LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Bitcoin News

George Ball: The Price of Bitcoin Will Explode in Early September

by Nick Marinoff
August 19, 2020
in Bitcoin News, News
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

Bitcoin appears to be turning people left and right. Who were once bitcoin haters are now bitcoin lovers, and George Ball – the former Prudential exec who in a recent interview discussed the potential safety of using and holding the world’s number one cryptocurrency by market cap – has explained in a follow-up discussion that the asset’s price is about to explode after Labor Day of this year.

George Ball: Bitcoin Will Surge Further in September

Bitcoin has been on a serious roll over the past few weeks. The currency has gone from the mid-$9,000 range to the low $12,000 range since July, marking a near $3,000 gain in a relatively short period. George Ball says he’s never been a huge advocate for bitcoin or blockchain technology, but the current times and conditions they present regarding the world’s finances are making him change his mind.

He explains:

I’ve never said this before, but I’ve always been a blockchain, cryptocurrency and bitcoin opponent. However, if you look right now, the government can’t stimulate the markets forever, so the very wealthy investor or the trader probably turns to bitcoin or something like it as a staple.

The idea is that further stimulus funding as a means of invigorating the economy during the coronavirus pandemic is going to have significant results, not all of them pleasant. Many have turned to bitcoin out of fear that the U.S. dollar and other fiat currencies will be subjected to inflation. They now see bitcoin as a strong financial tool that can potentially hedge their wealth against all harsh economic conditions.

Ball continued to state:

Traders and investors are going to worry about what happens when you can’t kick the can down the road in terms of stimulus or subsidizing people any longer. The liquidity floods will end sooner or later. The approach of the end of that road is going to be a lot closer by the fourth quarter than it is now, and therefore, both traders and investors should and probably will realign their portfolios substantially.

To an extent, we’ve already witnessed this behavior given that companies like MicroStrategy Inc. are beginning to invest hundreds of millions of dollars into bitcoin and other cryptocurrencies. In addition, Grayscale recently announced more than $1 billion in bitcoin investments during its second quarter for this year, constituting more than $300 million in BTC investments per month for three months.

Labor Day Will Bring Crypto to New Heights

He believes after Labor Day people are really going change up their investment portfolios and will begin buying all the bitcoin they can find. He explained:

The time to reposition portfolios is before the fuse is lit, or when the fuse has been lit but hasn’t exploded yet… The notion isn’t to hide or seek a tax refuge, but to have something that can’t be undermined by the government.

Related Posts

Cardano (ADA) Price
Altcoin News

Cardano (ADA) Price Analysis: Bulls Aim More Upsides Above $0.27

ADA price is correcting gains from the $0.270 zone against the US Dollar. The price is now trading above...

by Aayush Jindal
October 3, 2023
Ethereum Price
Altcoin News

Ethereum Price Analysis: ETH Revisits Key Uptrend Support

Ethereum price started a downside correction from the $1,750 resistance against the US Dollar. ETH price is now trading...

by Aayush Jindal
October 3, 2023
Stellar Lumen Price
Altcoin News

Stellar Lumen (XLM) Price Could Recover and Revisit $0.15

Stellar lumen price is attempting a fresh increase from the $0.1108 zone against the US Dollar. XLM price is...

by Aayush Jindal
October 2, 2023
Ripple Price
Altcoin News

Ripple Price Analysis: Rally Could Gather Pace Above $0.535

Ripple price is gaining pace above the $0.512 support against the US dollar. The price is now trading above...

by Aayush Jindal
October 2, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • Tether Uplifts Crypto World with 750M USDT Swap from Tron to Ethereum

  • 1xBit Rockets into the Future: Welcoming Algorand and Arbitrum as Novel Deposit Methods!

  • Ibiza NXT 2023 – Heading toward a purpose-driven Web3 innovation journey

  • Alaya: The Pioneer of Artificial Intelligence Data

  • Zeebu Secures $25 Million in Presale Funding for World’s First On-chain Invoice Settlement...

About us:

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin…

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.
Go to mobile version