The Economist: "Bitcoin's Role in Portfolio Diversification"
Date: 2023-12-20 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Experts now recognize that Bitcoin can serve as a tool for diversifying risks. It is also relevant for citizens in countries with repressive regimes. Despite the tightening monetary policy in the United States throughout the past year, Bitcoin has shown resilience. Even the collapse of one of the largest platforms, FTX, did not have a long-term negative impact on the asset.
Recently, the coin's prices reached $45,000, noteworthy given that at the beginning of the current year, its value did not exceed $16,000. The Economist highlights that Bitcoin's stability is rooted in its inability to go bankrupt. It is built on blockchain technology, which records transaction information.
Furthermore, the number of investors willing to allocate funds to BTC is steadily increasing. This is attributed to traders' belief in the widespread adoption of cryptocurrencies. Retail artists and art studios are increasingly using NFTs. Another Bitcoin halving is scheduled for the coming year, and industry experts believe it will positively affect the asset's performance.
Some analysts argue that this event may not have an immediate impact on BTC prices. However, in the fourth quarter of 2024, the asset could potentially reach a new All-Time High at the $69,000 mark.
