Bitcoin’s rise from below $1000 to nearly $5k has certainly not gone unnoticed in the trading world. Other cryptocurrencies have made similar jumps or even larger ones.
Many Forex, CFD, commodities, and stock indices traders are however still hesitant to trade cryptos (altcoins) despite the massive bullish momentum
Bitcoin has managed to overcome multiple hurdles in its short but lively history. The fact that Bitcoin is “alive and kicking” shows its strength to endure for almost a decade in a tough financial environment with competitors such as Gold, Silver, established currencies like the US Dollar, and other assets.
Bitcoin is being frequently used a method for payment and more vendors and stores are accepting Bitcoin. It is also clearly storing value as the market participants accept a price of more then $4000 per Bitcoin as of recently.
Are you worried about government debt, central bank quantitative easing, and the value of fiat currencies? Bitcoin and the cryptocurrency market do offer a way to spread the risk and hedge one’s portfolio.
Although people from the West might not see it, the cryptocurrencies do actually solve problems for citizens of many countries. Here are some issues that could stimulate demand for cryptocurrencies:
1, High inflation: when prices in the shop rise quickly, it could be a good alternative to have some of the cash stored and invested in cryptos.
2, Capital controls: some countries restrict the movement of capital from the country. Bitcoin was for example popular in Argentina, which made transfers difficult.
3, Confiscation of assets: a government is able to stripe away ownership of many assets but not Bitcoin.

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