Bitcoin is back with a bang! While people are debating over its value, intelligent people are enthusiastically investing in it. The value of Bitcoin has soared from USD 5,000 to a whopping USD 47,000. That’s are staggering 700% increase since the pandemic was first declared in March last year.
While the fiat currencies of numerous countries around the globe have been adversely affected by the coronavirus pandemic, the price of Bitcoin is increasing to newer levels. People are actively debating over its value. While some people believe the extra printing of the US Dollar to be the reason behind this heavy increase, others claim China to be pulling some strings here.
In 9 March 2020, the total dollar supply increased to over $4 trillion from just $273.4 billion in 1975. From 9 March 2020, the total US dollar supply increased from $4 trillion to over $6.5 trillion on November 30, 2020. This was done all due to the coronavirus related stimulus bills. And thanks to Richard Nixon who removed the gold standard in 1971, the printing of US dollars will see no stopping in the years ahead. On the other hand, people believe the Chinese billionaires to be buying Bitcoin in great numbers as they see that the excessive printing of the US dollar will lead to its downfall.
Despite all this, one thing is for certain. The increasing price of Bitcoin has shown that cryptos are stronger than COVID-19 pandemic situation and it can very well turn out to be the currency of the future. People investing in cryptocurrencies today are very intelligent as they have recognized their true potential. Even though many cryptos are not as usable as DDKoin, their stability in these turbulent times have shown their true strength to everyone.
Speaking of DDKoin which used the DPOS technology, it’s one of the few cryptos that supports micro transactions and perhaps the only crypto out there that has its own dedicated ecommerce platform. Yes, DDK Merchant allows people to buy and sell everyday items using DDKoin. Many merchants have already signed up and are featuring their products and services on DDK Merchant and loads of people are benefiting from it. You can check this link for more info ddkoinblockchain.com/ddk/merchant
Investors must remember that bitcoin is just a 12-year-old cryptocurrency. This cryptocurrency was just at USD 1,000 at the start of 2017 but it came close to $20,000 within 12 months. Although it crashed to about $3,000 in early 2018, today it touches $40,000. Thanks to Grayscale getting its Bitcoin Trust exchange-traded fund, Bitcoin’s market cap has hit a trillion dollars. While fiats can be printed, cryptos come with caps and this makes them even more reliable.
People buying cryptos such as DDKoin are doing themselves a great favor as cryptos are the currency of the future and that future is not too far away. If you haven’t got a crypto wallet or some crypto tokens on you, you need to get one as soon as possible. We’d recommend you the DDK wallet as it has many new features that can help you a lot in your trading activities. Invest wisely, invest in cryptos!