From Investing.com:

Legendary trader Peter Brandt recently sparked discussions around Bitcoin’s role as a store of value, positing it as a potential bulwark against the erosion of wealth amid economic uncertainties and diminishing purchasing power of fiat currencies. Bitcoin, often referred to as “digital gold,” has emerged as a modern alternative to traditional assets like Gold, with a fixed supply cap of 21 million coins and resistance to censorship making it a prime candidate for preserving value.

Brandt’s macro bias toward Bitcoin stems from its qualities as a decentralized asset that is not subject to government-led monetary policies, ensuring that its value is not diluted by an increasing supply. Critics argue that Bitcoin’s volatility and relatively short history bring its status as a store of value into question, but proponents counter that its decentralized nature and global accessibility outweigh the concerns of short-term price swings.

Bitcoin’s performance has shown growth with substantial fluctuations, reacting to various market stimuli and experiencing significant peaks and troughs. Despite this volatility, the overall trajectory has been upward over multiple years, suggesting an increase in perceived value. The recent price performance shows Bitcoin testing crucial support levels, slipping below the 50-day Exponential Moving Average (EMA) but potentially signaling a consolidation and potential reversal if it holds at the 100 EMA and volume increases.



Read more: Bitcoin ‘Best Store of Value’ By U.Today