Citi analysts announced in their new report for Bitcoin that it has reached a “breaking point”. Bitcoin is expected to either grow rapidly or ‘boom’ after this process.
The Bitcoin market has been shaped by the behavior of the individual investor over the years. This situation started to change with the introduction of names such as Tesla and Mastercard.
The Citi team, which includes names such as Sandy Kaul and Richard Webley, took these developments into consideration and prepared a new analysis report.
The ‘breaking point’ has been reached
Citi analysts, when examining Bitcoin’s performance from the past to the present, stated that it is now at a breaking point. According to Reuters news, bitcoin will become the standard currency of international trade transactions at the end of this process; or there will be an ‘boom’ due to growing speculation in the market.
“Bitcoin may be the preferred currency in world trade. Because it is immune to changing monetary policies, it does not require foreign exchange transactions, it can perform transactions almost instantaneously and eliminates the worry of transaction cancellation. ”
It is thought that if more people and businesses use digital wallets, the use of Bitcoin for commercial purposes may become widespread. According to the Citi team, being global, easily trackable and used quickly can make Bitcoin a practical tool. The following statement was included in the prepared report:
“There are too many risks and obstacles for Bitcoin. But when we compare these hurdles with the opportunities ahead of Bitcoin, we see that it is at a breaking point. “