In these uncertain times caused by the coronavirus, there seems to be little to be cheerful. But since global chaos and social distance occupy the top of the agenda, you should be thankful that you are now more than ever, Bitcoin hods. Here are five reasons.
1. Bitcoin Prevents Large Devaluation
Perhaps one of the most curious things about the entire coronavirus pandemic is that no one asks where this magic government-oriented money comes from.
FT writes on Wednesday:
British Central Bank President Andrew Bailey said on Wednesday that the British central bank wants to pump an unlimited amount of money into the economy through the new commercial paper facility to help fight the effects of the coronavirus and will go further if requested by the government.
As the central banks struggle to find a solution to the problem with cash, what will be left? Following the devaluation of global currencies, widespread inflation and purchasing power will decrease. Bitcoin has a fixed source. It will never lose its value and will gain value over time.
2. Bitcoin Halfway Short
Okay, so we might have expected more rises about Bitcoin Halving, where the price is over $ 10,000. At present, the halfway seems to be a double-edged sword. If prices don't improve, we will see a share of smaller Bitcoin miners in the short term, but keep your eyes here as a reward.
Thomas Lee of Fundstrat thinks that BTC will end the year with $ 40,000. Max Keizer marked the $ 400,000 target on the near horizon. And do you remember our guests about the price of BTC 12-18 months after the halfway? It is quite possible that it will exceed $ 70 thousand compared to the previous half. Keep this in mind during the temporary massacre in the global markets.
3. Nobody Can Take Your Bitcoin
Many people learned the hard way when banking institutions freeze their accounts or get under it. You have bitcoin provided that you follow the correct storage procedures and keep your cryptocurrencies away from exchanges. Unlike the Bank of America branches, which are afraid of a bank operation and reduce cash withdrawals at the moment, while your money is kept in a cold store, no one can take it from you or set a limit on how much you can take.
No central authority can take over your Bitcoin, just as no central bank can suddenly decide to lower your bitcoin value by exerting more pressure.
4. If You Only Have 0.28 BTC, You Are In The Top 1%
Remember, Bitcoin is a long game. As the fiat currency looks at the brink of collapse and more and more people open their eyes to the truth that emerged after this crisis, BTC will prove its worth as the ultimate sounding money of our time. It is globally accessible, unauthorized and scarce at the same time.
When this happens, if you have 0.28 Bitcoin, only 1% of the world may have more than you. This means that you will be among the richest 1% in terms of Bitcoin.
5. BTC Is Differentiating Positively From The Stock Market
All markets, including gold, have been affected by recent sales. Bitcoin was no exception at such a stage. Even so, despite the bad news, the 20 percent increase in Bitcoin should at least give you something to smile at.
