So today I have a little opportunity off work to attend a webinar, concerning bitcoin being a dark horse during recession.
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The anchor who is a reputable and popular crypto trader Nicholas Merten is in the position that there is bitcoin trading that’s been ignored by he’s fellow analyst, crypto enthusiast.
In the video session which was posted on YouTube informed us about the bitcoin market indices been a long time bullish as against the stock market. we progressed further by stating that Bitcoin will possibly be bullish than the United States equities even when they engage in quantitative tightening. Which toltaly explains the conventional mind set of the digital currency been a risky asset.
The crypto analyst sited an example using the chart gotten from trading from bitcoin against the Nasdaq composite. In he’s words in which I quote;
“Take a look at the chart here. Since back here in December of 2020, the ratio has continuously made healthy [higher lows] each and every time. To put this into perspective, from the previous low here back in November – December to the new low, there’s a 48% increase in the ratio. Bitcoin outpaced equities by 48%.”
From the chart the analyst highlighted that bitcoin been a dark horse during economic recession is definitely possible.
“Even as equities are in an absolute panic mode, Bitcoin’s price is holding up quite nicely. We are making higher lows here in price and slightly higher highs here over the short term since the start of the year. That is really interesting. That is something that cannot be ignored.”
There were so many questions which was asked and he had response for all them all. My take home from the session was digital currency are finances for the new age, and no matter how we abolish his with sanctions it’s always more of giving it another layer to stand firm or even creating more awareness for it.
Also don’t forget in participating in the writing contest, let’s do our own part in growing the pHBD-USDC liquidity.
