Bitcoin: The New Gold Standard?

By KMatt | Blogging Crypto | 4 Dec 2023


The shocks of the economic situation in recent years have been felt in every sector, especially in the cryptocurrency market.

The debt of 33 trillion dollars of the United States, first Covid then the war in Ukraine, Israel, skyrocketing inflation etc... They have certainly caused quite a few worries for people, pushing them to invest in safe haven assets such as gold , but not only that, also Bitcoin.

Gold reaches very high levels of value, exceeding $2,045, marking approximately +14% in the last year, while Bitcoin is one step away from $40,000, reaching approximately +133%.

Ahead of interest rate cuts in 2024, the DXY dollar index posted its second worst month since 2021, a sign of low confidence in traditional fiats.

It is therefore inevitable that retail and investors of all kinds are looking for safe havens or much more advantageous alternatives and it is no coincidence that Bitcoin is attracting more and more eyes.

By nature it is decentralized and has a limited supply and despite market volatility, Bitcoin has proven to be quite resilient, always maintaining a high value.

BlackRock, Fidelity and many others are aware of the value of BTC and their ETF applications, if approved, will allow investing in Bitcoin through traditional finance methods, bringing new investors and a potential inflow of capital.

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KMatt
KMatt

Welcome to my blog <3 I love playing videogames, interested in crypto, support #lgbtqi+ and human rights


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