03.04.202217:22 Forex Analysis & Reviews: Apple may recognize Bitcoin on April 6!

As we have already figured out in previous articles, there are no fundamental reasons for the growth of the first cryptocurrency in the world right now. Almost all factors are now against it, but there are still a couple of factors that can support it. Theoretically. The information appeared on the Internet this week that Apple is going to present an "information bomb" at the upcoming Bitcoin-2022 conference, which will be held on April 6. It is expected that Apple, together with Strike, may allow access to the use of bitcoin through its ApplePay service. If this happens, then bitcoin can get a huge boost for new growth, so it will be a breakthrough for the cryptocurrency segment. However, there are a few "buts". First, two years ago, Elon Musk's company Tesla already made a similar decision, allowing them to buy their cars for bitcoins. This permission lasted a month, after which this feature was removed. Second, these are just rumors that the Internet is full of at all times. Third, Apple has repeatedly stated earlier that it is not going to integrate its services with cryptocurrencies.

Thus, the Bitcoin-2022 event itself can be very interesting, but everything can be done without sensations. A year earlier, at a similar conference, Salvadoran President Nayib Bukele announced the recognition of bitcoin as a legitimate means of payment in the country. This is good news for cryptocurrencies, but now, after a year, we can safely say that the experiment has failed. After all, only 16% of Salvadorans have used or are using bitcoin in settlements. The absolute majority of the population did not find any practical use in it and do not understand why to use an incomprehensible bitcoin with its ever-jumping rate when there is the US dollar (which is also a state monetary unit). Thus, the integration of bitcoin into an entire country turned out to be unsuccessful and shows that the absolute majority of ordinary citizens of any country do not see the difference between electronic money (Visa, Mastercard) and bitcoin. But they see the difference between a stable currency and an unstable cryptocurrency. From our point of view, many citizens of other countries hold about the same opinion.

Bitcoin has long been a toy for the rich, a kind of investment tool that can give super-profits, but at the same time is inaccessible to many ordinary people. After all, at the moment 1 bitcoin coin costs almost $ 50,000. How many people can afford to buy it? If many other cryptocurrencies are much cheaper and have much greater growth potential than the classic "bitcoin"? Thus, we believe that the popularization of bitcoin is coming to an end. Now it can grow only because of the demand for it from wealthy investors or investment funds. However, as practice shows, in the same States, about 80% of millionaires and billionaires are people over 60 years old. It's not that they don't understand modern technologies, they rather shy away from them. As Warren Buffett said, you need to invest where you understand. For many of them, it is unclear how a piece of useless code can cost tens of thousands of dollars.