The price of Bitcoin is already up more than 30% this year witch is by far better than most stock exchanges and gold. But is there any inventive for a further rise?
“The massive money-printing, or quantitative easing, programs currently being rolled-out by central banks around the globe devalue traditional currencies and provide a boost for other recognized stores of value, such as Bitcoin and gold.”
Nigel Green, the CEO of financial advisory firm deVere Group
https://www.devere-group.com/news/Why-Bitcoin-is-likely-to-soar-in-value-deVere-CEO.aspx
Mr Green also highlights the fact that the pandemic has been driving new demand for digital money. And I strongly agree when he says investors are paying attention to BTC’s potential as legitimate uncorrelated asset in times of uncertainty.
Then add the geopolitical events such as the rising tension between the United States and China, Brexit, and the upcoming US presidential election as well to create a scenario which will give Bitcoin another boost.
More and more of institutional investors is placing their money in crypto assets, according to a new survey from Fidelity. I believe it will come to rise dramatically before the end of the year when more investors look for a safe haven.
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// Rickard
