Respite or trend reversal? Bitcoin (BTC) intrigues

After a gambling takeoff, the Corn stopped and begins to crawl down. The community is puzzled. Is it too late to buy? Or can I?

3 steps to growth

Instead of reading the tea leaves, it would be worthwhile to turn to facts and fundamental analysis. Anyone could predict the current growth. Most experts claimed that the Corn would take off in March. Why did this happen earlier? And in general – did it happen? Maybe it will happen?

Experts, observers, and just attentive members of the community agree that there were no special factors for take-off right now. But it worked the sum of the main three reasons why Bitcoin must necessarily grow:

  1. Growing adaptation of cryptocurrency and Bitcoin – as the main currency. The more the coin is applied, the greater the demand. The higher the price.
  2. Central banks of the countries are starting to buy cryptocurrency for hedging risks and removing capital from traditional assets.
  3. Qualitative improvement of the Bitcoin network.

This last statement does not seem to all understandable and correct. But such an opinion was expressed on Bloomberg, in particular, by Spencer Bogart, partner of VC Blockchain Capital. According to him, the coming of institutional players will support Bitcoin. The cryptocurrency platform will become the base for the global digital infrastructure, and will be able to crowd out competitors in the form of traditional payment systems.


Don’t mosh!

Will bitcoin also replace altcoins? Hardly. The February rally confirmed this indirectly. Indeed, with the growth of the Corn – Ether, EOS, and other leading cryptocurrencies grew up too. Contrary to the assumption that the Corn and others are competitors, experts say:

– There are some who believe that altcoins and Bitcoin compete for users and capital. But these products are economic complements, not substitutes. Bitcoin and Ethereum aren’t in competition with each other. They’re in competition with PayPal, Bank of America, stocks, bonds, precious metals, real estate.

In addition, it is impossible not to notice that the institutionalists are already entering dynamically and supporting crypto. Hong Kong analyst Joseph Young recalls:

– Crypto made more progress in institutionalization in 12 months than in previous 9 years: $40M from 2 public pension funds in the U.S.; $237 million invested by institutions through Grayscale; Fidelity and ICE building infrastructure; Major exchanges operating as custodians.

Grayscale Investments founded by the Digital Currency Group in 2013 as a reliable cryptocurrency investing authority.

Fidelity Investments (Fidelity Digital Assets) is one of the largest and most diversified financial service provider in the world.

ICE (Intercontinental Exchange) is a network of stock exchanges and clearing chambers for financial and commodity markets in the USA, Canada and Europe, the world’s largest futures market operator, where futures contracts for all types of assets are traded.

And besides, the number of gateways and other opportunities for converting crypto to fiat and vice versa – is growing constantly.

So – will bitcoin grow? The question is rhetorical.

Attention! We still do not give financial advice!

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