In a crisis, the doubters always come out and criticize Bitcoin and the crypto market in general. No sustainability, lack of regulation, no “real” value – these criticisms come up again and again. But what are the good reasons that Bitcoin can once again recover from a major crisis? Let’s see the top 3 reasons why Bitcoin price is down.
1. The “Fundamentals” of Bitcoin
Whether we are in crisis or not, Bitcoin has a fundamental structure that does not change. In total, only 21 million Bitcoin can be “created”. The last millions are taking longer and longer due to increasingly difficult mining. Bitcoin thus has limited supply and a built-in deflationary structure.
This should increase the value of bitcoin in the future if the demand for bitcoin does not collapse completely. Due to the enormous growth potential, this is very unlikely. According to this, the Bitcoin value should continue to rise in the future, while FIAT currencies become worthless due to inflation.
2. Blockchain technology is still in its infancy
Contrary to popular belief, the potential of blockchain technology is still far from exhausted. We only have to look at the first years and decades of the Internet. A certain technology develops slowly at first and stronger first after years western. We’re talking about exponential growth in the future.
This decade could be the time when blockchain technology enters mainstream and public life. So far, use cases are still very limited. With the exponential growth of use cases in the future, the increase in value of the Bitcoin course and other coins may also be huge.
3. Established Cycles
In recent years, doubts have repeatedly arisen as to whether the Bitcoin price can recover in the years to come. But meanwhile, the cycles of Bitcoin have become so well established that it seems almost certain that we should see massive gains in bitcoin again in the next 2-3 years.
If we compare the last few cycles, we can see that the Bitcoin price is currently behaving extremely similarly to the price development in the last bear market. It is therefore likely that in 2023 we will see a stronger increase in prices again, as was the case 4 years ago in 2019.
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