The flagship cryptocurrency has grown a bit over the past few hours to $5,489, as per CoinMarketCap. However, some leading figures in crypto still believe that Bitcoin needs to decouple from the traditional financial market first.
Still, the founder of Global Macro Investor believes this is not the main issue and remains ultra-bullish.
‘I cannot express how bullish I am on Bitcoin’
Raoul Pal, the founder of Global Macro Investor, has taken to Twitter to share his bullish take on the main cryptocurrency.
The world is running the risk of losing the whole financial system right now, he said. He then added that, despite the fact that it will be restored, people are losing trust in a big way.
Bitcoin has a much bigger upside than gold, insists Pal, and also, BTC investing bears a lot more risks.
‘Bitcoin is non-correlated’
Between those who reckon that Bitcoin is correlated with traditional financial assets and those who do not, Blockstream CSO, Samson Mow, holds the latter position.
In a recent tweet, he stated that Bitcoin falling along with the stock market due to the coronavirus does not at all mean that BTC is a correlated asset.
Bitcoin will emerge from the ashes, he said, and will skyrocket, as it usually does.
‘Banks are doing Bitcoin a favour’
Crypto asset manager Marius Landman has tweeted that banks are basically pushing people into entering Bitcoin by draconian regulatory measures regarding their own cash on accounts.
If you cannot provide a valid reason for why you wish to withdraw a moderately large sum, you will be denied. In such circumstances, he tweets, Bitcoin becomes a much more attractive option.
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