BTC: Chart looks bullish, but fundamentals haven't improved
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In fact, the economic fundamentals across the world is heading south for the rest of 2020 and likely 2021 and would possibly only improve in 2022 at the soonest.
The idea that a speculative "asset" could post new highs is an uncompelling proposition.
Having said that, the stock market in the US has gone crazy, courtesy of the Fed. Some of the hot money may flow into more speculative markets such as Bitcoin .
Leading voices in finance, such as Ray Dalio, have explained why the stock market could / would rally in a recession. However, the same mechanism is unlikely to work for Bitcoin , which is held by rich people but speculated mostly by the poor.
The idea that a speculative "asset" could post new highs is an uncompelling proposition.
Having said that, the stock market in the US has gone crazy, courtesy of the Fed. Some of the hot money may flow into more speculative markets such as Bitcoin .
Leading voices in finance, such as Ray Dalio, have explained why the stock market could / would rally in a recession. However, the same mechanism is unlikely to work for Bitcoin , which is held by rich people but speculated mostly by the poor.
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