It is no longer news that we were in a bear and the market is starting to recover. Whenever the market turns around and goes bullish, usually Bitcoin is the first cryptocurrency to lead the way. There are some reasons that people continue to invest in Bitcoin and that is because Bitcoin is the first moving crypto, it was one of the first cryptos within the space, and it is top leading in terms of market cap. Whenever becomes more volatile, it is still the one that level the way and takes a little bit less of a hit than we have seen with other Altcoins. The proof is in the putting, that is the chain for Bitcoin wherein the previous market cycle, although it might have fallen, it always continues to pick itself up and to dust kneels off goods.
In recent developments with these cryptocurrencies are labeled both a commodity by the CFCT and the SEC. Right now, we are seeing banks shutting down, and just a few months back, we saw the case of the Silicon Valley bank eventually getting billed out by the Federal Reserve. Bitcoin was created as an alternative to traditional banking after the 2008 financial crisis and to add just a problem with traditional fiat currency like inflation, government control, privacy, and banking out a bank that was too over leverage. I amaze me that even though times like this, Bitcoin has not currently doubled the price that is right now.
Everything that is happening within the economy, the US dollar getting weak, and just how ridiculous it is the government continues printing money. There is still a huge amount of tax and that fact people don't look at Bitcoin as that solution, even though that's what it was created for. It is only even 15 years since the 2008 financial crash and already we are watching another paint banking crisis unfold right beneath us. I believe that this is one of the reasons why government agencies like the SEC and CFCT are doing everything they can to discredit cryptocurrencies and put a bad reputation within the space.
