Many people expected the coronavirus crisis to be beneficial to Bitcoin’s value. So far, this momentum hasn’t played out, and Alex Saunders doesn’t expect things to improve either.
The current Bitcoin price momentum has been a bit lackluster.
No Bitcoin Price Improvement in Sight
Despite some positive momentum earlier this week, things look bleak once again.
Nugget News CEO Alex Saunders expects this uneasy momentum to continue for some time.
In his opinion, there is no reason for a cryptocurrency price increase now, or in the near future.
Saunders point at a weak US job report, a weakening Dollar, and general disinterest in investing as potential catalysts.
There also appears to be a lack of new investors who show an interest in cryptocurrency markets.
Given the current coronavirus pandemic, it seems as if a lot of people are choosing for safer options.
In fact, the holding of one’s funds has become all the more important in recent weeks.
As all markets perform very bleak during this coronavirus crisis, Bitcoin isn’t outperforming anything or anyone.
It is also not the safe haven many claim, but that is perhaps a good thing.
Bitcoin is supposed to be a new form of money, and not a bank account or safe-haven asset by any means.