Invest Answers tells markets why bitcoin looks great
Invest Answers, one of the most influential voices in the world of finance on YouTube, has just made a bold prediction about bitcoin’s future in March 2023.
Invest Answers, a popular YouTube channel, broadcasted its monthly outlook on Thursday, discussing the performance and behavior of bitcoin and various other cryptocurrencies.
A bright near term view on bitcoin
Invest Answers shared their thoughts on what we can expect from bitcoin in the coming months. According to the YouTube giant, bitcoin is poised for a strong rally in March 2023, showing that the NASDAQ 100 has grown 7% in the past 3 months while bitcoin has risen 49%.
According to Invest Answers, there are several factors that they consider will contribute to this positive prediction.
First, they noted that bitcoin’s adoption rate continues to grow at an impressive pace. More and more businesses are beginning to accept bitcoin as a payment method, and institutional investors are showing a growing interest in cryptocurrency.
Second, Invest Answers believes that the ongoing economic uncertainty and instability caused by the COVID-19 pandemic will continue to drive investors toward bitcoin as a safe haven asset.
With governments around the world printing money to stimulate their economies, investors are increasingly looking for alternative investments that can provide a hedge against inflation.
Finally, Invest Answers pointed to bitcoin’s limited supply as a key factor in its long-term growth potential. With only 21 million bitcoins ever created, the cryptocurrency’s scarcity will likely drive up its value over time, especially compared to the USD and how the Federal Reserve can control the money supply.
The cryptocurrency market is notoriously volatile, and there are many factors that could cause bitcoin’s price to rise or fall in the coming months. Invest Answers’ prediction is certainly an optimistic one, and it’s clear that they believe bitcoin has a bright future ahead.