Wondering What Crypto Markets Are Saying About the Future of Bitcoin? If your answer is yes, then I am here to help you out. There is no doubt that Bitcoin is the most popular cryptocurrency available out there. And a lot of experts believe that Bitcoin will be profitable in the future.
But of course, it is always a good idea to know what crypto markets are saying about the future of bitcoin. So let me just go ahead and talk about it.
What Crypto Markets Are Saying About the Future of Bitcoin?
According to some analysts, the growth of the market has a long way to before it hits maturity. As seen in the traditional markets, where smoothed volatility and liquidity are important factors. While others imply scarcity inherent in its algorithm is the main factor for Bitcoin’s perceived value.
According to a poll conducted by the Alex Kruger who is a macro cryptocurency analyst. He shows that the majority of Crypto twitter participants believes that bitcoin will eventually be mature and settle into a wide price range.
However, timing is always the question and how BTC could be far away from that level of maturity. According to another crypto on-chain analyst and trader, Willy Woo said that the price of BTC still had some ways to go in discovering a price ceiling.
BTC’s market capitalization is calculated through the measurement of total coins in circulation multiplied by its spot price. And it stands at $204.4 billion, and it went down from the pick of $233 billion. Furthermore, Kruger also said that the volatility is likely to due to the lack of total capital in the space right now. As the market cap is increasing, the impact on bitcoin by large market participants who are known as the whales is less likely to be impactful in shifting prices.
As well as for the institutional investors, it would be a welcome change. According to Nic Carter, Partner at Castle Island Ventures said that BTC resembles a commodity more than any other asset class, and the volatility isn’t going anywhere anytime soon.
Is it wise to invest in Bitcoin for the future?
Yes, absolutely, it would be a wise idea to invest in Bitcoin. Even according to the experts, Bitcoin is the only cryptocurrency that will be profitable in the future. Even if you look at the price graph of BTC, you will find that it is only going up since 2009. And it is going to grow further in the future.
However, there are certain times when the cryptocurrency price dropped. But this is the case with every currency out there. And if you are looking for long term goals, there is nothing more profitable than bitcoin.
So that was the answer to your What Crypto Markets Are Saying About the Future of Bitcoin question. I hope this has cleared all your doubts. Also, for any questions, you can feel free to comment below.