The Bitcoin cryptocurrency appeared at a time when the global financial crisis of 2008-2009 was growing, and humanity was looking for a way out of the situation with the growing public debt of the G7 countries (“Big Seven”). However, the classic “cure” for the decline in real estate prices in the United States turned out to be traditional: an increase in the issue of the American currency and the volume of issued bonds of the US Treasury.
In May of this year, a Bitcoin halving took place, after which it became clear that the volume of this cryptocurrency issue was not only predictable. Now a new reality has arisen: until approximately May 2024, the volume of Bitcoin supply will be twice less per day than before. After May 2024, the rate of Bitcoin emission will decrease again. It is curious that this time the halving of the supply of Bitcoin happened on the eve of a very significant event in the world of finance: at the end of June, the US Federal Reserve printed more US dollars a month than two centuries before. It was this response of the American financial authorities to the next crisis that showed that the United States is again ready to increase its national debt.
Meanwhile, against this background, Bitcoin looks like an increasingly attractive asset, which is increasingly being talked about in the US itself. Mike Alfred, the head of the analytical company Digital Assets Data, believes that the policy of the US authorities will bring new investors to Bitcoin, moreover, who own large fortunes in addition to the approximately 40 million Americans who have already invested in this cryptocurrency.
Signs of new investors were seen in the week when Bitcoin, having reached the $ 11,390 mark, held firmly above the $ 11,200 level, rising above $ 11,800 in early August 2. Crypto Capo analyst predicts that the cryptocurrency’s fixation well above the $ 10,500 level indicates its desire to go to new highs during the rest of the year.
Another expert believes that there is a possibility of a temporary downward correction in the Bitcoin price.
Bitcoin is also interesting because its ecosystem is constantly evolving. Thus, the BTC.top mining pool, one of the largest in the world, has proposed a modernized version of Bitcoin cloud mining, the so-called “joint mining”, which is aimed at participants in the classic world of finance.
The development of the Bitcoin ecosystem is positively assessed by Bitcoin billionaires, the Winklevoss brothers, who believe that this is becoming one of the factors behind a stronger and more sustainable growth in the price of the oldest cryptocurrency in the foreseeable future.