Bitcoin Rises On American Benefits – Opinion

CONTENT

  • Earlier, Americans have already spent their benefits on cryptocurrency

  • Crypto community members see prospects for further growth of bitcoin

  • Investors choose bitcoin to save savings

International consortium of news organizations developing transparency standards.

Thursday started for the digital asset market with positive movement for most coins. For example, bitcoin (BTC) at the moment overcame the level of $ 11 thousand. Many investors drew attention to the fact that the positive movement of the cryptocurrency after its decline in early September is a reason to celebrate.

#btc #Bitcoin back to 11k?
Let’s party pic.twitter.com/Tz6RvMdLer

– per4f (@ perfe41) September 17, 2020

In the meantime, members of the crypto community thought about the reasons for the growth of the coin rate. Changpeng Zhao, CEO of the popular digital asset exchange Binance, drew attention to the fact that Bitcoin could implement a positive movement against the backdrop of the next issuance of stimulating checks to Americans in the amount of $ 1200.

$ 1200 stimulus package done efficiently.

– CZ Binance (@cz_binance) September 17, 2020

The first payments, according to Forbes, many US citizens chose to spend on bitcoins. The explanation for this choice was the attempt by people to preserve assets during the period of destabilization of the financial market amid the coronavirus pandemic. Many Americans also planned to spend the next payments to buy bitcoins. According to Changpeng Zhao, the support of BTC by US citizens who received checks had a positive effect on the state of the digital asset market..

Read also: Old men need gold, young people prefer bitcoin

One of the reasons for the interest in cryptocurrencies during the period of financial instability is the ability to save their savings from inflation against the backdrop of the choice of quantitative easing policy by many central banks. The approach involves printing and artificially injecting new lots of traditional money into the market.

The Capriole Fund analyst Charles Edwards, in turn, drew attention to the risks that large companies expose themselves to by choosing US dollars to store their savings.

“I’m just waiting for big players like Apple to understand the risks of their $ 100 billion in physical dollar balances,” he wrote on his microblog..

Crypto Expert Predicts Bitcoin Will Hit 100k – Robert Kiyosaki & Anthony Pompliano

Samson Moe, director of strategic affairs at Blockstream, agreed with his point of view. In his opinion, bitcoin is the only effective way to preserve savings. Against the background of the policy chosen by the central banks, assets in traditional money, he believes, are “melting”.

It’s only a matter of time until other companies realize their cash positions are just melting away. #Bitcoin is the only safe haven.

– Samson Mow (@Excellion) September 17, 2020

Bitcoin Rises on American Benefits - Opinion

Not without predictions. For example, Morgan Creek Digital co-founder Jason Williams posted on his microblog a controversial, according to his readers, tweet. 

“The USA will become the first country in the world to accept Bitcoin as a national currency”.

The United States will be the first country to adopt #Bitcoin as its national currency.

– Jason A Williams (@GoingParabolic) September 16, 2020

Despite the fact that a large number of members of the crypto community are subscribed to Jason Williams’ account, even they found his message too optimistic.

The CEO of the startup Ajoobz, blogging under the nickname Elja𝕭oom, in turn, gave a forecast of the movement of the bitcoin rate. In his opinion, by 2021 the cryptocurrency will cost $ 100 thousand.

#Bitcoin will reach to $ 100,000 by 2021.
Mark my words

– Elja𝕭oom (@Eljaboom) September 17, 2020

Recall that earlier analysts at Coin Metrics came to the conclusion that bitcoin is a truly decentralized cryptocurrency.

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Bitcoin Rises On American Benefits - Opinion

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Bitcoin Rises on American Benefits - Opinion
Bitcoin Rises on American Benefits - Opinion

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