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Expert: The perfect alignment of favorable factors is pushing Bitcoin (BTC)

It is difficult more and more for enemies of crypto to badmouth it, despite even nervous market. But for how long will we enjoy this jubilation? Antoni Trenchev, co-founder of Nexo crypto-credit platform, is sure that – for a long time. Why?

It is here to stay

A crypto executive notes with irony:

– Bitcoin has been pronounced close to 300 times to be dead, and it has risen from the ashes yet and yet again. So I think the doubters are having a really hard time here continuing their cause.

It is believed that the 2019 soar was prepared by major players such as Fidelity, JPMorgan Chase and, finally, Facebook. But Antoni Trenchev notes that “the perfect balance of several favorable factors also played a role”. First of all – geopolitical turmoil (mainly generated by the weird presidency of Trump – note by Coinstelegram). It created instability and thus turned the financiers to Bitcoin. Although not immediately. According to the expert:

– The bear market of 2018 – we’ve seen even the harshest proponents turning skeptical at some points, and this usually is the inflection point from which assets start rallying again. But I think it is really about institutional support and the implication that it has in terms of mass adoption.

A real anthem to crypto is the expert’s (he is to the right, with CZ, Binance) conclusion that about 70% of the instant credit lines of his company are going in bitcoin:

– Hundreds and hundreds of people joining the space on a daily basis. I think people are really starting to notice and appreciate the fact that Bitcoin is here to stay, and at Nexo, we see this every day.