Cryptocurrency analysts name 8 reasons for further growth of bitcoin

The attention of the crypto community is now focused on the bitcoin rate. Users believe that the cryptocurrency has prospects for long-term positive dynamics. To support this thesis, industry experts highlight 8 arguments, and let’s take a closer look at them.

1. Cryptocurrencies continue to conquer the financial market. A few years ago, it was hard to imagine that digital assets would be on a par with national currencies. Today, bitcoin, along with the US dollar, is the official payment instrument of El Salvador. People all over the world are discovering cryptocurrencies every day as an alternative to the outdated fiat.

2. The market is waiting for the approval of the first spot bitcoin ETF in the United States. According to Сейлор" href="https://noworries.media/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor, founder of MicroStrategy, this instrument is capable of absorbing trillions of dollars. As a reminder, BlackRock, among others, has once again become a likely candidate for launching a bitcoin ETF.

3. Next year, the company will hold a Crypto halving event. As the history of observations illustrates, this event triggers cycles of dynamic market growth.

4. Cryptocurrencies look more attractive in the face of uncertainty in the geopolitical arena. While some countries are trying to calm inflation and others are trying to resolve disruptive conflicts, the crypto market continues to move within the framework of predictable cycles that are «shaped» by halving. You can visualize the cyclical behavior of the digital asset market with the help of the bitcoin rainbow chart:

5. The crypto market is predictable. History shows that bitcoin, followed by most other virtual coins, updates its absolute maximum value every four years. Cryptocurrency rate movements can also be seen on the chart:

6. Bitcoin’s status has already been determined. The U.S. Securities and Exchange Commission (SEC) considers BTC to be a commodity. This year, more than 60 cryptocurrencies have been blacklisted as illegally issued securities by the regulator. Regulatory transparency makes bitcoin more attractive than altcoins, which increases BTC’s chances of growth.

7. Bitcoin has proven to be an effective tool for protecting savings from inflation. Central banks around the world have the power to print cash and put it into circulation uncontrollably. Meanwhile, the market continues to look for tools to protect against inflation. And bitcoin is one of them.

8. FOMO is a syndrome of opportunity cost. The phenomenon has repeatedly «accelerated» the digital asset market and caused its active growth. It can be assumed that the industry will face new outbursts of the opportunity cost syndrome, which will only support the positive dynamics of bitcoin.