As the UBS analyst sees it, Bitcoin’s rise is simply a result of excess liquidity and loose monetary policy. In fact, according to UBS (NYSE:UBS), per Barron’s magazine, the idea that Bitcoin could be a store of value in an inflationary climate is also suspect. In other words, with these bearish traders out of the way (i.e., having shorted or sold off Bitcoin at these low prices), it leaves plenty of upside for BTC-USD.