Cryptocurrency was an unknown phenomenon when it was launched in 2009 as people were accustomed to Fiat or bank transactions. Bitcoin (BTC) was the world’s first-ever cryptocurrency, and many believed using a digital currency an alien thing since customers were unfamiliar with the concept of cryptocurrency.
Fast forward to 2023, Bitcoin has withstood the test of time and is now the world’s largest cryptocurrency by market capitalization, thanks to its positive adoption and profitability. Many investors around the world have invested in BTC and made a lot of money with it.
2022 was not a great year for Bitcoin and cryptocurrency overall as digital currencies lost value. But Bitcoin had been through such bearish runs in the past and always bounced back strongly which gained the trust of its investors.
Let us find out whether you can count on Bitcoin in future or not.
Bitcoin – the Best Cryptocurrency
Bitcoin was launched at a time when the world was already going through a financial crisis. People across the globe suffered financial losses due to rising interest rates and falling investments.
In all such circumstances, BTC became a way forward something that puts you out of the clutches of the traditional financial system that relies on banks and government rules and regulations. It provided many an opportunity to start using a digital currency that is free from bank regulations.
Bitcoin is a digital or virtual currency that is supported by blockchain technology and is protected by cryptography which consists of complex mathematical problems. BTC is an unregulated currency which means neither a bank nor any government can interfere with its transactions.
You can use a digital currency that is completely free from any regulations and offers remarkable returns. This amazing nature of Bitcoin has attracted many investors who want to get rid of interest rates, inflation, etc.
Bitcoin has been labelled as the best alternative to Fiat or traditional currency by many global leaders. Carl Runefelt, alias, The Moon, is a global crypto leader who believes in the supremacy of BTC.
He says, “Bitcoin is a game of patience. You cannot look at the daily chart and put too much significance on it. Holding long-term will make you money in Bitcoin and crypto in general. If you look at the day-to-day or minute-to-minute, it can look very volatile; you see 50 jumps and then 60 dumps. People get fearful and panic, but always remember if you zoom out on the Bitcoin, you will always see a bull trend on Bitcoin.”
Protection from Inflation
Inflation has always been one of the greatest challenges of the banking system from which, everyone suffers. One day, you pay a price for a commodity, the other day, it can become unaffordable due to rising inflation.
When it comes to finding a way to avoid inflation, Bitcoin is a currency you can rely on. BTC works independently of the bank regulations and does not fall under the supervision of any financial institution.
In addition, Bitcoin comes with a limited supply, and you cannot go beyond it. The protocols of BTC are designed in a way that you can only trade its limited number which offers an inflation hedge and incredibly increases the purchasing power of its users.
Incredible Returns
Bearish runs in the crypto market have happened in the past when many digital currencies lost value. This is because cryptocurrencies are decentralized currencies, or one can call them free-floating currencies.
But Bitcoin has always done an incredible job even when the crypto market went bearish. It is a digital currency that has remained stable, regardless of losing value and always bounced back strongly once the bearish run is over.
Carl, on his YouTube channel, The Moon, emphasizes, “When Bitcoin or when the world is in some type of volatility some kind of uncertainty, I think that is generally something strong for Bitcoin because Bitcoin has zero third-party risk so no matter what happens, you never have any third-party risk against anything. So, Bitcoin is the safest place in the world to put your money or put your wealth.”
BTC, in the beginning, was worth mere pennies and you can buy one Bitcoin even for cents. But Bitcoin has come a long way and reached an all-time high value of $70,000 in 2021.
This shows the immense potential of Bitcoin which has already proven and made many investors millionaires and even billionaires. So, you can trust Bitcoin for the safety of your finances in future and invest in it when it is remarkably affordable.
Conclusion
Bitcoin is still a new currency as compared to Fiat and has to go through a long journey before becoming a mature currency.
But BTC has already shown its potential of replacing the traditional system with financial freedom and safety.
Now it is completely in your hands whether you can invest in Bitcoin and make a lot of money in future or miss this amazing opportunity for financial security.
