• Bitcoin has seen a resurgence in the past few months, being once again viewed as a “safe haven” asset.
• The digital asset lost more than 70% of its value by the end of 2022 after hitting a new all-time high.
• Crypto industry experts have expressed their optimism for BTC and ETH’s growth in the future.
Bitcoin Is Again Viewed as a „Safe Haven“
Bitcoin – the world’s number one cryptocurrency by market cap – has had an impressive couple of months, leading many to once again view it as a „safe haven“. This was not occurring in 2022, when bitcoin suffered from losses exceeding 70% of its overall value after reaching an all-time high of around $68,000 per unit.
Crypto Industry Optimism
Amidst this upsurge, various crypto experts have voiced their optimism regarding the future performance of Bitcoin (BTC) and Ethereum (ETH). Azra Kojadinovic – president of the Serbia Chapter – commented that BTC’s long-term outlook remains positive due to increased adoption and ETH’s popularity as a platform for decentralized applications driving its growth. Whitney Setiawan – research analyst at crypto exchange Bitrue – echoed this sentiment while Jenny Zheng – BD lead at ByBit – noted that with many companies now willing to accept crypto payments, these assets will see their values surge in the future.
Previous Crypto Market Struggles
The previous year was one of immense struggle for cryptocurrencies overall, with Bitcoin losing more than $2 trillion in market valuation due to other assets following its lead. Many people were left severely down and out after such drastic losses over such a short period of time.
Positive Rebound from Losses
However, since then we have seen Bitcoin rebound positively and reach heights not achieved since six months ago when it hit $25K. Coupled with more stores accepting it as payment method and individuals returning BTC to its rightful “safe haven” status in their minds, there is much cause for celebration within the crypto space currently .
Overall, it appears that bitcoin is making strides towards becoming once again viewed as a “safe haven” asset amongst investors and traders alike. With numerous industry experts predicting notable growth in both BTC and ETH over time due to increased adoption rates across different sectors – there is potential for even greater success ahead!