Bitcoin has now entered its fifth bull market, according to Matrixport, the leading digital assets financial services platform, with its price recently tapping $35,000 again.
More recently, the decentralized finance and NFT crazes have also proved to be catalysts for BTC’s bullishness. Though Bitcoin is still down 50% against the US dollar, when valued in local currencies in countries undergoing economic turmoil, this illustrates the coin’s value as an inflation hedge. This reinforces the points raised by Matrixport that we are in a bull market driven by the recognition of Bitcoin’s potential as an inflation hedge.
However, this discounted price is only available for one more day, after which it will increase by 10%.
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