BITCOIN - Volatility Inbound + Fundamentals ðĶâââââââ
Bitcoin has managed to re-establish itself as a '50,000$ asset' and the next step would be to (hopefully but increasingly probably) rise further towards newer Highs.
On Friday, during the bad Jobs data repost in the United States, the price of BTCUSD rose to the 50k+ level with Bitcoin behaving as a New Safe-Haven.
Fundamentally this is a strong indication of what Bitcoin is: Call it a Hedge, call it Digital insurance, call it Digital Gold or real estate, call it whatever you may call it but first of all understand how beautifully it has been designed as a FINITE product. An asset with limited supply.
The Deflationary Economics of Bitcoin Money Supply:
Thereâs a limit to the number of Bitcoin that will exist: 21 million. Once Bitcoin hits that amount, miners will no longer receive block rewards, and no new Bitcoins will enter the market. That might not seem like big news to you, but economists are up in arms over what will happen in a currency system that has a fixed supply.
What is protecting an investment portfolio from potential stock market volatility? As per Bloomberg Intelligence's Mike McGlone, a merged exposure of Bitcoin (BTC), gold, and government bonds.
Can it drop before rising? Are there any concern/worries?
Firstly, September is traditionally a bad month for Bitcoin
Secondly, the Feds and Sec are around the corner and we have no control over when they appear and what they decide.
The sentiment though is that this will affect ALTs way more than it will affect Bitcoin...
What will happen will be history soon. I remain Long on Bitcoin despite these worries. In the meantime I am in the process of selecting my ALTs with more scrutiny and research while increasing my Bitcoin holdings.
Just my humble opinion,
the FXPROFESSOR
On Friday, during the bad Jobs data repost in the United States, the price of BTCUSD rose to the 50k+ level with Bitcoin behaving as a New Safe-Haven.
Fundamentally this is a strong indication of what Bitcoin is: Call it a Hedge, call it Digital insurance, call it Digital Gold or real estate, call it whatever you may call it but first of all understand how beautifully it has been designed as a FINITE product. An asset with limited supply.
The Deflationary Economics of Bitcoin Money Supply:
Thereâs a limit to the number of Bitcoin that will exist: 21 million. Once Bitcoin hits that amount, miners will no longer receive block rewards, and no new Bitcoins will enter the market. That might not seem like big news to you, but economists are up in arms over what will happen in a currency system that has a fixed supply.
What is protecting an investment portfolio from potential stock market volatility? As per Bloomberg Intelligence's Mike McGlone, a merged exposure of Bitcoin (BTC), gold, and government bonds.
Can it drop before rising? Are there any concern/worries?
Firstly, September is traditionally a bad month for Bitcoin
Secondly, the Feds and Sec are around the corner and we have no control over when they appear and what they decide.
The sentiment though is that this will affect ALTs way more than it will affect Bitcoin...
What will happen will be history soon. I remain Long on Bitcoin despite these worries. In the meantime I am in the process of selecting my ALTs with more scrutiny and research while increasing my Bitcoin holdings.
Just my humble opinion,
the FXPROFESSOR
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ð CRGPT Token: Join the Crypto AI Revolution cryptogpt.io/
ð Public Telegram: t.me/fxprofessor88
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