Two Macro Factors Could Halt Bitcoin’s Dream Run to $20,000

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Bitcoin price should be heading towards $20,000, an all-time high, according to many leading analysts, but certain macro factors could halt its dreamy bull run ahead. This year, the BTC/USD exchange rate has surged to a yearly top above $12,000. The pair’s uptrend has appeared on increasing bids for safe-haven assets as the COVID pandemic shows no signs of subsiding. Analysts point to trillions of dollars worth of stimulus aid needed to aid the US economy through the epidemic. They fear it would leave behind higher inflation. “The Federal Reserve’s attempts to control inflation are likely to end in a disaster, which will benefit BTC,” said Anthony Pompliano, co-founder of Morgan Creek Digital. “We agree. Once the FED loses control over inflation, there’s no going back.” Atop that, the US central bank is printing money at near-zero interest rates. A loosening monetary policy such as this further makes Bitcoin more…

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