Deutsche Bank says BTC's $1 trillion market capitalization serves as evidence the cryptocurrency is here to stay.
A recent report by Deutsche Bank states that the price of Bitcoin can continue to rise as it keeps attracting investment from big players. Q1 2021 isn't over yet, but we are already kind of getting used to super-bullish news regarding the cryptocurrency industry and Bitcoin in particular.
MicroStrategy, Tesla, Visa, MasterCard, Meitu and so on... you name it. Everybody wants a piece of the crypto pie, and it is more than obvious that the world is starting to wake up to the fact that the blockchain technology will inevitably revolutionize the way we communicate value and perform transactions on a global scale.
Deutsche Bank is the next giant to publicly discuss Bitcoin in a detailed report that looks like a huge buying sign for investors. The report includes valuable insights into the fundamentals of the largest cryptocurrency by market cap, to the point that it resembles an advanced tutorial for Bitcoin beginners looking to get informed about this internet money thingy.
With diagrams, charts, numbers, comparisons and detailed analyses, Deutsche Bank is obviously trying to educate its customers about Bitcoin as if to say that we are inevitably heading towards the Bitcoin era. Which we are and those of us grinding on LeoFinance have already realized this. Thus, it's a good thing banks are finally coming to terms with it.
Central banks and governments understand that cryptocurrencies are here to stay, so they are expected to start regulating crypto-assets late this year or early next year. They are also speeding up research on their own Central Bank Digital Currencies (CBDCs) and launching pilots.
Source: dbresearch.com
Is it me, or do statements like this sound like a prelude to an incredible bull run towards the end of Q3/Q4 2021? I do realize that we have heard it all before, but it's an entirely different story to have Deutsche Bank hinting that central banks do understand there is nothing they can do to stop the global crypto movement. It's only getting bigger with time, and they have found the courage to openly admit it.
Central banks do know what the future has in store, because most of the time they are the ones shaping it. I don't care who the President or Prime Minister of a country is, give me control of the money supply and I will be the one in charge. And since the guys in charge are trying to educate the general public about crypto, rest assured that the next bull run will make all previous peaks and dips look flat. You know, DYOR and stuff, that's just me.
Bitcoin’s current valuation is pricing in a shift toward cross-border digital currencies; the hypothesis is that Bitcoin, as the leader, will benefit from network effects and become an important means of payment in the future.
Source: dbresearch.com
Bitcoin is currently swinging around the $58k mark, an increase of roughly 2% over the last 24 hours. With a market capitalization of ~ $1.08 trillion and trading volumes of approximately $56.5 billion, the largest cryptocurrency keeps making headlines and attracting major attention worldwide. Positive news are flowing in at such a high pace that one needs to remain wired 24/7 in order to be able to catch up.
More than 12 years after its inception, Bitcoin is still breaking one record after another, demonstrating remarkable growth and taking the total cryptocurrency market capitalization on to the next level while dragging some of the best projects out there to the top with it.
At the beginning of 2017, bitcoin prices were below $1,000 per coin. In December of the same year, bitcoin reached nearly $20,000. Then came the fall and by February 2018, the price had dropped to $7,000. In a year only, prices surged from $4,900 in March 2020 to hit a new high of $60,000 last Saturday.
Source: dbresearch.com
The report breaks BTC's historic run down for those who didn't know, and it doesn't stop there. They continue to drop some hard facts on Bitcoin doubters who keep mumbling gibberish about how Bitcoin is a bubble or a dead end or whatever the heck people come up with to justify their ignorance. Or to have an excuse as to why they are still not holding any. Or both.
Every year, people declare Bitcoin as dead or dying. Since 2010, Bitcoin has been declared dead about 400 times. The number of such proclamations peaked in 2017, but the trend has been decreasing; 2020 saw the fewest Bitcoin obituary predictions in eight years.
Source: dbresearch.com
I am telling you, this report is a must read. Apparently these guys are a hell of a lot more bullish on Bitcoin than most BTC maximalists out there. Or maybe they recently filled their bags and are now doing everything in their power to protect their investment. Whatever the weather, it works for us. Let them keep making noise.
In the meanwhile, the lovely green candle that took us all the way over the $59.5k mark was followed by two successive red ones that sent BTC all the way down to $57.3k, however we have bounced back and are currently swinging around the $58k mark again. But it won't be long until we hit $60k again.
BTC/USDT market depth on Binance and Bittrex is telling a similar story. On Binance we've got less than 660 BTC tokens waiting to be grabbed below the $60k mark, so it's not that hard to just demolish it once again and go for new highs. Market sentiment plays a huge role as well, and there's a lot of positivity in the atmosphere.
Of course, this is not investment advice, just my thoughts based on market indicators that keep changing in the blink of an eye. And considering that there's a number of factors we have no way of knowing, it's safe to say that you should take everything you read in this post with a grain of salt.
Are you holding BTC? If you are, hold it tightly. 0.01 BTC will be enough to completely transform your life in the not so distant future. What are you thoughts on the matter? Would love to read your feedback in the comments below.
Thank you for your attention
Alright guys, that's it for now. Thank you for taking the time to read these lines.
Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.
Stay safe and have a good one,
