Despite USD getting an onslaught to stocks, goods and it is rival currencies, Bitcoin (BTC) holds steady in the $19,000 to $20,000 mark, departing mainstream media no choice but to place BTC in to the headlines.
American daily newspaper The Brand New You are able to Occasions highlighted BTC’s 6.5% increase within the last 7 days and noted this had caught the interest of crypto bulls and bears. Meanwhile, Fortune Magazine’s crypto outlet has additionally compared Bitcoin’s standout performance with other assets such as the Japanese yen, Chinese yuan and gold, in addition to the euro and pound.
With fiat currencies such as the euro and also the Great British pound sterling neglecting to hold their ground from the U . s . States dollar (USD), mainstream media outlets have began to place Bitcoin (BTC) in the spotlight because of its steady performance.
However, the press outlet Positive pointed out within their headline that it could be “time to place everything on Bitcoin.” Despite brushing the headline as sarcasm inside the content of this article, the writer highlighted that the majority of institutional investors are searching to place an finish to the present crypto winter.
Meanwhile, the Australian news website news.com.au has highlighted experts speaking positively on Bitcoin and blockchain’s use cases. Some experts even predicted the BTC cost might eventually hit a brand new all-time a lot of $100,000.
Related: Crypto baffles mainstream media, but should blockchain advocates care?
Meanwhile, because the British pound hit a brand new all-time low from the US dollar, Bitcoin’s limited supply may potentially provide an advantage from the pound. Based on the finance site Porkopolis Financial aspects, the issuance rate from the pound continues to be 11.2% yearly since 1970 while BTC includes a rate of just one.7%. This provides BTC a considerably lower supply issuance which may potentially widen the space backward and forward currencies.
Bitcoin’s cost isn’t the only crypto scoop that went to the mainstream media spotlight lately. Earlier in September, mainstream media outlets also take their sights on Ethereum and it is recent transition to some proof-of-stake (PoS) consensus mechanism.
