Business & Investment

Bitcoin: Has it reached an inflection point?

Cryptocurrency bulls are worried in 2021 as Bitcoin is underperforming its stocks again.However, some market observers have historically been in July. Cryptographic investor.. Despite the recent collapse, crypto seems to have reached a decisive moment, if not an inflection point. Will big changes come to space, positive or negative?

Potential inflection point

In addition to its volatility Government action, Banning crypto trading and mining, introducing regulatory changes, etc., can lead to negative inflection points. Carsten Murawski, a professor of finance at the University of Melbourne, Australia, says authorities want to control digital currencies.

Similarly, central banks see cryptocurrencies as a threat to financial stability. He added that they do not want parallel currencies to float. For Fidelity’s Tom Jessop, the pandemic has been a catalyst for broader acceptance or adoption. He said there is an acceleration of institutions that study and evaluate the crypto universe. They could soon move to make digital assets operational.

As we are still in the early stages, uncertainty persists, BTC is unstable and very risky.For now, alternative investments are crypto, blockchain, or Technology stock.. It may reflect Bitcoin fluctuations, but TSX assets are safer.

Top Bitcoin Minor

Hat 8 mining (TSXV: HUT)(NASDAQ: HUT) The company is engaged in Bitcoin mining, so it is probably the best choice. Cryptocurrencies are also cross-listed on the US Stock Exchange. Prices rose to $ 11.09 in mid-March 2021, but current investors are $ 6.04 per share, up 73% year-to-date.

The $ 860.77 company is proud to be one of the oldest, largest and innovation-focused digital asset mining pioneers in North America. Apart from Bitcoin mining, Hut 8’s executive team has deep experience in blockchain, software, investment banking, venture capital and government.

Hut 8’s diverse mobile production platforms are located in Alberta (Medicine Hat and Drumheller), ensuring low-cost power contracts. Business growth given the record quarterly sales of $ 32.5 million in the first quarter of 2021 (the quarter ended March 31, 2020), or 156% compared to the first quarter of 2020. Is clear.

Blockchain Super Growth Wave

HIVE blockchain technology (TSXV: HIVE) Like BTC, it got off to an explosive start in 2021. From $ 2.50 on January 4, 2021, the price on February 19, 2021 rose 172% to $ 6.80. Like the real cryptocurrencies, the rally didn’t last. As of July 9, 2021, HIVE is trading at $ 3.11 per share.

The advantage of the starting lineup belongs to HIVE. The $ 1.25 billion company is a pure blockchain investment. As a blockchain infrastructure company, our goal is to bridge blockchain and cryptocurrencies to traditional capital markets. In addition, HIVE’s working capital requirements are low. You can strategically sell mined coins to maximize your profits.

HIVE believes that Ethereum, not BTC, will continue to be the backbone of this new financial ecosystem. Management expects to ride the wave of blockchain super-growth through Ethereum. They want investors to know that this crypto is built by significantly more developers than any other blockchain platform.

The gateway to the world of new technology

Fidelity’s Jessop believes that Bitcoin is the gateway to a new world of technology. This is mainly because there are more use cases. This has the potential to become a new operating system for financial services. It has the potential to move value more efficiently and automatedly on Earth. There are certain features that traditional frameworks cannot.

This article represents the opinion of a writer who may disagree with the “official” recommendation position of the Motley Fool Premium Services or Advisors. We are Motley! Asking investment treatises, even our own treatises, can help you think critically about your investment and make decisions to be smarter, happier, and richer. As a result, we may publish articles that may not match recommendations, rankings, or other content. ..

Stupid contributor Christopher Liu There are no positions in any of the listed stocks. The Motley Fool does not have a position in any of the listed stocks.

Bitcoin: Has it reached an inflection point? Bitcoin: Has it reached an inflection point?

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