Bitcoin will be an alternative to gold in the near future
After the collapse of bitcoin in March last year, the virtual currency recovered what it lost and even managed to set a new record price, surpassing the $35,000 threshold for bitcoin,making the virtual financial market rise and become influential with a total capital of more than $640 billion.
Morgan Creek’s financial expert and managing director Mark Yusco told The Fino Abzor website that the unprecedented rise of the virtual currency is attracting investors who see the currency as an encouraging alternative to paper money to gold.
READ ALSO : The obstacles that Joe Biden faces before his inauguration as President of the United States of America
Investors usually buy gold in crisis to compensate for their losses or to save their financial fortunes through gold, but what is striking in recent times is investors’ openness to virtual financial markets by buying bitcoins rising but with extreme caution being no more hypothetical.
Reasons for Bitcoin’s Growth:
The main reason for bitcoin’s price growth is that the dollar has fallen to its lowest level in years compared to other currencies in the world. Analysts suggest that the US dollar will be in a weak phase in 2021.
According to analysts and experts, the weakening of the US dollar is linked to the spread of the new coronavirus in the world, so the currency market is linked to the future of hiv vaccination in the world and the outcome.