The excessive price volatility of Bitcoin- which has a finite supply and is distributed via cryptology, with no central intermediary-has elicited numerous discussions about whether the digital asset has intrinsic value. Since its launch in early 2010, Bitcoin has displayed a wild price ride, hitting an all-time high price of around $64 000 in April 2021. Thus, 2017 was a historic year in Bitcoin's price charts: the coin started at $1000 and ended at $19 783.06, representing a 1 824%…
Tag: Store of Value
Bitcoin Continues to Get Closer To Being a Safe Haven Asset
Many people consider Bitcoin a store of value and they look for opportunities to buy when its price declines. This is one of the reasons it is called digital gold. Bitcoin is likewise hard money with a limited supply and despite being digital, it does not encounter the challenges faced by gold. The cryptocurrency is becoming scarcer every day even as its inflation has declined after the completion of its block reward halving. Additionally, hodlers’ attitude shows that they have…
1 year ago
