It is true; the adoption of Bitcoin marks the beginning of a new revolution. The Coronavirus pandemic in a transitional economic time affects the world. Each global transition usually has a technological marker, and the technical marker of the oncoming era is Bitcoin.
What is Bitcoin Adoption
The adoption of Bitcoin means the global acceptance of the coin. Many stock and forex traders predict an incoming global economic crash, attributing it to inflation.
The US dollar is losing value due to a limitless supply. Even a documentary on YouTube explains how excessive dollar printing will cause an economic crash, thereby ushering in a new digital currency.
Bitcoin Will Be a Global Currency
BTC will become the order of the day. Bitcoin is slowly replacing fiat currency and eliminating intermediaries. Continuous adoption of Bitcoin by states such as El Salvador will make Bitcoin the leading currency globally.
Firms like Tesla and Bitcoin whale holdings will help adopt Bitcoin by leading firms such as Grayscale. Bitcoin traverses borders and is borderless. Anyone in Africa can transact with anyone in China without government restrictions.
Top investors can also transfer massive amounts of funds under whale accounts without banks and governments monitoring these movements of funds. The anonymity of Bitcoin transactions makes it good for business.
Market Dominance and Bitcoin Gold
Bitcoin has a maximum market supply of 21,000 BTCs. The coin is a rarity in the market due to its limited supply. It is clear now that Bitcoin holds the weight of the market from this year’s bear market. The collapse of Bitcoin made investors cash out, and the crypto markets collapsed to an ATL of $20 000.
The market dominance will help Bitcoin become like digital gold, hence creating Bitcoin futures for trading. A single Bitcoin will be very pricey because the coin was currently sitting at a market supply of $18,000 and above; the only supply remaining to fill the supply is $3000.
Stabilization of the Cryptocurrency Markets
Global adoption of Bitcoin will help stabilize cryptocurrency markets from high volatility and SEC by stabilizing price movements of the coin. The coin will have a reduced volatility gap; therefore, the bear market will reduce.
Bitcoin will help investors do away with “shit coins” that destabilize the market, such as Squidcoin, a rug pull. Stabilizing the markets will happen because many investors are looking to Bitcoin as a way out of inflation.
When many investors share in the global currency, it will distribute whale holdings to many people around the globe. Therefore, a bear market will not be as common.
SEC will also help set rules against scammers and “shitcoins” in the cryptocurrency markets, therefore, protecting the people’s wealth. Bluechip projects will rise and help sustain the cryptocurrency market. Projects such as Ethereum and Polygon Matic will help hold the cryptocurrency network together.
Adoption of Bitcoin for the Future
Bitcoin is the future currency. If you do not believe it yet, you better take the red pill as early as now. Meta is only an early sign of the crypto-verse, and what is yet to come. If Zuckerberg and Elon Musk believe, I think it is time to take the Bitcoin red pill and HODL.