In the midst of an excess of global liquidity and inflation that continues to show high figures, Bitcoin has positioned itself as a haven of value for investors seeking to protect themselves against loss of purchasing power. This narrative has driven significant flows into the market, further reinforced by the recent legalization of cryptocurrency ETFs, a step that attracted a notable volume of institutional capital.
However, this tide seems to have slowed: Since May, Bticoin has remained in a sideways structure, without recovering the bullish dynamics that many expected.
Can Bitcoin rise as much as gold?
In fact, a look at the graph of the Gold reveals another surprising trend: this metal has surpassed Bitcoin in profitability during the year, challenging the expectation that the cryptocurrency can replicate its historic growth in short periods. According to Oriol Blanch, from Bitvavo, the mystery will be solved in a few months…
Why isn’t Bitcoin going up?
All in all, and especially taking into account that the macro and high inflation seem to favor Bitcoin, what is the reason for the price to remain flat and not rise as much as before? Two keys:
On the one hand, The market is going through a transition process: from an ecosystem dominated by speculators to a more professionalized and long-term oriented one.. In this sense, institutions such as BlackRock, Vanguard Group or JPMorgan, along with governments such as those of El Salvador or Luxembourg, have begun to accumulate strategic positions, attracted by an increasingly regulated and transparent environment, but also, by definition, less volatile.
On the other hand, we have to be clear that investing in cryptocurrency should be thought about in the long term. «It is essential to understand where we come from and where we are going with the price of Bitcoin,» recalls Javier Pastor, CEO of Bit2Me, insisting that patience and historical perspective are key in the world of cryptocurrencies.