BeInCrypto recently chatted with notable cryptocurrency commentator “The Moon Carl” to hear his thoughts on where the market is headed during these perilous times.
Carl Eric Martin, often known as just ‘The Moon,’ is a prominent YouTuber and cryptocurrency commentator. Making videos every day, he is one of the most outspoken Bitcoin bulls in the industry.
Here at BeInCrypto, we’ve covered The Moon for some time. In October, The Moon said that Bitcoin’s next bull run would likely reach $200-300k. Repeatedly, the Moon has stressed that Bitcoin has reached higher lows every year ever since it first came out in 2009.
However, today’s market crisis will end up testing Bitcoin like never before. The Moon recently spoke to BeInCrypto about what the future of the market may look like.
‘Central Banks Are Printing Like Never Before’
On the topic of the ongoing crisis, The Moon sees two main issues on the horizon: high debt levels and low (sometimes even negative) interest rates set by central banks.
This mountain of debt, The Moon claims, will “inevitably come back down again.” He argues that we are seeing this now; whereas previously he saw COVID-19 as the pin popping this bubble, he now says it is more akin to a bazooka.
All central banks, not just the Federal Reserve, are buying up assets in record amounts. As The Moon points out, these banks are buying corporate debt as well for the first time now. It is effectively a last-ditch effort to save the economy, he argues, because they know full well what will happen if they don’t do this: collapse. The Moon predicts that central banks will soon have no choice but to buy stocks to save financial markets. This will ultimately lead to inflation and, if left unchecked, hyperinflation.
“We are seeing something that has never happened before,” he said, and — regardless of how dangerous the virus is — the fear is palpable. It is bringing a wrecking ball to the global economy and exposing its core. Yet, while this bubble pops, Bitcoin is expected to show extreme volatility in the short-term. However, as The Moon stresses, this should not cause us to waver on its fundamentals.
‘Bitcoin Has Never Been This Oversold’
The current crisis has overshadowed Bitcoin’s expected bullish momentum before its halving event. In fact, as The Moon told us, Bitcoin has never been this oversold before a halving event. According to The Moon, this is a clear buy signal.
Due to the unique variables in play this time around, however, The Moon maintains that we will see the bullish market cycle really kick in a year or more from the halving. According to The Moon, “it does seem like these cycles are getting longer.” Because Bitcoin is maturing as an asset, we have to look at broader time frames. So, according to The Moon, the time to buy Bitcoin is now because the situation is so dire.
Despite the hectic situation globally, however, The Moon still manages to make videos at the same pace he always did. This is because his ultimate passion continues to be educating people about sound monetary policy. Even during times like these, it’s allowed him to amass a dedicated following of Bitcoin believers.
So, when all is said and done, the global situation is tense. The bubble may be popping. Yet, for The Moon, this may finally usher in a world of sound monetary economics; one where saving, rather than debt-financing, is hopefully the operating logic of the future. It’s that kind of vision that keeps The Moon going, as he explained in this exclusive interview with BeInCrypto.