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3 reasons why Bitcoin is not a bubble-WazirX

If you are a beginner in the crypto world and you have no idea about bitcoin. Check this presentation that is all about why bitcoin is not a bubble. Learn more at https://wazirx.com/blog/

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3 reasons why Bitcoin is not a bubble-WazirX

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  1. 3 reasons why Bitcoin is not a bubble

  2. It is a legal tender • A legal tender refers to an accepted instrument of payment used to pay against any financial commitment. With negative press and its decentralized nature, it is yet to be accepted worldwide as a legal payment instrument. However, here are two prominent factors that suggest otherwise - • Increasing transparency and stricter laws in the global market has made regulation a possibility. • This has led to many countries allowing the use of Bitcoin in their country. Currently, Japan, El Salvador, USA and Australia have accepted the use of Bitcoin exchange as a legal tender.

  3. Reviving collapsing economies • Several countries with ongoing recession and increasing debt have turned to cryptocurrencies. Venezuela, Bolivia and many other countries in the African continent are opting to regulate Bitcoin. Perhaps in the coming years, more other countries will start accepting Bitcoin payments. The reason for this is - • As its demand is still increasing, countries with recession are hoping that it will eventually repair their economy. • Hyperinflation of their currency and depreciation of its value against the US dollar has made cryptocurrencies a more suitable option for them.

  4. Limited availability • One of the biggest reasons for Bitcoin to not be a bubble is its fixed supply. Currently, it's hard to place a fixed value on it, analysis suggests that it will only increase. Factors that suggest its growing demands are- • Since its founding, it's reported that there are only 21 million tokens available in the market for circulation. Because of limited availability, the prices may surge in the future. • Recent trends demonstrate that it will slowly integrate into the globally accepted currencies in the world.

  5. Conclusion • The behaviour of Bitcoin is unpredictable but its trends and analysis suggest that it is not a bubble. Although, one thing is for sure only time will tell its future value and in the current scenario, it looks like Bitcoin value will keep increasing. To invest in them only choose reliable crypto trading platforms such as WaxirX.

  6. Thank You

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