Yet, Bitcoin is struggling to reach a new All-time-high in price while Gold's been unable to get past $1.9k.
Gold all-time-high is $2,074.60. Although, the price on exchanges would be different but yet similar.
In the crypto market, Bitcoin is the one cryptocurrency that moves everything with it. So if Bitcoin goes down, so will the rest of the other coins being traded on the market.
Yes, if bitcoin is increasing in price and marketcap, altcoins are also going to be increasing in price and marketcap as well.
My question is why isn't crypto rising in price if inflation on major Fiat currencies have soared like crazy? Am I missing something here?
Let me be specific and only focus on bitcoin because many altcoins are shit and dead coins.
Bitcoin was once worth less than $1
Bitcoin grew over $1, $10, $100, $1000, $10000.
Bitcoin now at $30000
Check this also:
Price high 2017 $19700
BTC Price low 2018 $ $4040
BTC Price high 2019 $ $13970
BTC price low 2020 $ $3800
BTC price high after 2020 halving $ $69000
Now at $30000
It is clear that bitcoin is a speculative asset but a save haven in long term.
It's a shame since Bitcoin was long hailed to be a safe-haven asset like Gold.
If you invest bitcoin in long term, like 4 years or more, it is a safe haven. If you invest on bitcoin in short term, like 6 months or a year, it is a speculative asset.
There is nothing bad to hold bitcoin in long term.