March 28, 2024

Is Bitcoin a bubble or a reliable asset?

Is Bitcoin a bubble or a reliable asset?

According to Amber Group CEO Michael Wu, Bitcoin (BTC) cannot be classified as a bubble in the financial market.Volatility is likely to remain for now, however, BTC has already emerged as a class of reliable assets, the businessman said in an interview with CNBC.

Many investors are suspicious of cryptocurrency because its price fluctuates a lot in both directions. This is worrying and makes potential bitcoin buyers skeptical.

Michael Wu said:

«People always doubt what is natural because they need time to understand what they are dealing with and whether it is sustainable».

Periodic exacerbations of volatility —this is the main factor that frightens many investors who are ready to invest in BTC, but are still taking a wait-and-see approach. However, it is worth recalling that many public companies have already invested in Bitcoin, and their number continues to grow.

The CEO of Amber Group meant MicroStrategyand Square, who previously confirmed that they bought over $ 1 billion and $ 50 million worth of bitcoins, respectively. Even if volatility persists in the near future, we still cannot call Bitcoin a bubble.

Cryptocurrency is gradually becoming one of the key safe-haven assets. Moreover, Michael Wu does not rule out a scenario in which bitcoin will take the place of gold.

On Saturday. On February 6, the BTC rate rose to $39,300.Already today, the coin can break above $40,000 and at least repeat the run of early January 2021. Let us remember that at the beginning of last month Bitcoin reached $42,000.

Where is it more profitable to buy bitcoin? TOP-5 crypto-exchanges

For a safe and convenient purchase of cryptocurrency, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that supportDeposit and withdrawal of funds inrubles, hryvnias, dollars and euros.

The most reliable platforms with the largest cash turnover have been for several yearsthe largest cryptocurrency exchange in the world is Binance.Binance is the most popular crypto exchange in the CIS, as it hasmaximum trading volumes and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

# Cryptocurrency exchange Official site Site evaluation
1 Binance (Editor's Choice) https://binance.com 9.7
2 OKEx https://okex.com 7.4
3 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5
5 Yobit https://yobit.net 6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
  • Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
  • Feedback and support– we analyze user reviews and the quality of technical support.
  • Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform Features– availability of additional features — futures, options, staking, etc.
  • final grade– the average number of points for all indicators determines the place in the ranking.

Is Bitcoin a bubble or a reliable asset?

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