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Bitmex Research: ‘Bitcoin Price May Shine in the Volatile Inflationary Aftermath’

In this crazy environment of financial calamity, people are uncertain where cryptocurrencies like BTC will stand. A blog post published on March 17 by Bitmex Research predicts high inflation from all of these events. Just like many crypto supporters, Bitmex researchers think that BTC will shine during the inflationary aftermath. “In such an economic environment, with high inflationary expectations, gold looks set to shine,” Bitmex wrote. “But what about Bitcoin? Bitcoin has crashed by almost 53% (peak to trough) in the 2020 Coronavirus crash, as investors raced to the U.S. Dollar. In many ways this was inevitable. Where the Bitcoin price may shine is in the volatile inflationary aftermath of the response to the crash.”

The price of BTC on March 18, 2020, at 10:30 a.m. EST.

At press time, BTC is hovering just above the $5K region but the asset’s value seems to be dragging downwards and flirting with sub-$5K. Even with prices so low, people believe the possibility of bank runs and significant cash liquidity issues will drive more people toward cryptocurrencies. “If you think bitcoin isn’t a safe haven asset, just wait until the bank runs begin,” BTC supporter ‘Bitcoin Bacon’ tweeted on Tuesday. The day prior another individual shared a picture of his stacks of $100 bills on Twitter and said: “Advice…[I] just cleaned out one of my accounts to get liquid…bank runs will be here by next week.”