The bitcoin price is stable for the time being today, the value has increased slightly by 0.3%. Investment Strategist Lynn Alden explains why she is bullish on bitcoin’s long-term outlook despite today’s dull price.
Bitcoin price stable today
Bitcoin is currently traded for 21,150 euros on Bitvavo. Friday to Saturday there was a big drop, but since then bitcoin is worth about 21,000 euros.
Lyn Alden became interviewed by Alessio Rastani and says now is the time to focus on “what is real, what is being built.”
Bitcoin is global
She notes that investors need to take a global stance on Bitcoin’s progress, including emerging markets, and the myriad problems with monetary systems worldwide. “What happens to inflation, what happens to authoritarian countries or frozen bank accounts and things like that, and what technologies can really be useful for that?”
Bitcoin Emerging Markets Acceptance
The strategist is “structurally bullish in the long term” and believes Bitcoin’s fundamentals are positive. The investment strategist looks at the development of Bitcoin as an indication of the fundamentals. She says the Lightning Network, emerging market adoption and other on-chain indicators give a greater value signal than the bitcoin price.
From her point of view, she believes there were “different ways” to analyze the crypto market. This allows her to make different bitcoin analyzes than others, by sharing a snapshot of “what goes on under the hood.”
Stablecoins via Bitcoin network
Alden say that stablecoins can play a role in certain countries to dampen the inflation of fiat currencies and emerging markets through the volatility of fiat currencies. Stablecoins are useful in countries where the currency has higher inflation than in the US, for example Argentina. It gives people an option to save for the medium term’.
She talked about Lightning Labs’ Taro protocol, which enables the cheap transfer of dollars on the bitcoin network.
“That’s why I also think there are cool things like Taro on Lighting that could potentially bring stablecoins to Bitcoin. Bitcoin is simply becoming the most efficient network for trading those dollars because it’s less about pure decentralization and more about giving people access to dollars.”