- Bitcoin currently is working at 6775 dollars a unit and still shows a lot of promise.
- Crypto Michael feels that’s that Bitcoin is something that in the coming years is going to be booming and become even more valuable.
- On the other hand, the backing of the Chinese Government on blockchain technology definitely shows a firm belief in a bounce back.
Bitcoin the futuristic cryptocurrency is something that has shown a lot of promise. With the fall of its cousins like ethereum who have shown less promise over the years and its increase in loss in faith has left Bitcoin as one of the only few cryptocurrencies on the blockchain having potential. Bitcoin currently is working at 6750 dollars a unit and still shows a lot of promise.
Crypto Michael feels that’s that Bitcoin is something that in the coming years is going to be booming and become even more valuable. A lot of rumors around the false bubble around Bitcoin have people on the edge but a lot of people still have a lot of faith in the cryptocurrency.
As Michael said that even if it falls down to six thousand and five hundred dollars it just means it’s getting easier to buy and hold on until it surges back up again. He doesn’t get into the micro-level fluctuations it faces but rather banks on it on a long term return being significantly higher.
People took to Twitter to show their opinions on the same and hoped it would stay low giving them time to buy but the way it looks the demand for the same on a low price is going to hike considering that even a futuristic cryptocurrency like Bitcoin is a subject to the law of demand and supply.
Whatever movements there are now (whether we go back to $7,800 prior to any further downwards movements), I do believe that the asset $BTC is one of the few bullish assets macro wise for the coming years.— Crypto Michaël (@CryptoMichNL) November 24, 2019
Bottoming $6,200-6,500? Hell yes, I'll be happy. Stack some more BTC.
Personally, governments don’t bank on something as risky as Bitcoin because it’s not backed by anything which makes it a danger to the Financial Markets. But with the Liberalization and opening of economies, the government is open to experimental behavior which is beneficial to Bitcoin.
On the other hand, the backing of the Chinese Government on blockchain technology definitely shows a firm belief in a bounce back. This would be beneficial for Bitcoin as the safety value of the cryptocurrency is going to increase again.
It stands as of today as one of the biggest jumps and promises of 2019 and it’s long term bullish attitude the market shows promise for the beginning of twenty.