While everyone had pulled out the party favors and the Champomy by the time Bitcoin was over $ 10,000 a handful of hours ago, the dean of cryptocurrencies has done very precisely everything that was not planned by dropping heavily in the night. You may say, most immature behavior, almost disgusted by so much childishness on the part of an asset presented as “gold 2.0”. Yes but here it is, Bitcoin (BTC) is still only a child: and BTC may be the undisputed overlord of the crypto kingdom, the child king has moods. The young Bitcoin has already come a long way, but there is still a lot to learn: will tomorrow be better?
You are a pioneer!
In a timely manner for our theme of the day, in a tweet published on May 2, 2020, the head of business development within Kraken, Dan Hedl, Claimed that Bitcoin is still in the early stages of its development – interesting information to put in perspective with this ambitious roadmap of Bitcoin.
According to Hedl, although Bitcoin has already celebrated its 10 candles, the total capitalization of the dean of cryptos positions it for the moment in the childhood phase.
The market cap of Bitcoin currently stands at around $ 163 billion, a pretty exceptional performance given his young age.
Hedl also added that in the future, those who invest today in Bitcoin, will later be considered pioneers.
Little Bitcoin will get big
The founder of the analysis firm Glassnode, Rafael Schultze-Kraft, seems to share the same opinion as Hedl.
Schultze carried out a comparative study of the Bitcoin compared to that of other traditional assets and currencies: this study shows the extent to which the market’s size BTC, is for the moment less globally, thus suggesting strong possibilities for expansion in the future.
The size of the gold market is 42 times that of Bitcoin ; the assets of the Federal Reserve Bank is 100 times the current size of the oldest crypto market; and finally, the global currency supply is equivalent to 120 times the size of the Bitcoin.
Despite the recession following the pandemic, Schultze-Kraft observes a fairly rapid recovery of the BTC, with currently fundamentally green lights.
The founder of Glassnode also added that recent activity in the BTC is more related to long-term investments than to speculative operations.
Bitcoin has already proven itself, but we ask more and more! The child already has a lot to teach us about a healthy economy and global finance without cheats. Parents should listen to it carefully and take notes!
Litecoin, welcome in the Silver Age