Lots of noise in space like Bitcoin price Seen a rapid increase in the last 48 hours. The dominance factor of the asset is coming as price is set to retest the critical resistance around it 57 thousand dollars.
Well, another shocking update coming out of the market is that US deflation It may occur within a year. How could it affect the Crypto space, is it a good time to sell cryptocurrencies? We’ve got you covered with some interesting updates.
White House On Wednesday he warns of the possibility of a global financial crisis. if US legislators More delay in uploading Federal debt limit Before the government runs out of money to cover its bills. The default will bring down the price of the US dollar and the cryptocurrency space to fall dramatically.
Sell your bitcoin within the next 6 months!!
Best Crypto Analyzer Michael van de Poppe He told his followers to be prepared for a possible global crisis within the next 12 to 18 months.
The analyst went on to say that the next six to nine months will be critical for the selloff. He suggested users to keep the money for a year. He added that Bitcoin will be more profitable after this downturn.
Inflation is now rampant, so deflation will take a major turn in events as the US currency falls. According to the sources, 80% of US money circulating around the world, while only 20% The US dollar is traded within the USA.
Furthermore, 40% US Dollars Existing in 2020 PRINT!! Therefore, a fall in the price of the US dollar would lead to a huge loss in the cryptocurrency space.
In summary, the massive printing of money spread all over the world would create global financial instability in the long run.
Therefore, the analyst appears to be pointing to a sell-off of Bitcoin and other cryptocurrencies within the next 6-8 months. Because if the US dollar goes down, it is obvious that the trading of the BTC/USD pair will go down.
On the positive side, he added that buying cryptocurrencies once the market recovers will create many millionaires because the price will be at its lowest levels.