Federal Reserve and central banks around the world have begun printing cash in an attempt to prevent a major financial crisis caused by COVID-19.
There is talk of injecting trillions of dollars into the economy, and Bitcoin has already seen price increases following the announcements. According to CEO Binance, Changpeng Zhao, Bitcoin could go up to 100,000 in this context:
“As we get used to talking about trillions, a modest market cap of 2 trillion dollars for Bitcoin will put 1 BTC at $ 100,000. It’s not such a hard number to imagine now, is it? “
Zhao explained that most Bitcoin is in the hands of HODLers and not for sale. In this context, a small percentage of the money placed on the market is required to enter Bitcoin to increase the marketcap.
With so many dollars printed, the limited supply of Bitcoin may be in its favor.
The Bitcoin price is currently trading around $ 6,500 after testing the 6,900 threshold today.
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