Bitcoin (BTC) has been on overdrive as it surpassed the psychological barrier of 58k and hit $58,156 on March 11.
Even though the leading cryptocurrency has retracted to $56,721 at the time of writing, it has recorded green bullish candlesticks for seven consecutive trading days.
Dan Tapiero, the co-founder of fintech and digital asset firm 10T Holdings, trusts that the remarkable increase in US household liquidity to the tune of $2.67 trillion could trigger further upward momentum for Bitcoin. He explained:
“Colossal increase in US household liquidity in 2020. $16.5 trillion total now sitting in bank accounts/money market funds at 0% yield! Exit tsunami from 0% cash not yet started means Bitcoin will run a lot further and yields in the digital world to drive the Stablecoin boom.”
Tapiero trusts that with a boosted purchasing power, more households will be in a position to enter the Bitcoin network, and this will push the price upwards. This, coupled with the passage of…