Bitcoin analyst notes that increased money supply would trigger Bitcoin’s bull run.
Banks become compelled to increase the money supply during economic recessions.
Michael van de Poppe classifies the current Bitcoin market situation as “a perfect storm.”
Bitcoin analyst Michael van de Poppe has predicted a Bitcoin bull run believing an economic recession and the subsequent increase in money supply will drive the surge. Van de Poppe also pointed to Bitcoin’s historical performance during past recessions, noting its correlation with gold as a hedge against inflation and monetary expansion.
According to the analyst, central banks must increase the money supply during economic recessions to combat a negative economy. Van de Poppe pointed to historical examples between 2014 and 2015 when Bitcoin price rallied following a slight economic recession and a subsequent monetary expansion.
Because of Bitcoin’s tendency to expand during economic recessions, Van de Poppe expects upward momentum in the crypto market. He noted the cryptocurrency’s correlation with gold, which many investors consider a haven against monetary expansions and inflation. However, he …
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