The price of Bitcoin fluctuates frequently and unpredictably. Because of this, the price of Bitcoin has the potential to rise rapidly for a short period of time before falling. While Bitcoin investors may not be aware of the price drop, they are part of Bitcoin’s greater volatility.
At the beginning of the year, the price of Bitcoin fell sharply, and it was only shortly after that it peaked at the end of last year. BTC is currently trading around $24,000.
Even though BTC is down nearly 60% from its peak, well-known macro strategist Lyn Alden says she remains bullish on the long-term outlook for the cryptocurrency. According to Alden, who spoke with market analyst Alessio Rastani, she is looking at the broader picture and recognizes the importance of Bitcoin in a macro environment.
Long-term bullish on Bitcoin
“Basically, it’s time to focus on what’s real, what’s being built, what’s being solved, especially when you look globally — the whole world, especially Developing markets — and seeing what’s wrong with the monetary system? What’s going on with inflation, what’s going on with authoritarian states or frozen bank accounts and all sorts of things like that, what technologies actually work for them?
Alden added that in addition to Bitcoin’s premise, investors should also pay attention to BTC’s Fundamentals appear to be positive from a macro perspective.
She thinks controlling position sizing before focusing on the fundamentals, despite common assumptions, does exist.
She explained that one can look at what’s going on from a developmental perspective: what’s going on with the Lightning Network, what’s going on with the various wallets and ecosystems around the entire space, what’s going on with adoption in specific developing markets.
Alden also believes that there are multiple ways to analyze the market for context.
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Qadir AK
Qadir Ak is the founder of Coinpedia. He has over a decade of technical writing experience and has been covering the blockchain and cryptocurrency space since 2010. He also interviewed crypto Some well-known experts in the currency field.
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