While traditional economies are getting weaker, the intrinsic value of Bitcoin is getting better. Despite the macroeconomic trends being weak, their intrinsic value is better. A healthy and trending market for Bitcoin can become dramatic in terms of prices over time amid low volatility periods. Despite all weakness, BTC is here to stay and reign.
The only thing that is preventing investors from flocking into BTC is the inability to derive the right strategy for price prediction. For now, investors looks at macroeconomic fundamentals and other market catalysts to arrive at the next price direction.
It is becoming increasingly difficult to imagine a world without Bitcoin. There is a lot of confusion and many investors are clueless about how to proceed with managing Bitcoin. However, it is important to understand that Bitcoin did not enter the market randomly. It is a product of several years of research and development in the digital currency industry.
Bitcoin was created as the creator believed that bad monetary policy might lead the world economy to mess. Bitcoin makes use of sound financial principles to establish its value and use. Thus, the amount of money in the market will exceed in these situations. Inflation will destroy local economy, thus the entire savings of the people in the inflated economy gets erased.
Sydney Ifergan, the crypto expert opined: “Investors are considering to diversify their portfolio with Bitcoin (BTC) a lot than ever. “
Reportedly, Bitcoin has a 30-day historic volatility, it has been falling fast and it is in the 20’s. Reportedly, in the past it has touched 20% in volume for nearly seven times. Also, the prices exploded higher for nearly 60 times and the volume hit 80% in a few months.
Very recently, Michael J. Saylor of Micro Strategy pushed for adopting Bitcoin as its primary reserve asset. BTC is gaining recognition as a proper hedge.
Bitcoin (BTC) Trending in Ranges
Bitcoin Network has so far mined more than 18 million coins. The Bitcoin distribution consists of those tokens held with whales, unused coins, lost tokens, and those that have been held in custody as Wrapped BTC in different solutions.
Bitcoin Price has been trending in the $10,200 through $11,000 range. There is no direction indicated for Bitcoin. A lot of corrections have been happening in the market. Since the price of Bitcoin has been stabilizing, the price is not indicative of weakness. A potential bullish move is on the cards.
In just a matter of time, BTC is expected to replace Gold. Looks like an exaggeration though.
Credit: Source link
