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Why did Bitcoin rise so much (Why did Bitcoin rise so much)?

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Why did Bitcoin rise so much? Why did Bitcoin rise so much?According to Bloombe

Why did Bitcoin rise so much (Why did Bitcoin rise so much)?

Why did Bitcoin rise so much? Why did Bitcoin rise so much?

According to Bloomberg, the Chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, said, “Cryptocurrency is not a financial instrument. I believe that encryption is an investment and payment method.” However, some people point out that Bitcoin’s market value is not enough to sustain its value because it has lost its status as an asset class. Now, more and more analysts are pushing Bitcoin’s price to new heights. Why is the story behind Bitcoin so important? Let’s take a look together:

1. Why did the price of Bitcoin rise so high?

1. There are three reasons for the rise in the price of Bitcoin. First, people are unwilling to accept Bitcoin as payment when purchasing. Second, as time goes by, more and more people are buying and using Bitcoin as collateral to hold Bitcoin. Third, when Bitcoin becomes scarcer, demand increases.

2. If investors want to make long-term investments through cryptocurrencies, they need a stable and reliable bank account or savings account to obtain funds.

3. As time goes by, the demand for Bitcoin will increase.

4. “Mining” may sound familiar, but it is not understood in this way. “Mining” is a power-consuming technology. Therefore, we can exchange the mined coins for other tokens. “Mining” refers to the process of mining Bitcoin using machines or smart contracts, that is, mining new output coins and then selling them for cash. Of course, some project parties may want to use this energy to make money. For example, Facebook launched Libra, etc. These are all to attract more users to enter the blockchain market.

5. “Buy and profit” is another reason why Bitcoin can be widely used in daily economic activities. Many people may not understand what’s going on, and many friends may even wonder if Bitcoin can solve the problem of inflation.

6. “Trading coins is mining.” In simple terms, as long as you have a computer, you can produce thousands of new machines every day. Therefore, even if you are an ordinary person, you can make money by mining. In fact, the biggest advantage of Bitcoin is anonymity. Everyone cannot forge their own company’s stock codes, financial status, and company’s operations, thereby ensuring that your personal information will not be leaked, while maintaining a good reputation. In addition, in the long run, Bitcoin may still have certain future possibilities.

7. Why is the price of Bitcoin widely adopted? Bitcoin has relatively low volatility, only about 10%. The current price of Bitcoin is about $9,000, which is 1 point. Based on the current price, its increase will be between $1,000 and $5,000.

Why did Bitcoin rise so much?

In recent times, the rise of Bitcoin has been very rapid, and the price has soared from $34,000 to $43,000. On May 10th, the price of BTC was $38,000, and it reached around $46,000 at the highest, and many other currencies also rose several times during this period.

In fact, many people know that when we look at this news with a longer time frame, we will definitely find it interesting, and many people are now paying attention to this news. So why is this market so powerful? Let’s take a look with Planet Jun (WeChat: o-daily).

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