What is the current state of Bitcoin (Bitcoin’s current situation)

What is the current state of Bitcoin? Looking at Bitcoin’s history, it has undergone significant changes since the mid-20th century. From early price discovery to the present, the entire market trend has changed. However, with more and more people investing in Bitcoin, this is a huge positive for both investors and the market.

According to statisticians, institutions have been entering this industry and making significant purchases since its birth in 2009. Many of these institutions have held Bitcoin for years without selling, and they continue to accumulate it. This behavior has made it one of the most popular investment products in the market. For those who are unfamiliar with Bitcoin, this is an extremely valuable wealth opportunity: people can easily buy and sell cryptocurrencies. However, without such assets to maintain the stable value of their investment portfolio and generate long-term benefits, they cannot enjoy investment returns. So when you buy, what you get is profit, not loss!

We can see, what is the current state of Bitcoin? I think it is mainly because of its high volatility. Although the price of Bitcoin has recently surged, I still have my doubts because many people are worried that it will fall below zero (or at least before December last year).

In addition, I have noticed two issues:

1. Is the market value of Bitcoin higher than that of gold? Or is it much lower, like popular stocks such as the S&P 500 index?

2. Why is Bitcoin considered a less risky digital currency?

3. Why do people say Bitcoin is a speculative trading method?

Bitcoin’s current situation

What has happened to Bitcoin’s current situation?

According to Glassnode’s data, Bitcoin has risen from $48,000 to $56,000 in the past 24 hours. This trend indicates that Bitcoin is currently testing its market cap of $1 trillion. However, this momentum may not last long – at least until later this week.

Due to the price plummeting and the increased demand for the Bitcoin network, Bitcoin has recently been in a volatile adjustment (as of writing). Despite breaking key support levels and boosting trading volume to new highs in history, the price of BTC still maintains its volatility. (NewsBTC)