The outbreak of the CoVid has had a major impact in the overall financial markets and the cryptocurrency market is not an exception in this process.
The later part of 2020 was an exciting time for Bitcoin (BTC) investors. It was not unusual for BTC investors to be staying up all night checking for the BTC price. Bitcoin advocates like Dan Held feel that BTC is one of the most mispriced assets in the world right now. However, there is an influx of new people desiring it as a store of value. This has indeed increased after the pandemic has shown that there is a need for digital currencies.
The attention towards BTC and digital assets increased when the government sensed a practical difficulty of paying citizens via digital currencies. Fully digitized versions of money is gaining recognition as the need of the hour. The cryptocurrency market is now getting to be more liquid with better infrastructure to support larger volumes of capital moving in to the space.
Commenting, Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) is slowly beginning to establish its history by proving its worth as a store of value and at a point in time where the world is thirsty for an alternative store of value.”
In the current day world, Bitcoin is hailed to be far better than Gold by many. BTC fills in the role of sound money. Bitcoin is the new game in the financial town and it is expected to rock the investment portfolios of those who are looking to diversify their assets.
BTC advocates are placing a lot of trust in the upside potential of the Coin. However, some of them feel that market cap is just a number.
Pomp recently tweeted: “I love when the dinosaur financial advisors come out of hibernation to fire off a boomer tweet because they’re so salty they were wrong when they told their clients not to buy Bitcoin.”
The notorious nature of Bitcoin being highly volatile cannot be taken out of the equation though. This is a great option for investment for those who have a stomach for high volatility, and they will benefit when the price trends are favorable. Not everyone’s game though.
BTC is the dinosaur too. Just that smart investors should understand the power of BTC. However, there is no denying that regulation is around the corner either.
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