The best time to buy Bitcoins is now! – Tyler Winklevoss

At the beginning of 2020, due to the Coronavirus pandemic, there has been a disruption in the economy and finance across the world. The disruption even had affected Bitcoin’s market value across the world and the price of a single BTC token dropped drastically. However, the demand for digital currency in the time of big depression immediately led to the surge in its price, and at the time of writing the value of a single Bitcoin is $9624.62, approx.

When it comes to the first-ever cryptocurrency in the world Bitcoin people tend to use, store, and buy this cryptocurrency as it is in limited supply. Some individuals use Bitcoins daily for making payments and transactions.

Tyler Winklevoss, one of the popular and influential cryptocurrency enthusiasts and CEO of Gemini, a notable cryptocurrency exchange platform said that Bitcoin might aid the world in covering the losses since the Pandemic. Moreover, quantitative easing will directly or indirectly aid in the increase in the prices of Bitcoin.

Several other cryptocurrency industry executives feel, as the fundamental case for Bitcoin loophole keeps on strengthening, it will act as a catalyst for the entire market to advance successfully.

Bitcoin to gearing up for its forthcoming bull run

In the first quarter of 2020, the global economic authorities and U.S. Federal Reserve officials predicted that there will be a troubling decline in the country’s and the world’s economy. According to the Federal Reserve, this year has witnessed the worst economic shock in modern times. On the other hand, the Bank of England has revealed that England has been hit with the worst recession period for more than 400 years.

The statistics suggest that Bitcoin is not being benefited from the worldwide turmoil in the economy. Nevertheless, Tyler Winklevoss has a different story to tell. Winklevoss took it to Twitter and posted that the Federal Reserve is setting the stage for the next bull run of Bitcoin. In addition to the remark, the Tweet also had an attachment, an article from the NY Times titled as “Fed Deliberates How and When to Roll Out More Economic Support.”

The article discusses the imminent ‘considerations’ that the top officials of the central bank are preparing for the next round of passing of the bill. These deliberations will be put forward during the July 28-29 meeting. Public statements and interviews have also pointed out how early the official can put a final establishment to plans. Further, these plans will either be unveiled during the meeting taking place in September or later in the fall of 2020.

The tweet by Tyler Winklevoss referenced that a surge is most likely to take place in Bitcoin that would lead the investors to assets with deficiency.

As far as the Bitcoin bulls are considered, the Federal Reserve seems a little hesitant towards moving ahead with much response. Jerome Powell, Chairman of the Federal Reserve has already declared at the beginning of the year that the policy rate of the Central Bank will not be negative. Meanwhile, commentators said that the central bank has reportedly run out of options after buying numerous corporate bonds.

In recent efforts to stimulate global spending, the European Union has passed a €750 Billion bill alongside trillions of dollars which are pending at the United States’ congress. There are chances that this might lead to inflation as the money will keep flowing into the worldwide momentary system which is already swollen.

Financial Stimulus is the optimum macroeconomic backdrop

By the looks of it, Tyler Winklevoss isn’t the only cryptocurrency pundit to predict the next wave of fiscal stimulus which would make Bitcoin more streamlined than ever. On 18th of July 2020, a tweet from Winklevoss which read “When money printer go brrrr and inflate the stonks market, it’s time to Bitcoin,” suggests Bitcoin is the alternative to fiat currency and stocks in the era of digitization.

Back in May 2020, Paul Tudor Jones, philanthropist, conservationist, and hedge fund manager said he has a special liking to Bitcoin as the central banks are bringing unorthodox and never-seen-before monetary policy into effect. Tudor Jones is regarded as a leader among macro investors in the country.

Additionally, Hayman Capital Management’s Kyle Bass revealed this week that Bitcoin’s price is going to explode significantly in the due course of time.