TOP 5 reasons why you should invert to bitcoin now

When the news speaks of a constant increase in the number of people infected with coronavirus, it’s somehow difficult maintain an optimistic attitude. Especially against the background of a sudden crisis in the stock market and with other assets. Fortunately, those who still hold bitcoins and do not sell them have at least five reasons to maintain faith in crypto.

First of all, Bitcoin and other cryptocurrencies are alreadymanaged to bounce off their local lows, and did so quite noticeably. For example, last week BTC managed to drop below 4 thousand dollars. However, yesterday its rate was $ 6,625.

This morning, cryptocurrency was trading at6423 dollars. But even despite this slight subsidence, BTC owners have reason to be optimistic. Moreover, even those who were last bought at the level of 8 thousand dollars for Bitcoin belong to them. These are the pluses.

Bitcoin is not subject to inflation

Combating COVID-19 requires a lot of resources. To cover the multi-billion dollar costs, the United States, Britain and other large countries began to print new money. Thus, they want to prevent a slowdown in the economy, that is, to stimulate spending and hedge those who have experienced a decline in income.

Recall that every American will receive assistance from the state in the amount of $ 1,000:

Trillions of stimulus ...

$ 1.5T in Repo
$ 1.1T Commercial paper relief
$ 1T in US fiscal stimulus
$ 750B QE from ECB
$ 600B QE from the Fed
$ 600B bank loan guarantee (France / UK)
$ 500B in loans (Germany)
$ 300B in Japanese stimulus (proposed)
$ 100B in fiscal stimulus across Europe

- THE LONG VIEW ⚫️ (@HayekAndKeynes) March 19, 2020

These are urgent and well-grounded measures, but they have very serious consequences. Starting a printing press in one way or another will lead to the depreciation of ordinary money and a chain of problems in the economy.

Still, if you create billions of dollars fromnothing, the value of existing banknotes will somehow decline, because the total amount of currency will grow. Against this background, faith in the dollar will decrease.

Fortunately, you can’t just print new bitcoins - their maximum number is limited to 21 million coins. Moreover, the issue of each new coin is carried out strictly according to the schedule.

1.5 months left before halving

Halving is a planned reduction procedureminer rewards for every bitcoin block mined. Next time it will be held in May. After two previous halvings, the value of cryptocurrency twice set a new historical maximum. There is no evidence of a direct influence of halving on the growth rate, but many cryptocurrency experts are sure of this.

Of course, growth after halving may be more likely to occur when, finally, it is possible to localize the distribution of coronavirus. We hope this happens quickly enough.

No one can take your bitcoins

There have been many cases in history when bankinguser accounts were blocked by the bank itself for far-fetched reasons. A harsh reality - the money in your bank accounts de facto belongs to the bank.

Another evidence of this has been encounteredBank of America customers Cash withdrawals for them were limited to 3 thousand dollars. The amount is large enough, but what if someone wanted to withdraw their five thousand? He cannot, he will have to wait.

Bank of America is limiting cash withdrawals to $ 3,000. Expect that number to drop over the next few days.

- Tatiana Koffman ⚡️ (@tatianakoffman) March 16, 2020

But Bitcoins from your wallet can not pick upabsolutely nobody - as well as control their withdrawal. True, all this only works if you store the crypto on your cold wallet, and not on the cryptocurrency exchange.

0.28 BTC will allow you to enter the 1% of the richest investors

It is enough to accumulate only 0.28 BTC to enter the club of one percent of the richest crypto investors. At the current rate, it's a little over $ 1,700. Agree, this is such a big fee for the right to become part of the future financial elite.

Bitcoin does not depend on the stock market

Yes, last week the maincryptocurrencies suspiciously coincided with the collapse of the US stock market. Fortunately, over a long distance, Bitcoin has virtually no correlation with stocks or other traditional assets. That is, in fact, cryptocurrencies can save from the fall of the stock market.

However, in the same way they can fall when the stock market sets new records.

In general, the current subsidence of Bitcoin is eitherotherwise it’s not the end of the world. Cryptocurrency continues to work, the network is reliably protected. Well, users still truly own their assets and can send BTC to anywhere in the world without any permission. So we can perceive the current situation as a sale of coins at a discount.

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