Bitcoin has been the gold standard for cryptocurrency since its launch in 2009. Some crypto enthusiasts believe that BTC will become even more valuable than gold in the future.
If you have NAV — a digital coin for fast and safe transactions, swapping it for Bitcoin could be a smart move. In this article, you will learn about the current market trends and why converting NAV to BTC might be a good idea.
What’s Going on in the Market?
The market has been bearish for several months. It has been attributed to the fall in the value of Bitcoin (BTC). Investors can expect further fluctuations in BTC price as there are many factors affecting it like regulatory changes and the ongoing war in Ukraine.
As of today, BTC is traded at around $22,000. Its market cap stands at a little over $421 billion with a daily trading volume of $29.5 billion. Bitcoin’s circulating supply is at 91% on its way to reading a max supply of 21 million BTC.
The cost of mining Bitcoin dropped from around $24,000 to $13,000 as estimated by JPMorgan. It will have a positive effect on the BTC price as more miners are expected to enter the market and add liquidity to it. Even if BTC doesn’t recover immediately, it’s still worth investing in. Many investors swapped their BTC to ETN, worrying about their profits, but we don’t recommend you to hurry.
How Is NAV Doing?
Navcoin is an open-source digital currency with privacy-enhanced features. Its transactions are made in a peer-to-peer fashion with no intermediaries. NAV was developed in 2014. The project had no pre-mine or ICO.
NAV uses advanced cryptographic methods to enable decentralized mixing of transactions. It means that users can send funds anonymously by routing their transactions through multiple addresses owned by NAV holders. Thus, no one can trace where the funds came from or where they’re going — except for you and the people you send them to.
With a market cap of $9.5 million, NAV takes 770th place in the crypto market. NAV’s first major bull run was in January 2018 when its price reached its all-time high of $4.7. However, the NAV price plummeted to the mark of $1.1 in less than a month. Since then, Navcoin wasn’t able to break the $1 barrier with the closest attempt of $0.94 in March 2021.
As of today, NAV is in the bear market and is traded at around $0.13. Its price has been in an uptrend for the past month. The reason for that might be Nascoin’s plans to create a social mining platform and future integration with the popular BTCPay Server.
According to the NAV price prediction analysis done by Digitalcoinprice, its price can reach $0.18 by the end of 2022. Crypto trading experts at Priceprediction believe that NAV can break $1 and will be traded for $1.37 by 2030.
Reasons to Buy BTC with Your NAV
There are numerous reasons to invest in Bitcoin. The main reason is that BTC is the most popular crypto on the market with the largest market cap. It means lots of people invested in the coin, and it won’t lose its value overnight.
Bitcoin’s annual inflation rate is 1.8% and is one of the smallest in the crypto market. The max supply of BTC implements that once Bitcoin reaches it, the inflation rates will stand at 0%. It will significantly boost the BTC price.
BTC had its ups and downs. If you look at its price from 10 years ago and compare it with its current price, you’ll find out that there is no other crypto that gained so much value over time.
NAV, with its privacy features, is an ideal pair for BTC. You can use Navcoin and reinvest your tokens in BTC anonymously with the highest level of security. Furthermore, NAV’s integration with BTCPay will make trading it for BTC more profitable.