- Crypto King Bitcoin (BTC) has been the best performing asset in six of the past eleven years. This is according to data shared by Pantera Capital CEO Dan Moorehead. In all, it was emphasized that a cryptocurrency was the best performing asset in nine of the last eleven years.
Moorehead explained that the current ‘age of unlimited money printing’ is the main reason digital assets outperform traditional ones.
Its exact interpretation can be found below, with data pointing to Bitcoin being the best performing asset in six of the last eleven years.
Even with this, a cryptocurrency has been the best performing currency in nine of the last eleven years.
In the age of unlimited money printing, paper money is doomed to expire.
During the Weekly Closing, Bitcoin’s $ 35K Support Will Be Very Important
Regarding the price, Bitcoin is currently trading at $ 37,500, after a short fall to the $ 35,000 support zone yesterday on January 15th. During the second event, Bitcoin dropped as low as $ 34,376 before fighting to return above the $ 35K support zone mentioned above.
Bitcoin’s troubles are not over yet, as BTC will face a weekly close tomorrow, where the $ 35,000 support area will likely be retested. Failure of this support area could cause Bitcoin to return to the crucial $ 32,000 – $ 30,000 support zone.
Bitcoin in the Bull Market
However, Bitcoin corrections are healthy in the bull market. The constrained fixes allow Bitcoin to gain additional momentum to continue rising. The rise surrounding Bitcoin is best demonstrated by Deribit by adding a strike price of $ 400,000 to BTC options in December 2021. Such a move could mean that there is only demand for such options contracts with some traders expecting BTC to break $ 400,000 this year.
Below you can see a tweet explaining Deribit’s new $ 400k transaction price for Bitcoin options contracts.