Cameron Winklevoss and Fidelity Investments agree: The Bitcoin price still has a lot of room for improvement.
The walk through the Bitcoin course got a little dampener. While the key cryptocurrency was still scratching the $ 11,300 at the end of the day, it slipped to $ 10,953 by 0.8 percent on the day. Thus, the 11,000 mark is again the next target.
Nevertheless: Despite the latest price correction, the Bitcoin price is up by 15 percent on a weekly basis. If you listen to the voices from the crypto community, the impressive jump in price at the beginning of the week could only be the starting signal for a wonderful rally.
Cameron Winklevoss bullish
The recent jump to $ 11,000 arouses covetousness and evokes memories of the 2017 golden crypto era. The current bitcoin price is still miles away from its all-time high of close to $ 20,000. If you go to Cameron Winklevoss, co-founder of the Bitcoin exchange Gemini, the chances are more than favorable that the cryptocurrency №1 can continue its best form.
The next Bitcoin bullrun will be dramatically different. Today there is exponentially more capital, human capital, infrastructure and high-quality projects than in 2017. Not to mention the very real specter of inflation, which all Fiat regimes will be exposed to in the future. Buckle up!
In plain language: The Bitcoin exchange rate could overshadow the ATH from 2017, as the conditions for an upward trend are far more favorable than at that time. A global economic crisis, a much larger crypto market, improved infrastructures, greater acceptance, and the flight of investors to safe havens set the course for a historic bull run.
Fidelity report: Bitcoin is just beginning
Fidelity Digital Assets also sees the key cryptocurrency only at the beginning of a long growth period. The subsidiary of Fidelity Investments, one of the largest asset managers in the world, analyzes in a current report the status of Bitcoin as a store of value in times of dizzying bailouts. The result makes Hodler’s heart beat faster.
According to Fidelity, the “unknown consequences of record-low interest rates, unprecedented global monetary and fiscal stimulus, and deglobalization […] contribute to acceptance”. Bitcoin, therefore, benefits in the long term from the current macroeconomic factors and is developing directly into a safe haven for investors. According to Fidelity, the most powerful drivers are “slow and steady inflation” and “massive wealth transfers from the older generation to a younger demographic group.”
These factors accelerate the development of a stable store of value:
In these times, investors could turn to a new type of asset that serves as protection against potential inflation or low interest rates, but has significant growth potential — Bitcoin.
Bitcoin’s growth potential is fed, according to the report, from several factors that together form a springboard for the Bitcoin price. On the one hand, the upswing is driven by investors. Bitcoin is becoming increasingly important as a speculative object in the classic world of investors.
On the other hand, the asset benefits from more and more use cases. Against the background of the demographic change towards a future tech-savvy generation, Bitcoin is also becoming increasingly popular as a means of payment.
Last but not least, Bitcoin also acts as an “insurance policy” in times of crisis. Taken together, it shows that Bitcoin is far from reaching the end of the flag.
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