Bitcoin's Meteoric Rise: Expert Insights and Investor Caution
TL;DR Summary
Veteran trader Peter Brandt believes that Bitcoin's bull market is just getting started, comparing the current monthly candle to the one in late 2020, indicating a potential "starting" candle. He attributes the surge in Bitcoin and other risk assets to investors' belief that the US government's massive debt accumulation is destroying the dollar. Brandt sees owning stocks as a short US dollar play and views the current market movements as reflective of inflation and the destruction of fiat currencies. At the time of writing, Bitcoin is trading at $61,890, while the US national debt sits at a record $34.47 trillion.
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- Bitcoin metric repeats bull move that saw up to 1,900% BTC price gains Cointelegraph
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