The top digital asset by market cap, Bitcoin (BTC), has been preparing for more than a decade now for the next market shutdown as a non-political option to the fiat printing pyramid. Critics and experts believe it is time. Bitcoin (BTC) was actually forged following the last financial crisis of 2008 designed in a way that it would thrive in financial distress.
Bitcoin (BTC) May Initiate The Seperation Of Money And State
Bitcoin’s (BTC) adoption has been pushed by bailouts and bail-ins, including bank failures and political unrest. This is why it has to be said that Satoshi Nakamoto’s message in the genesis block (first Bitcoin) is no coincidence. The anonymous creator of the Bitcoin (BTC) hinted that his creation is designed to serve as a non-political alternative to the already existing financial structure.
The Bitcoin whitepaper could be interpreted by a section of critics as a declaration for seperating money and state. Bitcoin (BTC) became an inevitable solution to restore the pitfalls of the trusted monetary system already in place. For about fifty years now, the international currency (USD) has been operating on a ‘full faith and credit’ only format. The issue in play is that when the publics’ faith is tested by market patterns, credit-fuelled bubbles come to light. When this happens liquidity dries up and cash becomes valuable once again. Hence, the reason why central banks and governments carry out cash injections. Although the demand for the USD hasn’t dropped over time, this practice has affected the Bitcoin (BTC) price. When the USD’s value wanes, the Bitcoin price will hit new strides.
Critics: Bitcoin Is Too Volatile To Be A Safe Alternative For Fiat (USD)
Meanwhile, a section of critics think Bitcoin (BTC) is still too volatile to be considered as a safe alternative to fiat. The price of the digital asset has reportedly dropped by at least 85% from its all-time high recorded last year. But proponents of the top asset class, argue that the short-term price fluctuations shouldn’t be seen as a hindrance. It should not matter when the legal fiat monetary framework is inherently a flawed one. They also noted that smart investors have begun to realize the long-term value of holding Bitcoin (BTC) (the world’s most politically-neutral currency). In a simple phrase or sentence; trusting no one usually pays off for people who wait.
Bitcoin (BTC) Price Today – BTC / USD
According to Saifedean Ammous, an economist and the author of Bitcoin Standard, Bitcoin’s attributes, especially immutability and neutrality, makes it an attractive option for investors who have a long-time preference. Bitcoin (BTC) has already achieved a decade of growth, particularly without a central planner after its original creator disappeared. The digital token grew because it provided utility to many users and developers who have kept maintaining it.
Bitcoin has weathered hacks and attacks as well as community conflicts with many questionable individuals attempting to bend it. In the midst of all of this, Bitcoin (BTC) has been immutable. After it became clear Bitcoin (BTC) was successfully doing this, everyone interested in an immutable virtual hard money could make use of it.
Bitcoin (BTC) Price Analysis
Right now, BTC is trading in red at $3,793.74. This shows that it is down by 0.33% against the USD. The 24 hour trading volume is $5,070,341,606 and the market capitalization is $66,188,493,630.