Community Trust ScoreVerified
Bitcoin price is trending in the $55,000 ranges, which is the highest rate since May. Anytime the price of Bitcoin goes down it becomes unattractive. There is a need for direction and forecast about the value of Bitcoin.
Institutional buyers known as whales show a preference to invest in BTC as opposed to other smaller cryptocurrencies. Inflation is a major reason that has driven the price of BTC to its new high mark. Large-scale fiscal stimulus programs from the governments have led to an increase in inflation rates.
Institutional investors are very positive that Bitcoin will work as the hedge against inflation.
The attitude of the US policy makers had a role in the impact of the price of BTC. The emergence of the Lightning Network and the usage of the Lightning Network as a payment solution in El Salvador propelled bitcoin adoption.
To many, Bitcoin is more like a commodity than a currency, which is competing with gold in it’s capability as a store of value.
Michael Saylor expressed: “Only invest what you can’t afford to lose. Institutional investors are using Bitcoin as an inflation hedge and everybody is wondering. What’s the point of Gold?”
Community response: That’s not very confidence inspiring. Did u sell? Micro strategy has more coins than that and plus there is no indication they have sold anything yet. This wallet is constantly buying and selling.
For people who don’t get sarcasm. When Saylor shills BTC it falls. Time to book some profits. Bitcoin is not for selling, ever.
If you not invest in Bitcoin, your paper money will lose its value against BTC. So, you must invest in Bitcoin. No question.
All in. Tired of my energy being stolen by the invisible hand of inflation that continually decreases the purchasing power of fiat.
Every time he tweets this a few thousand people probably panic sell some sats, and then buy them right back once they figure it out. Don’t ask me why I think this.
I’m watching $53k-$60k as the next resistance for Bitcoin If we can break that range with confirmation then the 2nd half of the bull market is starting.
The point of gold is that it’s the most useful metal on the periodic table. There is no inherent use for Bitcoin. Only speculators hoping to sell their BTC to the next fool! Price increase doesn’t make it a store of value.
If being able to send $30 to a woman with no bank account, who is being oppressed in Afghanistan – instantly and for free has no value. Then, it’s because you are privileged to live in the US, have a bank account & good laws. Not because there is no value.
If you stored your money in gold over the last 10 years, you are down about 3% If you stored your money in bitcoin over the last 10 years, you are up 1,000,000%. If that is not a store of value, then what is?
