The new BTC research shows that since the launch of the cryptocurrency, BTC was pronounced dead at least 300 times and in the height of the bear market in 2018, a total of 90 times. As we are about to read in the bitcoin news now, the benchmark cryptocurrency has proven to be the best performing asset and a store of value despite everything.
As we are going towards the end of 2019, bitcoin is doing well and it managed to carve a niche in the financial system as we know it. Crypto traders, blockchain experts, and researchers all agree that the cryptocurrency offers a strong value proposition. This unique quality enables the digital coin to surpass a number of shortcomings. Since the inception in 2009, the king of cryptocurrencies has grown by more than 164,000% and this is why the distributed ledger technology expert The Crypto Oracle, was 100 percent sure that Bitcoin has proven itself as a solid store of value. According to the new BTC research, we can read that:
‘’I would argue that Bitcoin has proven a good store of value if viewed over a long time frame. Since its existence, it’s been the best performing asset in the world. It’s on the way to being the only non-correlated store of value (SOV) asset in the market, something that is especially valuable in such financial uncertainty around the world.’’
When speaking on financial uncertainty, Enzo Vilani who is a chief strategy officer of Transform Group agrees that Bitcoin has become so strong in times of indiscriminate quantitative easing and he said:
‘’The World Bank and its members are discussing global quantitative easing, and we are at a point where printing money is now a common practice globally and coordinated by governments. One more huge crisis and we will see a shift toward bitcoin by major money.’’
Regarding the question of whether Bitcoin is a proven store of value, many crypto traders see the big potential bitcoin has. Hans HODL who is senior quantitative research at Ikigai stated that Bitcoin has the potential to become one of the greatest stores of value ever. The CTO and co-founder of the full-service blockchain accelerator MouseBelt, Galen Ganzieger, shares the same opinion as he said:
‘’Bitcoin has proven itself as a store of value. While it is less predictable in buying power compared to the US dollar in a short time frame, it is a strong alternative to other currencies and gold.’’
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