A widely followed veteran trader known in the crypto arena for calling the Bitcoin Great Crash in January 2018 unveils the main fundamental driver that will fuel the Bitcoin bull market.
Peter Brandt tells his 435,100 Twitter followers he thinks Bitcoin, along with other assets, will Carry on to thrive in bullish territory in the face of the depreciating US dollar.
“The devaluation of the purchasing power of the US dollar DX_F has only just begun. This is why Bitcoin BTC, real estate, US equities and commodities will continue to advance when expressed in terms of USD fiat terms. “
Brandt’s latest analysis comes after the US Senate passed President Biden’s Covid stimulus package to the tune of $ 1.9 trillion. Bitcoin Bull Anthony Pompliano said the relief package will have a huge impact on the value of the US dollar and Bitcoin.
“To think that the dollar is stable in terms of purchasing power is completely nonsense. 40% of all dollars in circulation will be created within 12 months of that $ 1.9 trillion… Purchasing power is drastically declining. Compare dollars to stocks, real estate, goods, services, Bitcoin, etc. The US Senate has just agreed to reiterate to the world why Bitcoin is important and valuable.
In the short term, Brandt believe that Bitcoin is on its way to a new all-time high.
“Two charts to watch carefully in the days to come. ESF Extended bottom in S & Ps ‘V’. New heights to come.
BTC inverted head and shoulders pattern. New heights to come. “
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