Absent an unexpectedly damaging event, such as a coordinated global effort to squash cryptocurrencies (which the Chinese have attempted, but other major economies have not emulated), or sharply rising interest rates that strangle the money supply, it’s hard to see what could reverse bitcoin’s present course. It appears to be immersed in a virtuous circle, whereby its price increases create new demand, which then further boosts its price, and so forth.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.