The bitcoin (BTC) rate on Wednesday, August 18, fell to $ 42,200. Experts urge investors not to panic over the cryptocurrency price correction.
Bloomberg strategist Mike McGlone tweeted once again that BTC has enormous potential. If earlier the American dollar was a competitor to gold, now the place of this instrument is taken by bitcoin.
The analyst is confident that no repressive policy of the US authorities will be able to stop the process of introducing digital currency. Bitcoin is the leading driver of global changes in the financial system.
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A similar point of view is shared by Princeton University historian Harold James. According to him, in addition to BTC, the digitalization of the global economy is also accelerated by ether (ETH) and other cryptocurrencies, which are based on blockchain technology.
Anthony Pompliano, one of the brightest supporters of BTC, recently stated that the US dollar and gold are significantly inferior to cryptocurrencies in terms of profitability.
That is why the attractiveness of Bitcoin continues to grow. In the future, the coin will even be able to bypass technology stocks in terms of capital investment.