Why is Bitcoin up and down (why does Bitcoin continue to rise)
Why is Bitcoin up and down? Why is Bitcoin up and down In the past few days, many interesting things have happened in the coin circle. For example, when a new project is launched, it begins to crazily pull shares, and counterfeit coins explode. But these are all ridiculous things. The most lively topic during this period is – “Is BTC worth buying?” The price of Bitcoin has skyrocketed by over 30% (according to Bitcoin. com). At this point, many people may wonder, “If someone really believes what we know now is correct? So the question arises, how can I possibly believe our answer?” For those who want to learn more, “Is Bitcoin worth buying?” is actually a very reasonable question. Is Bitcoin going to become a currency? Isn’t it? In fact, the main reason for the rise in Bitcoin prices is due to institutional investors entering the market to purchase Bitcoin; On the other hand, due to Bitcoin itself being a digital asset and its high volatility. So theoretically, it can be seen as a virtual commodity. But in reality, that’s not the case. People believe that this is because Bitcoin has no inherent value support, but its essence is a speculative market, just as a tool for speculation. Why does Bitcoin rise and fall? Why does Bitcoin require investment? Firstly, we need to understand what Bitcoin is and what it is used for trading and storage. In other words, when Bitcoin reaches a certain level, it means that it has held Bitcoin or similar Cryptocurrency. Secondly, everyone knows that although Bitcoin is decentralized and has unlimited development potential, it cannot be effectively circulated to maintain value in most cases. Of course, some people also say that this statement is inaccurate or even misleading, which is why many investment funds are paying attention to Bitcoin. Finally, the most important thing is to let everyone have a comprehensive understanding of Bitcoin, understand what blockchain is, and how to use Cryptography to ensure its security
Why does Bitcoin continue to rise
According to CCN, why does Bitcoin continue to rise? In the past month, as the global economy plunged into Hyperinflation and the U.S. Dollar Index continued to decline, the market’s demand for Cryptocurrency was rising. The price of Bitcoin has been rising since the beginning of this year. As of the time of publication, the BTC price was 47000 points. From historical data, from December 2017 to the end of February 2018, Bitcoin experienced three significant declines (two in 2015). From the end of 2017 to the first quarter of 2019, Bitcoin experienced a strong rebound and reached the peak of the bull market at the end of 2017; At the same time, Bitcoin has also entered a new one-year cycle: breaking the high of $10000 for the first time since 2013 and setting a record again after 2016. There are two types of returns that have exceeded 30% since the second quarter of 2020. One is the pullback that occurred after the halving in mid May 2017, and the other is the increase in investor interest caused by market volatility and recent changes in market sentiment in recent quarters.
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