Cryptocurrencies

Is the Bitcoin bull run (BTC) the mother of all bubbles? – Cryptocurrencies

bitcoin speculative bubble

Champagne bubbles to celebrate a Bitcoin (BTC) at 100,000 USD: for detractors of Bitcoin, it is a bubble that feeds on the inflation of fiats. BTC would therefore not support a return to normalcy in the economy through mass vaccination.

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When you see bubbles everywhere!

A senior analyst from the Bank of America believes that the bull run of Bitcoin is the mother of “all bubbles”.

Michael hartnett claims that this bubble eclipses previous ones, including the dot-com bubble of the 2000s.

The strategic manager of Bank of America reportedly indicated in his weekly report Flow show that violent inflationary movements explode the price of Bitcoin and fuel the equity market.

His advice to the markets is very simple: “sell the vaccine”. He explains that the combination of high prices, the greed of some investors, desperate policymakers and the rise of the China make a toxic cocktail that could explode in 2021.

Bitcoin had been called a “bubble” on several occasions by other analysts such as the economist Nouriel Roubini where the co-founder of Convoy Investments, Howard hang.

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We vaccinate against another dark day

Supporters of Bitcoin however think the opposite. The co-founder of Castle Island Ventures, Nic carter, had explained to Bloomberg, in November 2020, that the bull run of 2017 was due to the fact that Bitcoin was then a way for retail investors to invest in ICOs and discover altcoins.

The SEC halted the proliferation of questionable ICOs, the current market benefits from the presence of long-term institutional investors and solid infrastructure.

In March 2020, Bitcoin crashed alongside financial markets as the pandemic escalated.

To avoid a Black Thursday bis, governments are trying to vaccinate as many people as possible in a relatively short period of time.

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Bankers are for the moment locked in their bubble, tirelessly repeating the same credo to reassure themselves of the value of fiats and especially the dollar. How high does the BTC have to go to explode the convictions of its fervent detractors? The hopes of the greenback would therefore rest today on Pfizer and his cronies. As if simple injections would be enough to repair all the damage caused by the disastrous monetary policy carried out by governments for decades.

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