Bitcoin is Back!
For the people who have thought that 2020 might have been the last year, their predictions have been slammed down by the Bitcoins Mad bull run in November. During this run, the price evaluation of Bitcoin exceeded $18,000 for the first after the successful rally in 2017.
Seeing how Bitcoin and other Cryptocurrencies Have performed this year even amid the pandemic chaos has certainly filled the people with hope. Though Bitcoin is repeating the same thing repeated in 2017, experts believe that both scenarios are completely different.
According to the experts, the 2017 rally was in an environment where people hardly knew about Bitcoin and Cryptocurrencies. The market was also not favorable for Bitcoiin as there were only limited methods to regulate the Cryptocurrency and Bitcoin.
What’s The Difference This Time Around?
Most of the traders and investors believe that the Crypto industry has matured over the last three years. Today we can see a broader regulation network than it was in 2017. According to the experts, the main difference between the 2017 rally and the 2020 rally is that the market was regulated with speculation alone back then. But today, the market is driven by billionaires, enterprises, corporations, and silicon valley industries.
For instance, Wall Street incumbent Fidelity set up a new facility for its client to encourage them to invest in Bitcoin and Cryptocurrencies. While on the other hand, PayPal launched a new feature that allows its users to buy, sell, and golf Crypto assets. The Crypto industry has also been joined by world-renowned billionaires like Paul Tudor Jones and Stanley Druckenmiller.
Then there is the pandemic, which has helped the Cryptocurrencies by creating the most favorable environment for them to grow. People have started comparing Bitcoin as a safe-haven alongside gold. This has created a market where investors have flocked towards the Crypto trademark to fight the financial turbulence.
Will Bitcoin Die A Natural Death?
Well, there is nothing written with certainty in the Crypto trading world. Bitcoin itself is a decentralized currency without any central institutional asset backing up. The only thing that backs up Bitcoin is the belief of the people who are investing in Bitcoin. That means, as long as people believe in Bitcoin, it will remain in the market.
However, this might act as a double edge sword. That means when people stop believing in Bitcoin, the whole existence of Bitcoin will be meaningless. Hence, to answer “Will Bitcoin Die A Natural Death?”, you have to comprehend the current market very well. You need to have an idea of what people are thinking before making a Crypto investment.
As of now, we can see a healthy market, where people believe in a future based on Cryptocurrencies in the financial mainstream. Hence, for now, we can say Bitcoin is not going to die anytime soon.
What Are Experts Saying?
There are plenty of predictions made by experts. Some believe that Bitcoin will become one of the best short term investment assets, while something as an alternative to gold. But according to passing entrepreneurs and Crypto traders, the price of Bitcoin will reach a lifetime high.
According to Greenspan, there is a high possibility for Bitcoin to reach its lifetime high price evaluation. He said these words after seeing the performance of the Bitcoin in November 2020.
Pascal Gauthier, CEO of a hardware wallet, predicted that this rally might run longer than the last one. He also added that Bitcoin has matured and has been recognized, making it one of the top digital assets that might be here for a longer period.
The Fate Of Bitcoin
Bitcoin has certainly shown the world that it has the potential to become an alternative to mainstream finances. The only way Bitcoin investment and transactions are manipulated are the number of users making transactions in the market. Hence, the more users in the Crypto trade, the more will be the price evaluation.
If you think that bitcoin’s price is prone to inflation, then let us add that there are only 21 million BTC in the market. Hence, forget about inflation.
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