Bitcoin is about to take off

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Gold  1759,64
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DJIA  34431,50
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DAX  15048,50
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While the stock market is hanging sideways, it is worth looking at what is happening with bitcoin. The first cryptocurrency is approaching the next levels, which investors will be watching closely. The positivity in the crypto market is evident.


BTCUSD

BTCUSD

There is likely to be a new period of growth for all cryptocurrencies. And here’s why. Just recently, Bank of America published a fairly large report on the prospects and trends of cryptocurrencies. According to the bank, cryptocurrencies are bringing new tools into the financial world, and blockchain technology will help develop new systems and business opportunities in the near future. One such example is the emergence of non-fungible tokens (NFT) and decentralised finance (DeFi).
The share of digital assets in investments by various companies is growing exponentially. The bank also noted that bitcoin has recently correlated better with inflation than gold. It is likely that very soon bitcoin will be used as digital gold, which is easier to buy and sell. Quicker to transfer, and also very easy to transfer or hide. The conclusion of the Bank of America report is that the world is at the very beginning of a long phase of blockchain technology adoption.
Jerome Powell’s announcement that no serious bans on cryptocurrencies are going to be imposed is an additional contribution to the current rise in bitcoin. Only the regulation of certain stablecoins needs attention.
So far, only the strong volatility of the instrument is making adjustments to its use. But as bitcoin’s capitalisation increases, its volatility decreases. Quite in the future, capitalisation will increase and there will no longer be sharp fluctuations. But as the saying goes, if capitalisation goes up, the price will go up, as there are a limited number of bitcoins in total.
Given rising energy prices, rising real estate values in the US, and inflation gaining momentum, bitcoin’s value will continue to rise. This active phase could continue until Christmas and the New Year holidays.

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