Bitcoin Ichimoku Cloud Analysis - BTC Price Prediction - When to Buy Bitcoin?
When to buy Bitcoin? Today I'm using the Ichimoku cloud analysis for BTC price Prediction to find out if NOW is a good time to buy Bitcoin. That is if you believe Bitcoin is the right asset to invest in and suits your unique risk tolerance. Once you've watched the video, let me know what you about the Bitcoin price forecast. Are you investing in Bitcoin? Is now a good time to buy Bitcoin? Or would you rather wait or the BTC price to drop further?
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Created by a pseudonymous developer (or developers) using the pseudonym Satoshi Nakamoto, Bitcoin gave birth to the multibillion-dollar cryptocurrency industry, supported by blockchain technology and the decentralization movement. Although many projects have tried to replicate Bitcoin’s success by creating coins that are far more scalable and advanced on the technological level, Bitcoin has remained the most dominant cryptocurrency on the market.
Its main use-case has been shifting, though. People started to consider it as a “store of value” (digital gold) rather than a “payment currency”. And that is primarily due to its high domination, large liquidity, and general lower volatility in relation to other cryptocurrencies.
Fundamentals:
There is still an ongoing debate in the space about whether Bitcoin should be considered a “medium of exchange” or a “store of value”.
In its whitepaper Bitcoin was designed as a peer-to-peer version of electronic cash. The global cash market accounts for about $36.8 trillion of physical money and could increase to $90.4 trillion if we also include money held in easily accessible accounts.
BTC is the native currency of Bitcoin the blockchain. Its main application within the ecosystem is to serve as a reward instrument for miners who are adding blocks to the blockchain. Miners are paid through a combination of Bitcoin’s block reward and transaction fees.
According to the Simetri research, as the number one cryptocurrency, Bitcoin continues to be the driving force behind the crypto economy. Its influence over the overall market is undeniable, while its prospects for development look promising.
Its ecosystem is evolving, with many projects that enhance its functionality as well as scalability. The Lightning Network alone has seen significant growth since the last year, in terms of both network capacity and merchant adoption.
The interest from institutional investors also has been significant. The appearance of necessary infrastructure that will allow investment in Bitcoin through regulated and well-structured investment vehicles, will attract even more smart money into the crypto economy.
Therefore it seems likely that Bitcoin can become a store of value asset, and attract institutional money into its ecosystem. This will make bitcoin even more dominant in the crypto economy and will support and stabilize its value proposition.
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