Bitcoin is now more popular than ever, having breached the $50,000 threshold. Bitcoin fees go up after Nigerian inflation doesn’t affect it. The price of Bitcoin is also increasing as citizens have alternative sources that can put a value on their money. But it does not rule out bitcoin set to fall in an unexpected time.
You can buy nearly anything in Japan with Bitcoin. That includes food, clothing electronics, cars as well houses, and pets. El Salvador will recognize Bitcoin as legal currency, which will allow those living there to purchase it without any risk. Bitcoin is also safe from confiscation and seizure by government officials. What does this mean for Bitcoin? What will its bear markets look like?
Bitcoin’s Monthly Options Expire
August’s options expired in August is small compared to $1.6B last month, but this option expiry comes at a crucial time for BTC. Wallstreet elites can’t maintain traditional markets on life-support forever. This is what hits Bitcoin set to fall. It may be under attack again.
There are many bright spots in the world for Bitcoin that might be capable of stabilizing the currency during a tumultuous American market (described below). We may see another strong September expiry after the expiry. It depends on many other geopolitical events.
The monthly options expiry is not a singularity. This is why the monthly part. It is more about the timing. There are several critical financial convergences in Fall 2021.
Bitcoin Surpasses 50K
Bitcoin has breached the $50K mark due to a strong bull run by investors seeking to push Bitcoin high for next week’s $600M option end. Has had its share of fluctuations recently, but it has managed to overcome these difficulties twice in this week’s time.
But what does breaking this limit mean for BTC in the long run? As a powerhouse in the economy and a market that wants it dead, reaching this milestone marks another notch in the Bitcoin belt.
Although we see a bear market soon, it is likely and investors will be able to take advantage of the moment the bitcoin is known set to fall. This will strengthen the embattled cryptocurrency.
Bitcoin has achieved the $50K milestone. With future challenges ahead of it, this will require consumer confidence. Crypto is difficult to embrace for most people, but it is practically an outlaw in the West. If we remain strong and take charge of our financial freedom, there is still hope.
The Next Bear Market
Bear markets are a concern for those with financial literacy, but there is no denying that they can cause anxiety for those with more knowledge. Winter is on its way, and the financial army to the dead won’t be merciful to traditional markets. What will happen to BTC then? It could either be a time for celebrations or despair. I don’t see Bitcoin in the set Fall.
Risks are necessary if you desire to earn more than just a simple return on your money. Stocks, commodities, crypto – all are gambles. To start, you have to steady your ship. Financial waves will smack against your boat, but a great shipwright keeps your boat above the water. It’s only anxiety, despite how much you might suffer. The bears, bulls, and bears can come and go as quickly as waves. You should not lose heart and keep your eyes open.
- El Salvador
El Salvador will legitimize BTC within the next few days. Their economy is suffering, so Bitcoin has the potential to be their saving grace. BTC can already be purchased on the El Salvadorian Stock Exchange. Bitcoin transactions could also help the economy.
China’s relationship with Bitcoin is complex. China legalized Bitcoin Mining in the country. However, Chinese citizens were banned from trading BTC with the Yuan since 2017. Despite China’s strict regulatory framework for cryptocurrency exchanges, China has remained a significant Bitcoin marketplace. China accounts for more than half the Bitcoin hash rate.
Bitcoin has already defied all expectations, even though it was banned in China. Bitcoin could survive any Chinese government bans, including another full-on cryptocurrency ban.
China is pushing to have the digital Yuan gold-backed. These countries see the future. It brings crypto one step closer, even if it is a mixed market.
Nigeria’s recent boom saw an increase in its economy, but it suffered a slump at the turn of 2021. In February, the government prohibited cryptocurrency from being used by banks. To curtail crypto’s misuse, exchanges were also banned. It didn’t work. Citizens turned to peer-to-peer transactions to cope with the 18% inflation surge.
This is a promising showing from BTC that it has the resilience to resist Nigeria’s inflation. Bitcoin may be put to the ultimate test if the government continues to try and tamper with cryptocurrency. Nigeria is a key player in Africa as well as one of the largest markets for Bitcoin.
Bitcoin is in dire need of a win like this. However, it must also strengthen its position within other regions (discussed here).
Russa and Bitcoin share a turbulent past. Russia prohibited Bitcoin from being used in financial transactions or traded as an officially recognized currency in 2018. The Russian government began to openly accept Bitcoin and other digital currencies in 2018, with its proposals for mining regulations, tax breaks, and tax reliefs on crypto to crypto revenue.
Despite the volatility surrounding Russia’s relationship with Bitcoin, it is still an important Bitcoin market. More importantly, Russia can still be one the strongest allies of Bitcoin if relations continue their improvement.
Japan is Bitcoin’s second-largest market already has a legal framework. The government legalized Bitcoin in April 2017, which means that exchanges can legally operate without fear of the FSA (Financial Services Agency).
This is very good news for Bitcoin. Japan may be just what BTC has been looking for: A buoyant Bitcoin exchange. Japan is the ideal nation to help Bitcoin. This year the government also legalized Bitcoin payments for BtoC (Business-To-Consumer) and BtoB (Business-To-Business).
This recognition of Bitcoin’s legitimacy as a legitimate payment method will help to mainstream its adoption.
It’s our job to keep Bitcoin alive in spite of the harsh regulatory environment. To survive, Bitcoin must have more than just good news. It must also have the people behind it. If you trade Bitcoin but keep it in a wallet and not on an exchange, you have hope for Bitcoin.
Bitcoin will remain fine so long as we keep our commitment strong in the face of difficult times. Bitcoin is a rollercoaster ride and we must buckle in because there’s no turning around!
Bitcoin’s future remains uncertain. However, it has survived numerous bans and continues its dominance as the most valuable cryptocurrency. Bitcoin needs people like your support to trade Bitcoin, hold Bitcoin and help it through its ups as well as downs. Bitcoin will rise stronger if you can endure these difficult times.
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