Bitcoin could be the biggest bubble ever or it is going to revolutionize the banking industry. When it garnered mainstream media attention it was highly talked about and everyone was talking about it when its price reached $20,000.
While looking at current crypto infrastructure Bitcoin is unable to achieve its principle core values however it has started a series of development that might lead as to financial utopia imagined by Satoshi Nakamoto.
Rise and Fall of Bitcoin
Bitcoin and volatility are synonyms of each other. The first pizza was brought using 10,000 BTC and it price peaked $20000 in 2018 due to coverage by the mainstream media resulting in everyone jumping on the bitcoin bandwagon.
These two incident indicates the impact of BTC on the financial and investment market.
However, this train slowed down to due to the volatility of BTC and other reasons, general mass started pulling its money back out of BTC and its price dropped to current $4000.
Public outlook towards BTC
Reports have suggested that masses outlook towards bitcoin has been that BTC is digital gold.
Since it is not controlled by central authority, has self-controlled issuing rate and limited supply it is a good option who are looking for a safe haven to protect their financial assets from political and geographical biases of the economy.
Investing for long term
Bitcoin community has devised a term for long term investing “hodl”.
Even though the price of bitcoin has been volatile in general but looking at the percentage gained at price over the long term it is still in positive.
According to the media narratives, the BTC is a bubble because of its higher price tag in comparison to its initial launch. Altcoin also gained 100 times the initial price but their value is still low so this analysis is false at its core.
Should you invest in Bitcoin in 2019
As recent reports suggest fair share of people knows about BTC and cryptocurrency and numbers of governments already started using blockchain for the services and legalized the purchase of BTC.
Many fintech startups have also emerged, which all in all indicates that Bitcoin and cryptocurrencies future is bright and recent TA suggest about bullish behavior of BTC.