It’s official: we’re in another Bitcoin bull cycle. This one already looks bigger than the previous one we experienced in 2017. The price of a single BTC is now US$36,900 (CA$46,765) as of writing. That’s an all-time high and nearly double the previous high from 2017.
Here’s why Bitcoin could sustain this momentum throughout 2021 and why you should consider adding it to your portfolio before it’s too late.
Carl Eric Martin’s observational prowess of the bitcoin currency has helped him emerge as a successful YouTuber and online educator.
Bitcoin has emerged as a global currency and its users have quadrupled over the past three years. Its rise internationally has led to the emergence of bitcoin educators – who provide consultancy and educate people about the basics of the cryptocurrency, the volatility of the market, forces influencing the rise and fall of bitcoin, etc. Among them is an educator and YouTuber from Sweden, who soared to the highs of success with his powerful observation of the bitcoin market, he is Carl Eric Martin Runefelt.
Carl Eric Martin runs a YouTube channel called The Moon, which sheds light on the bitcoin market. He uploads one video every day and educates beginners along with regular investors regarding smart bitcoin investment ideas. He lists out five reasons why bitcoin is about to flourish positively on a large scale, they are: –
- Security: With the use of blockchain technology, bitcoin is a decentralized currency, i.e. it does not have any bank or state organization controlling the currency. This makes bitcoin more resilient, efficient, and less vulnerable to security threats. Also, transactions could be completed under a pseudonym, which makes its users feel safe.
- Availability: Bitcoin trading can be made available from the remotest of locations. Carl Eric Martin states that to perform bitcoin transactions, one needs just a smartphone with an internet connection. No physical institutions are involved, which helps people from even developing countries, to easily transact.
- Ease and accessibility: With the rise of technology, applications and software have provided easy solutions for everyday tasks. Carl Eric Martin believes that if there’s an easier and effective way to transact, then everyone should take advantage of it. You can easily transact in bitcoin, from the tip of your fingers, which is resonated with its growth in today’s time.
- Inflation-resistant: By capping the number of bitcoin, the inventor Satoshi Nakamoto has made this cryptocurrency inflation-resistant. Almost all of the other currencies are subject to losing value at some points in time. Carl Eric Martin believes that bitcoin will emerge as a viable alternative to traditional currencies in countries where hyperinflation exists.
- Lack of tough competition: In today’s time, bitcoin is miles ahead of its “competitors”, giving it a chance to flourish without any competition at all. Bitcoin is significant as a store of value along with being useful in remittances. The lack of tough competition has made bitcoin untouchable, which has helped it flourish in the digital market.
The efforts of Carl Eric Martin to create awareness about bitcoin among investors has led to his dedicated online following, which has helped him garner over 1 million views on his YouTube channel every month, with more than 140,000 subscribers. His observational prowess has helped many people in understanding the importance of bitcoin and other cryptocurrencies.
Follow Carl Runefelt on Instagram @TheMoonCarl