In the midst of a crisis, Bitcoin shows its superiority on Wall Street.
Whether you are a Bitcoin follower, an investor in one, or a puncher attentive to the slightest thrill of Wall Street, the week we have just lived will forever be remembered. In a few decades, I even bet that it will have a special place in story books. Everyone will remember that it was during this week, which started on March 9, 2020, that the great economic crisis expected for years started finally.
Much newer than gold or the stock market, Bitcoin is nonetheless a liquid market par excellence.
Bitcoin was therefore strongly impacted by this generalized panic linked to the spread of the coronavirus, and to the risks of shutdown of the main world economies.
The fall had started on March 8, 2020 for Bitcoin. It then accelerated during the week with a real panic on March 12, 2020 seeing the price of Bitcoin collapse from $ 8,000 to $ 3,800.
In a few hours, Bitcoin lost 50% of its price, before rebounding to see its price increase by + 50%. This very strong rebound in the price of Bitcoin is an excellent choice for the future, and proof that the confidence around Bitcoin remains intact.
If you are like me, you should ask the following question:
Is the functioning of Wall Street really that of a free market as described by the doctrines of capitalism?
The answer is clearly no. Wall Street actually acts rather to protect the interests of the powerful at the head of the system.
Let's compare for a moment with Bitcoin. Bitcoin works 365 days a year, 7 days a week, and 24 hours a day. This is already the first major difference with Wall Street and the other financial markets.
When the price of Bitcoin lost 50% in a few hours on March 12, 2020, the exchanges were never interrupted.
Participants in the Bitcoin market were able to freely trade their Bitcoins in order to find a break-even price. This breakeven price was finally found around $ 5,000 after an environmental increase of 30% in the price of Bitcoin from its lowest point a few hours earlier.
SOURCE : https://www.thecointribune.com/actualites/en-pleine-crise-bitcoin-montre-sa-superiorite-sur-wall-street/