creeping up too, so again a little bit more money is in the system. More money will come – China is now deflationary [so] they’re going to print more money to get out of that mess. The US is [also] printing more money, but it’s in a covert way.”
Bitcoin is trading for $37,181 at time of writing, a fractional decrease during the last 24 hours.
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