Since Bitcoin essentially allows to "become its own bank", the responsibility for storing cryptocurrency lies mainly with users. A popular saying in the crypto community is "not your key, not your bitcoin", which means that whoever masters the key phrase of the wallet can control the coins in it.
"I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what's like it, which is gold or some kind of commodities," said by Legendary investor Bill Miller.
As Bitcoin is now sitting at its highest historical levels and the crypto community is anticipating more records in the near future, it is important to remember that the safety of crypto holdings very much depends on the user.
When the world was about to end, Bitcoin attracted attention, which was an anti-vaccine transaction. With stocks and everything else getting better, people have forgotten about the trade war, the pandemic eclipsed things, and Bitcoin took a back seat in all of this
On Tuesday, the most popular cryptocurrency, bitcoin (BTC), breached the USD 17,000 level for the first time since January 2018. However, other major coins from the top 10 club outperformed BTC today.
After a slight downward correction, the price of Bitcoin resumed its upward upward movement, breaking through $16,700 and $16,800. BTC was able to clear the barrier of $17,000 and trade at a price close to $17,100. The price is currently consolidating its gains, and it seems that the price may rise further to over $17,200. The next major resistance is at $17,400. If there is a downward correction, the $16,920 level is a good support. The first major support level is now around 16,800 USD (recent breakout zone).