My opinion on the area BTC will trade within. If the area is broken by more than a candlestick, then it's uncharted waters. However, I believe we have entered a relatively stable era of Bitcoin.
It can be broken by heavy inflation of the USD. That would mean people would be ready to spend their savings, which is probably not the wisest idea from personal perspective considering the pandemic and terrible financial situation most households are in. Though I'm quite certain we'll see the hyperinflation once the storm fades, but most likely, it doesn't happen any time soon.
Short (a month from now) term: Short
Long term (a year from now): Ups and downs
Longer term: Too many variables
It can be broken by heavy inflation of the USD. That would mean people would be ready to spend their savings, which is probably not the wisest idea from personal perspective considering the pandemic and terrible financial situation most households are in. Though I'm quite certain we'll see the hyperinflation once the storm fades, but most likely, it doesn't happen any time soon.
Short (a month from now) term: Short
Long term (a year from now): Ups and downs
Longer term: Too many variables
- DISCLAIMER: It's just my bet, I have my reasons. I make it public to apply as an analyst one day. If you want to know more, ask me in chat. If you liked it, great. If you didn't, great. Have a nice day either way and I hope you're getting where you're going to.
- QUESTION: Could anybody lead me to updated data on the avg household expenditures? Thanks :)