The king of cryptocurrencies, Bitcoin (BTC), has been the best performing asset in six of the last eleven years. This is according to data shared by Pantera Capital CEO Dan Moorehead, who noted that overall, a cryptocurrency has been the best performing asset in nine of the last eleven years. Moorehead went on to explain that today's "unlimited money printing era" is the main reason why digital assets outperform traditional ones.
Your exact comment can be found below along with the data he shared, noting that Bitcoin has been the best performing asset in six of the last eleven years.
“Even with that, a cryptocurrency has been the best performing currency in nine of the last eleven years.
In the age of unlimited money printing, paper money is no good. "
Bitcoin's $ 35k Support Will Be Crucial During Weekly Close
Regarding price, Bitcoin is currently trading at $ 35,800 after briefly falling to the $ 35k support zone yesterday, January 16. During the latest event, Bitcoin dipped to $ 34,376 before struggling to get back above the aforementioned $ 35k support zone.
Bitcoin's troubles are not over yet, as BTC will soon face the weekly close tomorrow in which the $ 35k support area is highly likely to be retested. A failure in this support area could result in Bitcoin falling back to the crucial $ 32k – $ 30k support zone.
Bitcoin is in a bull market
However, Bitcoin corrections are healthy in a bull market. They allow Bitcoin to gain additional momentum to keep moving forward. Deribit better exhibits the optimism surrounding Bitcoin by recently adding the $ 400k strike price on its December 2021 BTC options. Such a move can only mean that there is a demand for such option contracts and some traders expect BTC to outperform. the $ 400k this year.
Below is a tweet from Deribit announcing the new $ 400k strike price for its Bitcoin options contracts.
We’ve added the $ BTC 400K strike in the Dec21 expiry! 🚀
– Deribit (@DeribitExchange) January 14, 2021