The price of Bitcoin (BTC) was struggling to reach $9,000 this May 12, as more public praise erupted amidst the gloomy outlook for the global economy.
BTC halving tweets show that investors remain bullish on the Bitcoin price
BTC price remains after halving
Data from Cointelegraph Markets and CoinMarketCap showed that the BTC/USD closed at almost $9,000 today, after falling briefly the day before.
After completing its third halving, enthusiasm increased during Bitcoin’s next price move, which had lost $1,200 along the way due to the weekend’s event.
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Palihapitiya warns about the „massive deflationary spiral“
Early Tuesday, Virgin Galactic’s president called Bitcoin the most „uncorrelated“ asset for the trust markets, as the dollar faces a „massive deflationary spiral.
Speaking to CNBC’s Squawk Box, Chamath Palihapitiya was unmoved by the superiority of the major Bitcoin Champion – Bitcoin Method – Bitcoin Formula – Bitcoin Compass – Crypto Genius currency.
„When we started believing in the long-term value of Bitcoin, it was like a store of value and that was the insurance we kept under the mattress,“ he said.
CNBC referred to Monday’s interview with investment giant Paul Tudor Jones, who revealed publicly that he now had 1-2% of his total assets in BTC.
The final block mined before the halving contained a reminder of BTC’s origins
„The reason is that we are now in this massive deflationary spiral and they have to figure out how they will protect themselves from it,“ Palihapitiya continued.