The price of bitcoin fluctuates frequently and unpredictably. And because of this, it’s possible that the price of bitcoin will rise quickly for a little period before falling. Although Bitcoin investors may not appreciate price drops, they are a part of the larger Bitcoin volatility.
At the start of this year, the price of Bitcoin decreased drastically and this is only a short time after it peaked at the end of last year. BTC is now trading for about $24,000 at this time.
Even though BTC has lost almost 60% of its value from its peak, well-known macro strategist Lyn Alden said she still has a bullish long-term outlook for the cryptocurrency. According to Alden, who spoke with market analyst Alessio Rastani, she is considering the wider picture and recognises the significance of Bitcoin in the macro environment.
long-Term Bullish on Bitcoin
“Basically, this is the time to focus on what’s real, what’s being built, what problems are being solved, especially when you look at globally — the whole world, developing markets, especially — and seeing what are the problems with the money system? What’s happening with inflation, what’s happening with authoritarian countries or frozen bank accounts and all sorts of things like that, and what technologies can actually be useful for them?
Alden adds that investors should focus on BTC’s fundamentals in addition to the premise that Bitcoin appears positive from a macro standpoint.
She believes it comes down to controlling position sizes before concentrating on the basics, which, in spite of common assumption, do exist.
She explained that one can look at what is happening in terms of development: what is happening with the Lightning Network, what is happening with various wallets and the ecosystem surrounding the entire space, what is happening with adoption in specific developing markets.
Alden also thinks there are various ways to analyze the market to understand what is going on in the background.
Please support thecryptocoinreport.com by sharing this post. Also, support us on https://twitter.com/the_crypto_coin and on instagram.com/the_crypto_coin_report/