Mass adoption for Bitcoin (BTC) is coming. The grab for Bitcoin is getting real. And, BTC is not any longer an optional thing among investors. They take BTC seriously. For all practical reasons, Bitcoin will not work offline. The unit of virtual cash will need electric supply forever to survive.
Recently, payment giant Paypal has offered to support Bitcoin from 2021. This is set to have an impact on the price action of Bitcoin. Some of the seasoned cryptocurrency investors are not happy about holding cryptocurrency in PayPal considering the restrictions and regulations that might apply. Many feel that the idea of holding BTC in Paypal is dumb. However, this is considered to be a new adoption route.
With Paypal making the bet, institutions are competing to bet on Bitcoin. Several other banks are also looking to accommodate cryptocurrency and it just looks like we are turning around the corner. Several major corporations are adding Bitcoin to their reserves. The list of companies converting their cash reserves to Bitcoin is growing. The BTC dominance is climbing high and the noise is expected to subside and the price is expected to improve with hash rate.
Michael Saylor, Microstrategy CEO stated that their company are looking to hold their Bitcoin for a very long time. The executive went to the extent of stating that they will hold on to their BTC for a very long time for nearly 100 years.
He further clarified stating, “This is not a speculation, nor a hedge, and that it is a deliberate corporate strategy to adopt the Bitcoin Standard.”
Bitcoin (BTC) Difficulty Getting Adjusted Marginally
At present, the hash rate and mining difficulty on the Bitcoin network is continuing to rise and the difficulty is getting adjusted marginally. Several cryptocurrency exchanges are of opinion that a prolonged Bitcoin uptrend is imminent.
There are some areas where it is not practically possible to scale with bitcoin. This is one reason for why Altcoins made it to the cryptocurrency space. However, it is very hard to discuss these facts with BTC maximalists.
When talking about the price factor, Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) halving creates the supply and demand pressure and users will be able to make good profits without massive trading balance.”
Creating winning opportunities these days does not involve watching the screen all day. Rather than guessing the market tops and bottoms, investors are becoming interested in professional trading processes that mostly follow automated strategies by fixing activation price.