{"id":420918,"date":"2020-04-16T14:00:29","date_gmt":"2020-04-16T14:00:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=420918"},"modified":"2024-06-11T13:47:33","modified_gmt":"2024-06-11T13:47:33","slug":"this-one-financial-trend-will-make-bitcoin-succeed-billionaire","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/this-one-financial-trend-will-make-bitcoin-succeed-billionaire\/","title":{"rendered":"This One Financial Trend Will Make Bitcoin Succeed: Billionaire"},"content":{"rendered":"

While Bitcoin has embarked on a steep recovery since the $3,700 lows seen in March, some have still been questioning the value of cryptocurrency. Case in point: a hedge fund manager named Mark Dow recently shared that he thinks the cryptocurrency is on the “edge of a cliff,” adding:<\/p>\n

\u201cI’ve been saying\u2026that Bitcoin on the chart is facing massive overhead resistance. Based on this chart, this rn is a textbook opportunity to short,\u201d he said while pointing to the below image.<\/p><\/blockquote>\n

\"Bitcoin<\/p>\n

But, according to a billionaire investor, the leading cryptocurrency is likely to perform extremely well in the coming weeks and months due to this financial trend.<\/p>\n

Related Reading: Could Goldman Sachs\u2019 Cheery S&P 500 Projections Boost Bitcoin Higher?<\/a><\/h6>\n

Bitcoin Could Boom Due to Federal Reserve Action<\/h2>\n

Recently, Mark Cuban \u2014 the billionaire owner of the NBA’s Dallas Mavericks, a tech investor, and a star of the reality TV show “Shark Tank” \u2014 sat down<\/a> with prominent Bitcoin bull Anthony Pompliano to talk about global markets and what he would do as president.<\/p>\n

Cuban said to Pompliano that Bitcoin is likely to benefit from the ongoing trend of governments and central banks printing money to combat the economic downturn we’re seeing at the moment:<\/p>\n

“It’s Bitcoin’s potential benefit if everything goes into the shitter because we’re printing so much money, and there’s global implications, Bitcoin has something to deal with and something to say.”<\/p><\/blockquote>\n

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Indeed, in the past few weeks alone, the following has transpired:<\/p>\n