Poll: Bitcoin Saga 🤔

This week we asked the Invstr Community how they felt about Bitcoin’s price and where they thought it would go this year. In case you’re not too familiar with cryptocurrency, Bitcoin is the first cryptocurrency built using blockchain technology. You can use Bitcoin to buy products and services, however, most places do not accept Bitcoin and some countries have even banned it altogether.

The Invstr community seems to be in a large agreement with where Bitcoin is heading this year, with a whopping 51% of the community saying Bitcoin still has way more room for growth. This could very well be true, with Bitcoin seeing growth on the annual timeframe over the past few years. Moreover, because the crypto space has started to fill with startups and new tokens, the amount of investment into “OG” tokens like Bitcoin and Ethereum could increase. In the world of crypto, Bitcoin is the original, and is therefore viewed like “digital gold.”

The next most common response from the Invstr community is that Bitcoin may see some growth but not due to inflation. This response is quite thoughtful and accounts for factors like inflation, however, an alternative way to look at the situation is that crypto could see a rise when inflation occurs, since fundamentally, its value is not that of an inflated fiat currency.

Lastly, around 16% and 15% of Invstr’s respectively believe Bitcoin has peaked as of late or don’t know where the price is going. The former group could very well have a compelling argument, given the fact that in 2017 Bitcoin peaked before entering a crypto “winter”. The latter group is also a safe bet to take, with crypto markets not only being random and unpredictable, but volatile. Thanks for reading this week’s poll, Invstrs!

The Invstr Team 🙂

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Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

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