![\"Market](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/sven-henrich.jpg\")
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On Monday, Sven Henrich, the founder and the lead market strategist for northmantrader.com discussed bitcoin \u201crallying in the face of this crisis.\u201d The technical analyst and market commentator highlighted four reasons why he believes bitcoin\u2019s value surged \u2014 \u201cFundamental, Sentiment, Technical, [and] Safety trade.\u201d<\/strong>\n<\/p>\n \n \u201cGold and bitcoin are both up today,\u201d Schiff tweeted<\/a>. \u201cBut this move in no way implies a correlation. They\u2019re rising for different reasons. Gold is up as a safe-haven and inflation hedge. Bitcoin is up for the reason ARKK is up. Speculators in risk assets have been conditioned to buy the dips.\u201d<\/p>\n Meanwhile, northmantrader.com<\/a>\u2019s founder and the lead market strategist, Sven Henrich<\/a>, had an entirely different perspective about bitcoin\u2019s rally on Monday. In a Twitter thread<\/a>, Henrich described why he thought bitcoin was \u201crallying in the face of this crisis.\u201d Henrich touched upon four main reasons in the Twitter thread with the first being \u201cFundamental.\u201d<\/p>\n \u201cFundamental: Adoption [and] acceptance continues to expand, i.e Ebay but also institutional. This path will continue in my view. There is no sign of regression, but continued expansion,\u201d Henrich noted. \u201cSentiment: The Ukraine crisis highlights how bitcoin can act as a support mechanism to raise funds when traditional avenues are cut off. Blockchain [and] decentralized money to become more relevant.\u201d<\/p>\n The market strategist continued:\n<\/p>\n Technical: Bitcoin made a higher low versus equities in February showing a positive divergence [and] defense of a key trend. Start of correlation decoupling process? Safety Trade: Sanctioned money may seek bitcoin as a safe haven (unconfirmed). This also invites risk as it gives excuse to accelerate regulation (long term positive\/short term risk).<\/p>\n<\/blockquote>\n \n<\/p>\n \n One person replied<\/a> to Henrich\u2019s thread and asked: \u201cIf people stop putting money into bitcoin does it stay afloat? It\u2019s almost like it requires constant injections of money.\u201d Another individual responded<\/a> to the question and said:\n<\/p>\n You just described our fiat monetary system.<\/p>\n<\/blockquote>\n \nNorthmantrader\u2019s Founder Sven Henrich Describes Why He Thinks \u2018Bitcoin Is Rallying in the Face of Crisis\u2019<\/h2>\n
\nThe price of bitcoin (BTC)<\/a> surged on Monday to a high of $44,256 per unit at 5:35 p.m. (EST). BTC<\/a>\u2019s price hasn\u2019t been this high in USD value in roughly 39 days, since January 20, 2022. Bitcoin\u2019s price rise sparked a number of conversations<\/a> on social media and forums during the course of the day. After the price of the leading crypto jumped, gold bug and economist Peter Schiff shared his two cents about the market action on Monday.<\/p>\n\n
Henrich Says \u2018Bitcoin Is Here to Stay\u2019 \u2014 Some Claim \u2018Bitcoin\u2019s Success Could Be Its Demise\u2019<\/h2>\n
\nHenrich further added that the bottom line is that bitcoin \u201cis here to stay\u201d and the fiat monetary system further bolsters the fact. \u201cThe rationale for [bitcoin\u2019s] existence finding more validation as the existing fiat world requires ever more intervention to stay afloat,\u201d Henrich stressed in his Twitter thread.<\/p>\n\n
\nHowever, some people responding<\/a> to Henrich\u2019s tweets were inclined to believe that \u201cBTC<\/a>\u2019s success will be its demise\u201d and the \u201cdouble-edged sword is starting to bite.\u201d The individual left a link to an article<\/a> that discussed Christine Lagarde, president of the European Central Bank (ECB), calling on global lawmakers to approve regulations in order to stop Russia from evading financial sanctions<\/a>.<\/p>\n