So much noise in the space as Bitcoin price has seen a rapid boost in the last 48 hours. The dominance factor of the asset is in full moon as the price is set for another crucial stress test around $ 57,000.
Well, another shocking update coming out of the market is that US deflation might occur within a year. How could this impact the Crypto space, is it a good time to sell crypto? We’ve got you covered with some cool updates.
White House on Wednesday warns of the potential global financial crisis. Yes American lawmakers further delay the increase in Federal debt limit before the government ran out of money to cover its bills. Default would lead to devaluing US Dollar prices and crypto space plunging back heavily.
Sell your Bitcoin in the next six months !!
Best Crypto Analyst Michael Van De Poppe said his supporters were ready for the potential global crisis to come in the next 12 to 18 months.
The analyst went on to say that the next 6 to 9 months would become crucial for the sell-off. He suggested users hold on to cash for a year. He added that Bitcoin will be more profitable after this deflation.
Inflation is now rampant so deflation is going to take a huge turn of events with US price devaluation. According to the sources, 80% American money is in circulation around the world, when only 20% USD circulates in the United States.
Moreover, 40% of US Dollars in existence were printed in 2020!! Therefore, falling USD prices would lead to a disastrous loss in the crypto space.
Summing up, Massive money printing going around the world would create global financial instability in the long term.
So, the analyst seems to be signaling the sale of Bitcoin and other altcoins in the next 6-8 months. Because if USD falls, trading pair BTC/USD will obviously fall.
On a positive note, he added that buying cryptocurrencies as soon as the market recovers will create many millionaires as the price will be at an all-time low.
