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A wealthy Bitcoin investor says that traders hoping for a resurgence of interest in the previous generation of altcoins will likely be disappointed.
Trader pseudonym Joe007 He says New and “brighter” altcoins appear every day, competing fiercely for the same amount of money. He believes that the older altcoins will eventually be forgotten and left behind.
the merchant says PayPal’s plan to back Bitcoin and a number of altcoins is over the top, because the company will not allow investors to move their cryptocurrencies to private wallets.
“It may not be a hamburger, except for the news that they will allow users to pay in crypto, turning the profits into fiat money for the merchants.
OGs may recall longstanding bullish hopes for ‘business adoption’ that turned into increased BTC sales by such merchants. “
When it comes to the trajectory of Bitcoin, the trader says that he would be completely bullish if the macroeconomy were in better shape.
He predicts A major economic crisis is approaching, which could delay Bitcoin’s next big bull run.
“I think a major macroeconomic crisis is more likely to develop before a parabolic rally occurs in BTC. This is pretty much the only reason I’m not fully engaged. Other than that, I guess BTC is ready. “
Joe007 He says the crisis will occur because governments mistakenly believe that they can print their way out of the economic shock. He believes that the consequences “should catch up with us very soon.”
Disclaimer: Opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Featured Image: Shutterstock / Tithi Luadthong
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