Bitcoin is the most popular of all the cryptocurrencies around today and it is also the most valuable among them all. Bitcoin is the oldest and came to being about a year after the economic meltdown of 2008. Studies show that it was released on the 3rd of January 2009. It started off at a very low value but it has grown in value since then to date to become a highly valuable cryptocurrency. Market watchers are of the opinion that bitcoin will still reach the $20,000 mark, while some more ambitious individuals are of the opinion that it can still hit the $50,000 mark. The bitcoin price graph has also recorded a rise in recent times on its way to a higher value.
Check below for some of the many features that make bitcoin one of the best things to happen to the financial world.
It can be a safe haven
In recent times, the COVID-19 pandemic had led to a rapid fall in the value of stocks and several other assets, with many global economic powerhouses going down. In the middle of all these happenings, the value of bitcoin kept rising and it has risen far beyond 10% since the pandemic began. This is an indication that bitcoin can act as a safe haven for investors since its price keeps on rising. Considering the suggestion of a higher rise given above, then investing in bitcoin will not be an entirely bad idea; the bitcoin price graph gives credence to this.
Bitcoin is safe from manipulation and this is one of the factors that make it an outstanding cryptocurrency worthy of consideration. Bitcoin is not under the control of any central authority and it is even mined independently and this means that negative government policies will never have any effect on it at all.