Bitcoin is the original cryptocurrency. For this reasons bitcoin fall, it will experience its biggest session.
Bitcoin broke the $50,000 barrier and is still gaining popularity. Bitcoin’s prices rose after Nigerian inflation failed to impact its value. It also helped citizens provide an alternate source of money. In China and Russia, Bitcoin adoption is on the rise. You can buy anything in Japan with bitcoin, including food, clothing, and electronics, as well as houses, cars, and pets. El Salvador will make Bitcoin legal tender. It will be available for people to use as an investment, and it will not be confiscated or taken away by the government. What does this all mean? What will be its bear market like?
Bitcoin surpasses $50K
Bitcoin has broken the $50K barrier thanks to investors pushing Bitcoin high in anticipation of the $600M option deadline next week. He has struggled with fluctuations lately but has overcome its difficulties twice this week, with one day rising by $4,000.
What does breaking the ceiling for BTC mean in the long term? The achievement of this milestone gives Bitcoin another notch. Bitcoin can be considered money in a market and socioeconomic system that want to see it die. While we may be seeing a bear run soon, it will likely provide investors with an excellent opportunity to purchase Bitcoin for lower prices, strengthening its embattled coin.
Bitcoin’s achievement of the $50K milestone was a major win. But, with new challenges ahead, consumers will need more confidence than ever. Crypto is difficult for most people to accept, but it’s almost an ineligible option for those who live in the West. However, there’s still hope if people stand firm and have control of their financial freedom.
Bitcoin’s monthly options run out
August’s options deadline is much smaller than last month’s $1.6B. But the expiry of options contracts is coming when COVID recovery could prove to be challenging for BTC. Wallstreet elites, along with their political allies, cannot keep traditional markets alive-support forever, which is also a reasons for Bitcoin fall. It could also be the victim of some of its greatest attacks.
BTC is fortunate to have bright spots around the globe that may stabilize it in an American downturn (discussed below). After the expiry, we might see a bull run and a clean October that will give us another strong expiry for September, like in July. But it all depends on many geopolitical circumstances.
The monthly expiry of options isn’t a singularity, hence the monthly portion. It’s about the timing. Many financial convergences are occurring in the Fall of 2021. One of these could have enormous implications for the reasons Bitcoin fall.
The upcoming bear markets
Bear markets can be scary for the financially ignorant, but there is no doubt that those in the know have cause to be concerned about. Winter is near, and the financial army awaiting the dead will not hesitate to take over traditional markets. So, what do you expect to happen to Bitcoin? It could be either a time for celebration or despair. I don’t see any compromise for reasons Bitcoin this Fall.
To get a return on money that is more than simple banking, you need to take risks. All investments, whether they be commodities or stocks, are a gamble. The first thing you need to do is keep your ship afloat. Financial waves can wreak havoc on your hull, but a good boatwright keeps it above the water. It is only anxiety, even though it can be painful. The bears and bulls move around like waves. Hold on tight and remain educated.
- El Salvador
El Salvador will legalize BTC in the next few hours. Their economy has been in decline, so Bitcoin is a good option to save them. BTC is already available on the El Salvadorian Stock Exchange. Bitcoin could be a great option for small businesses that use crypto for transactions.
China’s relationship with Bitcoin is not perfect. China legalized Bitcoin mining. But, since 2017, Chinese citizens have been forbidden from trading BTC against Yuan. Despite being very strict in its regulation of cryptocurrency exchanges, China remains a major reasons Bitcoin fall market. It has more than half of Bitcoin’s total hash rate.
Bitcoin has already proven its worth in China despite the country’s ban on Bitcoin. Bitcoin might be able to withstand anything the Chinese government throws at it (including another ban on cryptocurrency).
China is pushing the gold-backed digital Yuan. These countries look to the future. Even if it’s hybrid, it moves crypto one step closer to widespread adoption.
Russa and Bitcoin’s past is turbulent. Russia banned Bitcoin trade as an official currency, and it was also prohibited from being used in financial transactions. However, this year, the Russian government has begun to accept Bitcoin and other cryptocurrencies with proposed mining regulations and tax breaks for crypto-to-crypto income.
Despite the volatile relationship between Russia and Bitcoin, Russia remains a significant Bitcoin market. If relations improve, Russia will likely become one of Bitcoin’s strongest allies. However, there are also other cryptos that are no less powerful, one of which is Cardano boss.
Nigeria’s economy enjoyed a boom in recent months but experienced a slowdown at the beginning of 2021. The government banned cryptocurrency trading in banks on February 2. To stop the use of crypto, exchanges were also closed. But it didn’t work. Citizens switched to peer-to-peer transactions, which helped them weather the 18% spike in inflation.
This is a promising performance by BTC that shows it can withstand Nigeria’s inflation bubble. Bitcoin’s biggest test will come if the government tries to dampen cryptocurrency. Nigeria is an important market for Bitcoin in Africa.
Bitcoin needs a win like that, but it also must strengthen its position across the other regions (discussed further below).
Japan is Bitcoin’s second-biggest market. The country already has a legal framework. The government legalized Bitcoin in April 2017. This means exchanges could continue to operate legally without fear of sanctions from the FSA.
This is great news to Bitcoin. Japan could be what BTC desperately needs: A vibrant Bitcoin marketplace. Japan is the right nation to be an ally for Bitcoin in Asia. This year the government also legalized Bitcoin payments for BtoC (Business-To-Consumer) and BtoB (Business-To-Business).
This official recognition of Bitcoin will be a big step toward widespread adoption.
It is our responsibility to keep Bitcoin alive in the face of harsh regulatory conditions. To survive, bitcoin needs more than good information. It must have the support of its people. If you still trade Bitcoin or keep your BTC in an account instead of on an exchange, there is still hope for Bitcoin.
Bitcoin will be fine if we are strong and committed even during difficult times. Bitcoin is an exciting rollercoaster. We have to ride it!
Bitcoin’s future looks uncertain. Some countries may ban Bitcoins, but it has survived many bans and continues to thrive as the most valued cryptocurrency on Earth. Bitcoin needs you to keep Bitcoin trading, supporting it through its downs, and hold Bitcoin. Bitcoin will thrive if we can survive these challenging times.
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