How Bitcoin comes in handy in moments of uncertainty
There is no better time for Bitcoin adoption and Patricia is the best choice. We are at a turning point in history. The outbreak of COVID-19 has changed not only our social plans. It disrupted every aspect of life, from social interactions to the global economy. While many are wondering what the economy will look like after the crisis. While fighting COVID-19 in other countries, such as Nigeria, other problems have arisen, as seen after the #ENDSARS protest.
In the aftermath of the coronavirus crisis, one thing is certain: governments and central banks are struggling to find solutions. Moreover, it seems that their efforts were exhausted already at the start. The history of money is sometimes marked by radical systemic changes.
Bitcoin was created in 2008 in response to the financial crisis, and the current global chaos has allowed it to assert itself as an alternative and new asset class. However, when liquidity is needed, as it is now, everything is sold, especially risky assets.
Bitcoin (BTC) is now regarded as “ digital gold ” and a safe-haven currency more than ever before.
John Bollinger, the creator of the Bollinger Band, rightly noted that during a crisis, investors will “ sell whatever they can sell, ” and only after the assets have been converted into cash, they will invest in anti-crisis assets.
Bitcoin has this advantage – firstly, Bitcoin prices are regulated without any intermediary intervention and are based solely on supply and demand. The number of Bitcoins that can be created is limited to 21 million, which means that unlike traditional fiat currency, new Bitcoins cannot be arbitrarily printed.
While Bitcoin may not necessarily rise during a crisis, it follows supply and demand drivers, which can be useful for risk management. It will be a clear advantage for our traditional monetary system to have alternatives to resort to in times of crisis. It’s Time to Accept Bitcoin and Patricia Is the Best Choice
In the face of an expanding global crisis, the first and largest cryptocurrency Bitcoin (BTC) has managed to show a positive trend, doubling its value in the past few weeks. BTC/USD is up 40% since early October and 7% in just the first week of November, trading above $ 15,000 and hitting its highest level in nearly three years.
A peaceful protest called #EndSARS, organized by Nigerian youths demanding the dissolution of the […]
