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- 1 Bitcoin (BTC), one of the oldest and most powerful digital assets, can be one of the great choices to make, considering the crypto waves.
- 2 Cryptocurrency is worthy enough to connect fiscal trends with the future path of digital assets.
Chief analyst Will Clemente studied Bitcoin’s current state against the competitive crypto environment. Based on the meticulous and comprehensive analysis, it is uncovered that Bitcoin is one of the great preferences considering the crypto market situation.
Bitcoin and the Modern Economy
The in-depth study of Clemente highlights the strengths that Bitcoin holds currently despite facing several declines. Referring to BTC’s present situation, the crypto remained unbeatable despite facing a decline of around 70% from its 2021 highs.
Introduced in 2008 by Satoshi Nakamoto, BTC developed and sustained its powerful position in the crypto market and is assumed to maintain the same in the future.
To make the scenario clear, Clemente also shifted the attention of the community towards the rising debt.
According to Will Clemente, US debt has gradually increased in the past 15 years, hitting around 120% from 60%. Such a scenario is definitely going to hit the US economy adversely. Although the US economy is performing beyond expectations and hitting 2.4% in the second quarter, the public debt also increased by 2.7%.
Clemente also warned the US economy about the happenings and the worst-case scenario following the case.
Debt and Current Performance
Clemente has one of the best solutions for the US to come out of the adverse situation. The solution is Bitcoin.
BTC can be a great pick to let the US economy free from debts and strengthen its financial standing. Commodities like gold and silver weakened during financial ups and downs, and BTC on the other side emerged as an alarming element. Bitcoin’s inherent properties such as verifiability and portability, make it one of the powerful assets in the financial landscape.
Clemente also explained the power of Bitcoin to balance the unstable financial space. Digital appearance, decentralized ethos, and inherent scarcity are the unbeatable potential of BTC and can be the best alternative to stabilize financial fluctuations.
He also added that factors such as economic, demographic, and socio-political factors collectively create a growing path for BTC.
Considering the current performance, BTC’s current price is $26,958.72, a decline of 1.06% in the past 24 hours with a market cap of $525 Billion. The volume of the cryptocurrency in 24 hours is $13 Billion. Additionally, the total supply of BTC is 21 Million and the circulating supply is 190,490,975 BTC.
Conclusion
Will Clemente, a chief analyst, predicted a shining future for the US economy with the oldest digital asset, BTC. The US economy is facing ups and downs mainly in terms of finances, leading to high debts.
Despite declines, BTC has the potential to balance the US economy. According to Will Clemente, Bitcoin’s inherent properties make it an unbeatable player in the financial landscape. The digital appearance, decentralized ethos, and inherent scarcity of BTC make it a great pick in the competitive crypto space.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
