Bitcoin price: Interspersed increases and decreases
Early this morning (October 8), Bitcoin - the world's largest cryptocurrency by market value increased and decreased "dizzily", reaching 121,638.44 USD, down 2.65%.
The new price level contributed to the market capitalization reaching 2,424 billion USD, down 185 billion USD. Bitcoin continued to reverse after recording a record high exceeding 125,000 USD last weekend, showing market volatility.
Assessment and forecast
Deutsche Bank economists believe that Bitcoin could become part of the central bank accounting balance sheet by 2030, similar to gold, as its role as a reserve asset is increasingly strong.
In addition to concerns about the volatility of the world's largest cryptocurrency, legality but liquidity are increasing. This is believed to be due to limited supply, diversified benefits and the ability to prevent inflationary and geopolitical risks. The acceptance of Bitcoin, led by the United States, could help the currency overcome its current status as a speculative asset.
Farzam Ehsani, CEO of VALR, said the US government shutdown contributes to making Bitcoin a safe haven asset, causing investors to shift away from US-related assets to assets considered more sustainable due to inflationary pressures and political instability.
Head of Investment at Hashdex, Mr. Samir kerbage, predicted that the next wave in cryptocurrency application will come from accepting stablecoin, which will be very positive for the virtual currency market within the next 6 months to 1 year.
In Vietnam, Bitcoin and other cryptocurrencies are not recognized as legal payment methods and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
