Cryptocurrencies

Bitcoin / USD Camps Above $ 10,000 – Cryptocurrencies

BTC / USD continues to float above the pivotal $ 10,000 threshold. The impending US presidential election and Donald Trump’s contamination with Covid appear to freeze markets in anticipation. While waiting for the great outcome of November, the fundamentals remain auspicious for Bitcoin (BTC).


A constantly increasing number of addresses

The number of Bitcoin addresses that actually have satoshis, or even thousands of Bitcoins, continues to increase. The exponential trajectory of 2017 has of course ceased, but we observe that cryptocurrency is far from going out of fashion with now 32 million of addresses.

Even if this is not correct, we could extrapolate these figures by suggesting that around 30 million people now trust Bitcoin. What makes us a almost 300% growth over the past 4 years.

Related to the world’s population, if you have even a few thousand satochis, you are part of the 0.4%. In relation to the population of advanced countries (OECD), you are part of the 2.5%.

Bitcoin continues to draw crowds at a rapid pace and there is no better prediction tool long-term value of Bitcoin.

NASDAQ does not dive

NASDAQ for a year
NASDAQ / Source CNBC

Despite a downward ramble after Donald Trump tested positive, the markets eventually rallied. This information is extremely important because it suggests that Wall Street will be more cheerful if the current tenant of the White House wins only if Biden is elected.

That being said, the riskiest scenario for Bitcoin would be for neither candidate to concede defeat. There would then be chances that the stock market would rock severely and take Bitcoin in its fall. In any case, this is what happened during the March stock market crash.

Why is Bitcoin falling along with the stock market when it is supposed to be the last one standing in the event of a collapse? Because central banks still have ammunition to keep stock prices levitating.

But it does not say that Bitcoin sinks in the crash ” structural “. For example, in the event of a faster than expected drop in oil production, it which underlies all growth. No oil, no chocolate.

Trillions can be printed when energy is not an issue. But without cheap entropy, it is inflation that central banks will print … #Bitcoin

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

Cashier, Brrr…

The US Congress is on the verge of releasing a few trillions more. 2,000 billion are expected over the next few months if US MPs can come to an agreement.

US debt has already officially reached 138% of GDP …

US debt as a percentage of GDP

US public debt as% of GDP:
1980: 31%
1985: 40%
1990: 52%
1995: 65%
2000: 58%
2005: 61%
2010: 87%
2015: 101%
Today: 138%

While waiting for the government to get the green light to worsen the budget deficit, the Fed continues to print dumpsters of money. It even recently changed its inflation target to allow the price increase to exceed the old limit of 2%. The objective being to reduce the debt burden with this inflation (with the purchasing power of Americans).

Christine Lagarde also mentioned last week the idea of ​​accepting a price increase of more than 2%. The ECB is never slow to follow in the footsteps of the FED …

Worse, it is rumored that the ECB, which has already increased its QE by 1350 billion – to supposedly ward off the Covid crisis (where is the money for the hospitals? …), go give a layer of 650 billion before Christmas.

In short, money is flowing, and it is precisely so that we can protect ourselves against this theft in broad daylight that Bitcoin was created …

What’s new on Twitter?

Let’s finish this little tour with the popularity of the Hashtag #Bitcoin. The latter has obviously been very popular since the start of the year. Cash printing obliges …

The graph below shows that business is picking up. And while the FED and the ECB seem parties to launch their own ” CBDC », It is to be expected cryptocurrency will soon see a strong resurgence of interest.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

We remain of the view that Bitcoin is riding extremely strong fundamentals and that any decline is still a buying opportunity. Whatever the time horizon. And it is not Bitcoin’s performance this year that will make us say the opposite:

performance btc vs gold vs SP500
Performance of BTC, Gold and S & P500 (US Stock Exchange) since January 1, 2020
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