Bitcoin Surviving It's First Financial Crisis- Good News

Bitcoin has been holding up as financial volatility has increased and the Federal Reserve has pumped the financial markets with more than $6 trillion.  This is good news for Bitcoin users and investors, and we will learn much about Bitcoin's true resilience during its baptism by fire during the pandemic economic lockdown.

Bitcoin was born during the last bear market of 2008, and this is its first real test.  It has been touted as an asset "outside the system" and "digital gold", but this is the test that is needed to see the validity of these claims.

Bitcoin dipped below $9,000 and has since recovered above $9,500.  Short-term movements make for buying opportunities, but Bitcoin offers long-term gains that will greatly outpace inflation.

An interesting article in Forbes examined the possibility of a $1 million Bitcoin based on the devaluation of currencies based on the recent printing of trillions of dollars.  Remember that Bitcoin is a deflationary asset with a fixed supply.  Like  gold, there is only so much Bitcoin that will be in existence.

Investors are diversifying into assets outside the poisoned system that is currently being inflated by trillions of debt.  Look to Bitcoin over the long term for gains and stability.  As the world spirals into a bubble economy, look to real value a and stability in Bitcoin.

Sources:

Pixabay Picture.

https://www-forbes-com.cdn.ampproject.org/v/s/www.forbes.com/sites/investor/2020/06/16/bitcoin-to-1000000-might-sound-crazy-but-is-it/amp/?amp_js_v=a3&amp_gsa=1&usqp=mq331AQFKAGwASA%3D#aoh=15923470775329&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.forbes.com%2Fsites%2Finvestor%2F2020%2F06%2F16%2Fbitcoin-to-1000000-might-sound-crazy-but-is-it%2F

https://www.kitco.com/news/2020-06-15/Bitcoin-is-here-to-stay-Crypto-s-structure-more-resilient-than-currencies-equities-Treasuries-and-gold-JPMorgan.html