Bitcoin (BTC) Price Sees ‘Global Bullish Setup’. But There Is One 'If'.

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Thu, 03/19/2020 - 12:56
Vladislav Sopov
The ongoing Bitcoin (BTC) price flat definitely looks like the calm before a storm. And under certain conditions, this storm may be bullish, says a digital assets manager
Cover image via stock.adobe.com
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Matthew Kaye, chief operations officer and managing partner of the Blockhead Capital blockchain hedge fund, has specified the conditions that may inject new life into the crypto king price.

Medium-term bullish setup

According to Mr. Kaye, the ongoing setup looks like a perfect basis for a bullish run in a medium term of 1-3 years. Although, it is possible only if the 'narrative holds' and the unprecedented amount of USD liquidity goes directly into crypto.

The situation of high inflation, 'money printing' and very thin inter-bank liquidity may be very fruitful for Bitcoin (BTC) in terms of further gains.  

Additionally, Mr. Kaye highlighted that investors, instead of traders, should return to the Bitcoin (BTC) game. If this occurs, the macro prospects are definitely bullish.

Macro is bullish if people are buying bitcoin BECAUSE its a non-sovereign, hard-capped supply, global, immutable, decentralized, digital store of value. Buying just to trade is not nearly as bullish.

Many more 'ifs'

Mr. Kaye's conclusions have generally been supported by his followers, but some of them suspect there are some more conditions for a bullish reversal. E.g., it has been said that the digital market must uncouple itself with classic markets to ensure crypto price growth.

Related
Bitcoin (BTC) Less Volatile Than S&P 500 Last Few Days: Anthony Pompliano

However, Mr. Kaye is sure that Bitcoin (BTC) markets just need more buyers than sellers. And finally, according to him, there are not many Bitcoin (BTC) holders left who would like to sell.

 

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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