The Muso blockchain believes that Bitcoin was truly and widely recognized in 2013, when the world-famous “tax haven” Cyprus broke out in a serious financial crisis. The government imposed a deposit tax on local bank deposit users to obtain an emergency loan of 10 billion euros from the European Union, a move that has made people angry. Some Cypriot people who know tokens rush to the Bitcoin network and exchange all money in their hands for BTC to avoid policy risks; BTC has increased from more than 30 U to 265 U in just a few days, which is nearly ten times higher.
The panic buying triggered by the state crisis of the island nation game led to the skyrocketing of Bitcoin. Many people around the world have noticed the existence of Bitcoin, and they have also seen the potential hedging properties of Bitcoin. However, the Cyprus crisis has allowed more people to understand Bitcoin’s unique characteristics of “out of government control, relatively anonymous, and difficult to track” and regard it as a safe-haven property.
As if to prove this potential, Bitcoin had a relatively strong performance during the subsequent US shutdown crisis in 2013, the Greek sovereign debt crisis in 15 years, and the 16-year Brexit referendum.
Between 2016 and 2018, South Korea and Japan played an important role in promoting the development of Bitcoin transactions. Some South Korean investors buy bitcoins in large quantities to circumvent strict domestic regulations. Due to the strict domestic control, many Koreans choose to invest in hidden names in Japan. It wasn’t until January 2018, with the outflow of funds from Japan’s crypto exchanges and increasingly stringent regulations, that this Bitcoin investment trend cooled down.
Regarding the views of Bitcoin, the government authorities of various countries hold different attitudes, but one thing remains the same: while free economic activities, it is necessary to prevent the use of Bitcoin for money laundering or fraudulent transactions, and to maintain the country’s financial order. At present, the central banks of various countries have adopted large-scale fiscal stimulus measures. The central banks of Japan, Europe and the United States have provided a large amount of funds for the people to purchase government bonds. Part of these funds have flowed to the cryptocurrency trading market represented by Bitcoin, creating another round of buying craze for Bitcoin.
So, buy Bitcoin for hedging or profit purposes? It is a question worth thinking about! However, the high price of US$50,000 is a fact that cannot be ignored. Here is a recommendation for small and medium-sized retail investors, which is the NGK. The price of NGK is generally in the double digits, with unit price of US$1.1 now. You can also receive short positions, as well as the subsequent NGK reward activities. In short, the NGK rate of return is maintained at more than two points a day; while the rise and fall of Bitcoin is unpredictable. Therefore, NGK is an extremely suitable project for small and medium retail investor to get started!
