Through his Twitter account, Pal referred to the current state of the traditional financial market. After registering historical losses, the world’s main central banks implemented drastic measures. In an attempt to prevent total collapse, the U.S. Federal Reserve and the European Central Bank The negative performance of Bitcoin has not prevented investors like Pal from feeling optimistic. Bullish investors point out that Bitcoin was created precisely to deal with an economic situation like the current one. In the face of inflation and centralization, Bitcoin offers a fixed supply and an immutable monetary policy.
On the other hand, some analysts have pointed out that Bitcoin has started to decouple from the stock market. Over the past few weeks, the cryptocurrency had shown a strong correlation with this market. As uncertainty about the pandemic grew, investors sought to secure their money in cash. Therefore, Bitcoin’s price was reacting negatively with the stock market.
Author : Reynaldo