“This ‘inflation shield’ will continue to bring to the crypto market growing investment from major institutional investors, bringing with them capital, expertise and reputational pull – and further driving up prices. The currency has been programmed to have no more than 21 million coins in circulation.Īnd this would continue to drive demand from large investors, who for so long ignored Bitcoin as a legitimate asset. “As such, amid some peaks and troughs along the way as markets never move in a straight line with traders taking profit, we can expect to see the price of Bitcoin and other major cryptocurrencies continue their upwards trajectory.”īitcoin has historically done well in times of inflation anxiety because of its finite supply. ![]() “Investors will once again focus on heightening global inflation fears caused by lingering supply-side issues,” he said. But importantly because amongst retail investors it is increasingly regarded as a safe haven asset, similar to gold.” Inflation fears will return, making Bitcoin more valuableĪs he said with share markets, Green reckons the cryptocurrency investors will soon move on from the Omicron threat and return to worrying about other issues. “Why? Partly, because now we have more of a roadmap of how to deal with variants. It will move on from this relatively quickly as it did with the Delta variant in the summer,” said Green. “I think this a knee-jerk reaction from the crypto market. This underscores how mainstream digital assets have now become, as an increasing number of institutional investors have piled into Bitcoin this year.”īut Bitcoin’s value plummeting because of a new health crisis doesn’t make sense, as traditionally, it has been seen as a store of value – like gold. “The crypto markets have mirrored the reaction of other financial markets. Polk will help you sift through the myths, traps, and pitfalls of the cryptocurrency. Now he has a whole new channel that focuses on crypto. He built up some fame as a professional poker player while racking up 3 World Series of Poker bracelets. “The discovery of a new COVID variant has rattled global stock markets as it brings in a new wave of uncertainty, which they hate,” he said. Doug Polk was already a successful YouTube influencer before he even got into crypto. The fact that Bitcoin sank so much in line with share markets on the first news of Omicron tells Green that the cryptocurrency has truly arrived. ![]() “This dip in cryptocurrencies – which are, of course, the inevitable future of money – will be used by savvy investors as a major buying opportunity, topping up their portfolios with the current lower entry points.” Bitcoin is so mainstream now ![]() “Bitcoin is unstoppable, and I fully expect to see prices double over the next 12 months,” said deVere Group chief executive Nigel Green. That sent the cryptocurrency down more than 17% since its all-time high earlier this month.Īs it recovers 4% on Monday morning, one expert reckons now is a ripe time to buy. Bitcoin (CRYPTO: BTC) plunged almost 8% on Saturday morning as news of the new Omicron variant of COVID-19 shocked the world.
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