Bitcoin prices on an uptrend Venezuela is a prime example of why BTC is needed Participation levels are high, poised to increase in coming days
After Feb 8 rockets, it is clear that momentum has shifted from bearish to bullish. Further padded by supportive fundamentals, it is likely that BTC will break and close above $3,800 ushering in a demand wave that would see prices retest $6,000.
Bitcoin Price Analysis Fundamentals
There is a crisis in Venezuela, and the government’s endless tussle is wrecking ordinary Venezuelans. To quantify how nerve-wracking it has been for Bolivar dominated investments, if you had $1 million worth of Bolivar before the super hyperinflation, that value would be worth $3.4.
That’s how grim the situation is and dark days are expected because of a political standoff. Maduro is clinching to power as the US and allies support the opposition leader. It doesn’t matter. There are no winners. The ones that stand to benefit are those who shifted their wealth to a censorship-resistant, political resistant super currency Bitcoin.
With no point of control, any Venezuelan who moved their stash to BTC before the value wiping inflation has more than quadrupled his holding and still enjoying the