Berlin is Exuding Extreme Bitcoin Price Bullishness Despite Bear Market Conditions
The Bullishness Could Have Blinded the Berlin Bitcoin Brigade
Like any other market around the globe, the viscous volatility of the Bitcoin has made it be an outcast of the German market. Additionally, with the mad dash of investments that happened in 2017 bull run went ahead to alarm the different regulators who are around the globe. But in all this, it seems that Berlin Stands out to be the exception.
Berlin has a group of very young plus tech-savvy entrepreneurs who are not that bothered by the short time price woes that have taken place around the Bitcoin over the years.
They Are Going Against the Current Grain
Ola Scholz, who is the German Prime minister, firmly believes that the digital currencies will not be in a position to supplant the dominance that the fiat currency has. However, the Berlin investors have remained unfazed by all this, leading to a group of crypto zealots each month converging in Room 77 to enjoy a communal meal, one which involves burgers, beers and some bitcoin banter.
The Room 77 has accepted to have Bitcoin payments since the year 2011, and at the moment it stands as one of the very first bars that have been accepting crypto coins. The founder of the German Bitcoin Foundation, Jeff Gallas, has gone ahead to explain that it is just a social gathering; therefore, there is no agenda taking place, but just a group of people who come together and talk about Bitcoin.
According to him, the magic that Bitcoin has been able to offer the market strongly lies on the capacity for each individual in dislodging themselves on relying on the banking dinosaurs, and instead, they become their own kind of bank.
Cryptocurrencies are designed with a peer to peer nature, which could be a factor that has been able to drive the Berlin Bitcoin Loyalists. Gallas also believes that the optimism and excitement that is witnessed in the German Bitcoin Foundation will go on reaming strong. As the members of the foundation are looking ahead, they are focused on how the crypto market will be able to shake up the current financial system.
Anarchy and The Crypto is This a Match Made in Heaven?
Another Bitcoin zealot in the market is Joe Charles Worth; he is drawn to Berlin because of what he describes to be an anarchist culture that is able to fit well with the very earlier version of the crypto. He hails from the UK, just before his move to Berlin about three months ago he was working in a venture capital firm.
When he arrived in Berlin, he founded the PredictionVC, which is a firm he established to help the different crypto investors in the market to make profitable and wiser decisions. An interesting fact that most people might now know is that Germany does not apply any tax when you use Bitcoin when making a purchase.
However, this is not encouraging the several Berlin holders to part ways with their coins, but it has been able to add some level of validity to the idea that the currency can function alongside the traditional currencies in the market.
There Is an Undying Optimism
In 2018 there was a bear market plus the volatility in the Bitcoin, but this did not stop the Berlin supporters as they continued to believe the digital currencies will soon dominate the future of the financial systems. A concept that the rest of the world will need to catch on very soon, the price volatility of the coins should not worry investors as the potential of the currency is more rewarding.