When Bitcoin (BTC) was launched into the online industry, not many people paid attention to digital assets. At that time, only tech-savvy, computer geeks, and programmers gave attention to it, as they were the only ones who realized its potential.
In the initial phases, the efforts of the miners ensured that Bitcoin (BTC) could exist as an entity so it starts building on its value when it was the right time.
That was when cryptocurrencies started coming into existence and Bitcoin (BTC) continued gaining momentum. The asset was able to gain a decent following and rally on its protocol, which led to Bitcoin (BTC) gaining a lot of prominence in the online trading sector.
Then time went by and Bitcoin’s rally came all the way to the end of the year 2017. That was for the first time in Bitcoin’s history that it had caught the attention of many mainstream institutions. It had managed to create a ripple that slowly traveled and found its way to the mainstream institutions.
After Bitcoin’s downfall in 2017, it again gained prominence towards the end of 2020 and went on to surpass its previous all-time high from 2017.
While many thought that Bitcoin (BTC) would demonstrate the same outcome as it did in 2017, Bitcoin (BTC) has continued to gain rally in terms of its price and market capitalization.
Even if the digital asset experiences a drop in its prices, it soon rebounds and hits another all-time high. The reason why Bitcoin (BTC) is no longer facing the same phenomenon as 2017 is because it is now a the epicenter of the mainstream institutions.
Even the founder of Miller Value Partners, Bill Miller has stated the same thing about the nature of Bitcoin (BTC). Bill Miller, who is also the CIO at the Miller Value Partners has talked about the nature of Bitcoin (BTC).
He stated that in the past 4 years, Bitcoin (BTC) has matured and is no longer the same asset as it was back in 2017. Since 2020, the platform has gained so much rally and investments from mainstream institutions that it is no longer an extremely volatile asset.
It is not a hidden fact that the entire cryptocurrency is perceived as an extremely volatile market. Many investors and mainstream institutions still consider Bitcoin (BTC) a highly volatile digital asset. However, Bitcoin (BTC) is now way ahead of all its counterparts and has established itself as a stable asset.
Bitcoin is now predictable so it is the perfect asset for the mainstream institutions to play in and make huge profits out of it. He added that the old claims of Bitcoin (BTC) being a bubble have no worth and are parallel to be a hoax.