Bitcoin at $19,000 may signal an enduring bullmarket after a steep discount: mikemcglone11. $BTC
The screenshot from a recent Bloomberg report posted with the tweet, says that S&P 500 has dropped around 20 percent this month so far. While the traditional markets are following S&P on the way of the decline, the report points out that Bitcoin is building a base around the $19,000 price mark.
According to the report, a further fall of the S&P 500 price may stop further tightening policy of the Fed Reserve. Hence, the biggest “pump-and-dump” in the US money supply ever seen may prove Bitcoin as a store of value.Besides that, in an earlier tweet today, McGlone reminded the community that Bitcoin’s finite and diminishing supply is a key factor for its price to “continue to rise over time”.
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