From 20K to 22K in matter of hours, But where is limit?

r1s2g3 in LeoFinance • 3 years ago

In matter of hours Bitcoin jumped from 20K USD to 22K USD and it might be surprise for many or may be not who still see it as undervalued asset that can jump even more.

Source

What exactly driving the Growth.

Corporate Investment.

Finally many fintech companies that earlier used to describe Bitcoin as ponzi, a financial bubble , a fad has exactly reverse their stand . They not only reverse their infact themselves working on their own crypto or digital currencies. Companies like JP Maorgan are the biggest example of this U turn,

If you see the bigger picture this not getting un noticed, everyone is understanding the technology and when the mainstream companies like Square and MicroStrategy openly make their investment public then it give feeling to common people that they are thinking on right direction when they think of investing in Bitcoin. These Big Corporates does not flush their money for nothing and if they openly decided to put their money in it , then it not fad whatever the other side is telling them.

Media Publicity.

Mainstream media that continuously used to show the Bitcoin and cryptocurrency on negative side is also forced to change it's story especially when top bankers openly says that it is no longer fad. Media publicity and outlook of mainstream media is much changed now that earlier used to associate it with the "illegal" and "criminal" activities.
Morever Common public is also not fool when they clearly see how "Big banks" involved in money laundering and used for criminal activities and still remain mainstream and Bitcoin and Crypto are getting side lines due to rumors only.

Easier access

Though I am not a fan of Paypal but there is no denying fact that they are giving easier access to millions of people to Bitcoin and Crypto, This is not only driving growth but it give confidence to user to inhibit their hesitation and move forward toward their acquiring plan.

Is Sky is limit?

Source

Now some question might be arising on your mind that whether this "all time high" is the limit or it can go more high?

Depends on Political and Economic stabilities.

Frankly answer to this very much depend upon the mass adoption and political/economic situation across the world. More you have failed economies they readily see it adopting Bitcoin like Venezuela and Zimbabwe. More you have political unrest and devalued currency , more you find people want to keep their money in currencies that will not devalued due to their corrupt and inefficient leadership and Bitcoin fill the gap.

More the nation engage with each other in aggressive manner, more it will encourage people to keep a global currency reserve that will not be impacted by feud of two nations or group of nation.

We are still small.

Bitcoin on today's all time high of $22498 (at time of writing this article.) is roughly equivalent of 420 Billion market, that makes it somewhat comparable to Walmart having more than 500 Billion marketcap and fraction of Company like Apple that have 2 trillion market cap. If Compared to world wealth that is around 320 trillion, we are still much below then 1 %.

Small means Growth

Since with this all time high , we are still contributing so little in world overall growth it simply means we have lot of scope for growth. Just think if we just get attention of 1% of world wealth, we are going to see BTC well above 150K USD.

Look like , it is still not late to join this revolution and you have still scope to reap the benefits.

Hope you enjoyed this reading and made up your mind for a true "money" and a global currency.

This article is specifically posted from Leofinance and If In case if you do not know what LeoFinance is then you can read about this platform at https://leopedia.io/faq/#what-is-leofinance

If you are wondering about wLeo then you can read about wLEO at https://leopedia.io/wleo/

If you want to start with wleo trading in uniswap pool, then please check https://wleo.io/

LeoFinance allow you to earn LEO that you can swap for wLEO and wLEO can be swapped for ETH in defi pool. So it is also equivalent to mining ETH from blogging.

Hope you have liked it, Please feel free to upvote, reblog and comment.