Will Bitcoin’s market cap reach 2 trillion?
It was a good time for the financial markets, including the cryptocurrency market. Well, the political agreement to implement an economic stimulus program in the United States has pushed the New York Stock Exchange, and with it the prices of bitcoin and gold. According to Changpeng Zhao in our Tweet Today, this economic plan is likely to damage the dollar and increase BTC’s market cap to $ 2 trillion:
A boost to Bitcoin’s market cap
It is a holiday for financial markets around the world. Well, after weeks of almost daily declines in the main equity markets, the United States Congress has approved an economic stimulus plan. Spend $ 2 trillion to avoid a total collapse of the American economy.
For many analysts, however, optimism on the world markets is premature. Well, far from allowing the American economy to continue growing during the coronavirus crisis. Such an increase in the liquidity of the dollar would lead to a massive devaluation of the currency. This in turn affects Bitcoin and cryptocurrencies.
Among those who take this view, one of the main characters is Changpeng Zhao, the CEO of Binance. As soon as the news of the agreement reached in Washington was published, he started a message on his Twitter account. He commented on the possible arrival of Bitcoin’s market cap up to $ 2 trillion. A goal that, according to Zhao, would not be difficult to achieve.
“”If we get used to talking about trillions, a modest $ 2 trillion market cap would bring Bitcoin 1 BTC to $ 100,000. It’s not that hard to imagine now, is it?“”
Since most Bitcoin are not for sale (HODLers), we only have to buy a small part of these 2 tons to reach them.“”
With this tweet, Changpeng Zhao would bet that such a surge in monetary liquidity will hit his local currency. If BTC begins to strengthen against the supposed fall of the dollar, Bitcoin’s market cap won’t hit $ 2 trillion.
Finally, we ask your readers what they think about government measures, especially about the effects they will have on Bitcoin.