Are we facing a Bitcoin and Ethereum Bullrun?Today we are dealing with the question, will the Bitcoin and Ethereum price rally continue? Are Bitcoin and Ethereum a good investment?
Bitcoin and Ethereum are the most famous and longest established cryptocurrencies. While Bitcoin has dominated the discussion about cryptocurrencies for years, Ethereum established itself a few years ago as a progressive and promising blockchain with its own cryptocurrency. Bitcoin is clearly number 1 of the largest cryptocurrency by market capitalization, Ethereum clearly the number 2.
But many beginners and advanced users in the crypto sector are asking themselves is a Bitcoin Bullrun coming
“Is it worth investing in BTC and ETH now?”
To answer these questions we have to look at what is happening globally.
Let's start with Bitcoin (BTC) and why I think that we are at the beginning of a long bitcoin bullrun.
After the US dollar recently fell to a new 2-year low, investors are increasingly fleeing to safe asset classes such as gold, silver, and also Bitcoin (BTC). After overcoming the $ 10,000 mark, the Bitcoin (BTC) also tackled the $ 11,000 mark and is thus about 53% up year-on-year.Bitcoin is now allowed in China? Photo by zhang kaiyv on Unsplash
China is turning 180 degrees and is now more positive about Bitcoin (BTC). The Beijing Arbitration Commission (BAC) points out that Bitcoin and cryptocurrencies are not completely banned in the Middle Kingdom.
The commission explains that although cryptocurrencies are not legally recognized as money in China, the law in China regards cryptocurrencies as a virtual good or raw material.
China wants to push blockchain technology and, above all, its digital yuan further. The state cryptocurrency has already been tested in four major cities (Shenzhen, Chengdu, Suzhou, and Xiongan). I expect the digital yuan will officially come out in 2021.<...