Dan Tapiero, the founder of Gold Bullion International, believes that negative rates on US bonds could be a “mega bullish” signal for bitcoin.
“There are negative deposit rates in the US. Semiannual US Treasury bills now have a negative rate. So you’re the one who has to pay the US government for buying the bond. The rates will be lowered further. This is the confiscation of money and it’s bad, but it’s necessary to stabilize the system. A mega bullish sign for bitcoin,” Tapiero wrote on Twitter.
According to the founder of Gold Bullion International, Americans will now have to keep the money under their mattresses. Especially given the quantitative easing policy pursued by the US Department of the Treasury. On the other hand, it may encourage Americans to invest in non-traditional assets, such as cryptocurrencies.
Yesterday, the rate of the first cryptocurrency showed a strong recovery from last week’s decline. Bitcoin is up 15% and above $6,200. The growth of the first cryptocurrency continued and at the time of publishing, BTC is traded at $6 500.
The other day Chainalysis researchers reported that during the fall of the cryptocurrency market, the inflow of BTC to the exchanges increased 9 times, but shortly, the coin rate will remain stable.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin rose to the resistance level of $7,000. In the future, we predict a technical correction downwards followed by an uptrend. Now, the price of bitcoin is $6,740. The nearest resistance levels are $6,850, $7,100, $7,300, $7,660, $8,000, $8,020, $8,140. The nearest support levels are $6,350, $6,250, $6,000, $5,780, $5,450, $5,000, $4,840, $4,440, $3,900, $3,700.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum grew to the resistance level of $152. Now, it is $144. In the future, we predict a technical correction downwards followed by an uptrend. The nearest resistance levels are $152, $161, $170. The nearest support levels are $143, $135, $127, $120, $115, $110, $99, $88.
Technical analysis of Ripple (XRP):
Over the past day, the price of ripple grew to the resistance level of $0.1750. Now, it is $0.1680. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $0.1750, $0.1850, $0.1980. The nearest support levels are $0,17, $0,16, $0,15, $0,1420, $0,1370, $0,1280, $0,1140, $0,1050.
