3 BITCOIN Bull Run Catalysts & 13K BTC Wallets Worth $1 Million

Weiss Crypto Ratings revealed three “big” reasons they’re bullish on BTC. They are as follows:

“QE Infinity” monetary policy: Earlier this year, to combat the economic effects of the pandemic, the Federal Reserve announced extremely easy monetary policies. In a statement or two, the term “unlimited” or “limitless” was used to describe the central bank’s intents. Weiss Crypto Ratings analysts wrote that Bitcoin will benefit from an influx of fiat money into the economy: “To this end, it recently printed $2.9 trillion in new paper money in the space of just 13 weeks. That works out to about $22 million a minute. Historically, investors pour into gold as a safe haven when they lose confidence in paper money. This time, they’re going to pour into Bitcoin as well.”

Institutional money is entering the Bitcoin and crypto markets: Grayscale’s Bitcoin Trust (GBTC) has seen a strong influx of investment over recent weeks. Some reports say that there are more coins going into that single fund than there are coins mined. Also, through other vehicles like futures and crypto funds, it is clear that institutions want Bitcoin and blockchain investments.

The stock to flow model predicts BTC will rally to $70,000: Weiss Crypto Ratings’ own take on the stock to flow model indicates that Bitcoin will hit $70,000 by the middle of 2021.

Over 13,000 Bitcoin addresses hold over $1 million worth of Bitcoin. Japanese holdings of cryptocurrencies such as Bitcoin, XRP, and Ether all surged during the coronavirus pandemic.

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Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice.