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If you are a Bitcoin trader, you will likely have heard of the term “Bitcoin bull market”. Put simply, a bull market is the period during which the price of an asset turns sharply upward, following the rough trajectory of a bull’s horns. So, are we in a Bitcoin bull market? Well, we could potentially be gearing up for another big Bitcoin bull run yet, which many are referring to as a potential ‘supercycle’ that could take us to new highs in the crypto markets. Let’s, therefore, look at some of the different factors that could make Bitcoin investors feel bullish.
Bitcoin is without a doubt making a big splash in institutional investment circles. Specifically, news stories are pouring out daily about institutional investment firms and regulators enacting new policies and partnerships to assist in the process of blockchain technology integration into their businesses and crypto adoption.
Bitcoin and other cryptocurrencies are fundamentally about decentralized, global, financial independence and freedom, and the ability to have complete, full ownership of your assets. Bitcoin is a borderless, censorship-resistant digital currency and available to anyone across the globe with internet access. Consequently, crypto, at least in theory, lends itself well to being an asset class for international travelers or “digital nomads”.
Most people in today's society have heard of either cryptocurrencies in general, or at least Bitcoin specifically. The crypto market keeps growing, and as of 2020, crypto awareness is arguably bigger than ever before. Along with this surge in public interest, people are also starting to open their eyes to the technology behind cryptocurrencies such as Bitcoin. The fundamental technology for cryptocurrencies is blockchain, and this is an essential cog in the crypto machine.
So, say you’ve just invested in your first crypto, more than likely Bitcoin, and now you're wondering what to do with it. There are many different options to explore, some of which we will discuss below. Perhaps you are reading this because you feel close to investing in your first crypto, but you are unsure what to do with Bitcoin afterward. Further on, we shall explain the value of holding Bitcoin, alongside ways and means to make your Bitcoin work for you.
As long as you haven’t been living under a rock, you will likely have heard of Bitcoin. You may know Bitcoin as the revolutionary digital currency, or you may have been led astray by the baseless rumours that Bitcoin “is only used for dark web online purchases” or illegal activities. However, this couldn’t be further from the truth. Bitcoin and other cryptocurrencies like it are rapidly becoming widely accepted both in institutional sectors and in the wider society. With growing interest, a lot of people are now asking ‘Where can you actually spend Bitcoin?’.
In the years following its inception back in 2009, Bitcoin was regarded as somewhat of a - however undeserved - poster-boy for cybercrime and illegal activity. Over the past decade, if you asked anyone in the street what they thought about Bitcoin, the small minority that had even heard of it would likely have told you that it’s either a scam, a Ponzi scheme, or only used for illegal purposes. However, this erroneous view is quickly changing.
Does the COVID-19 coronavirus pandemic affect cryptocurrency in any way? In this age of information, it can sometimes be difficult to determine what is true and what is not. The rise of “fake news”, coupled with extreme economic uncertainty is distorting our perception of reality and changing the fabric of our lives. Throughout mainstream media, there is an abundance of misinformation and misrepresentation of facts, with much of the conversation in the news falling short of any substantial discussion.
Terms like Bitcoin, blockchain technology, and cryptocurrency alone can feel intimidating to some people, others though may feel excited to hear about it. Blockchain is a relatively new technology given to us by an anonymous developer(s) known as Satoshi Nakamoto in 2008, and is still in the ‘early adoption’ phase. As such, there is still some fear or confusion around the subject, due to a lack of understanding and education. Some people, however, are intrigued about the subject enough to dig a bit deeper, and will start searching the internet for Bitcoin courses to learn more - if you are one of those people, welcome!
