FX.co ★ Bitcoin gains power

Bitcoin's upward movement could be as dramatic as its decline. In addition, the main cryptocurrency seems to be bulletproof for fundamental attacks. After China banned mining, its share in the global hash rate has declined from 75% in September 2019 to zero by now.

Miners migrated to the US, and their hash rate increased from 4% to 35% in 2019. It is very important to remind yourself of such facts when emotions overcome doubt, and confidence fails with a sharp drop in bitcoin.

Presumably, Bitcoin prices will be six figures in the next few months.

Bitcoin is gaining strength. When fiat currencies are threatened with inflation to the level at which the world is now – this is a rare case.

Procrastination is usually fueled by a belief in the rising prices of things. In fact, the currency is less valuable.

So, ideally, do not measure everything in the currency of your country. Measuring the price of gold or bitcoin gives a more realistic idea of price/value changes.

Now, the cryptocurrency market has become more mature and less volatile.

After the Great Crypto Crash, Bitcoin's liquidity has improved significantly. Following Bitcoin's collapse last 2018, the volume fell below $5 billion per day. This month, the trading volume averaged about $ 24 billion, which indicates the continued market interest in the world's leading cryptocurrency.

Monetary stimulus measures and subsequent concerns about inflation have prompted countries such as El Salvador and financial institutions such as investment bank Morgan Stanley (MS) to start accumulating bitcoins or offering customers access to them.

According to Bitfrost managing partner Anton Chashchin, the topography of the end of 2021 is very different from 2017. Then in 2017, bullish growth was determined by a snowball of retail investors, and the current growth was determined by the influx of organizations. He cited the example of the investment bank JP Morgan (JPM), which is developing its Blockchain Center for Excellence, which gave rise to the rapidly growing cryptocurrency Kadena (KDA-USD).