SP.O.C.: Bitcoin Value and Independence
Single Point of Contact
was not the best idea. Though, a lot of times, the "
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Eye Catching
Barring major crypto events, Bitcoin tends to follow the DOW USD chart. It’s still too early to tell, but there are indications that the crypto industry is becoming more independent in terms of market prices.
Bitcoin is not meant to be an investment like the companies on the DJIA. It’s the answer we need for securing digital assets. If anything, the price of Bitcoin should mirror the confidence we have in digital aspects of the economy.
Supporting Evidence for Public Acceptance of Crypto
There are other indications beyond that of the DOW/Bitcoin connection:
Safety
One of the most influential factors of market conditions is the perceived safety of investments. Bitcoin is proving to add security for both cash and long term investing options. Add to this the success of Ethereum with some other alts, and there's limitless potential.
Core Fundamentals
Bitcoin is the most popular crypto because it is widely considered the most robust. There was some concern that support would wane following the May halving. Initially reports indicate the opposite.
Information about some of the changes occurring in Bitcoin mining (and overall network confidence) can be found in “Bitcoin Network Sees a Massive Mining Pool Shift Following the Halving”.
Stable Markets and Growing Interest
The volatility of crypto often scares off new investments. As the spike in social media interest (attributed to the halving) illustrates, conservative investors are exploring crypto. Traditional markets may be in need of inflationary protection as well as the secure payment network of Bitcoin.
Combine growing interest with the stability of an independent market and the recipe for a boom crypto is in the works.
Bitcoin isn't only adding security for both cash and long term investing options, it is also creating a sense of honesty transaction amongst users irrespective of their distance. It has also proved itself that it really worth investing since it has most features of gold and this is why some people call it "digital gold".
As for the case of etherium, it actually known to be the second second growing cryptocurrency after Bitcoin and this is due to the fact that there are lots of project built on etherium blockchain and this applies to some other alt coins.
The just concluded Bitcoin halving actually seemed to be very unique and I'm glad it really got the attention of most people in the crypto space. The fact is that we can't really expect the halving process to start manifesting itself instantly, it actually takes time for this to happen and this will also yield the worth or value of Bitcoin as time goes on.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕💖💖💕💕❤️💕💖
Thanks for the insightful reply, I am with you in that the Bitcoin halving will have long term ramifications. I think we will see a lot of maturity in the first ever blockchain in the coming year.
I hope so too.. Thanks for the great reply 😊
Friend @machnbirdsparo, great analysis, I would like to see BTC consolidate along with the entire encryption system.
I think this is unstoppable, despite the fact that some are battling Bitcoin's death.
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