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Why can Bitcoin be fried so high

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Why can Bitcoin be fried so high

Why can Bitcoin be fried so high? According to CCN, why can Bitcoin be fried so high. According to CoinMarketCap data, as of June 2, 2018, BTC has increased by 11.7% in the past 24 hours, while XRP has decreased by 13.6%. At the same time, Bitcoin has also experienced a strong pullback, falling from its high of $9850 in early March to its current low around $8850 Although many people do not understand how Bitcoin operates, trades, and is a means of hedging against currency depreciation risks, in reality, Bitcoin has been recognized and accepted by some people. For example, some people praise it as a “digital gold”, because its price is much higher than it is now, so it has produced a very large foam, and because of its high volatility, it is difficult to judge whether it is true or false. Bitcoin is such a thing, and the reason why it has risen to such a high level is because it has great potential to be applied in many aspects: the financial field; The gaming industry; Payment systems, etc

Why is Bitcoin so high?

Why is Bitcoin so high?

On June 8, 2020, with the intensification of the global market downturn, the news of the “BTC surge” once again swept the internet. According to Bitcoinist’s data, as of 5:50 pm Beijing time on July 4th, the price of Bitcoin has skyrocketed from over $30000 to nearly $20000 or more. By the time of press release, this figure has reached a high of about $9000 (data source: TradeView. com)

At present, there is a saying in the market that “if investors do not sell Bitcoin in the next few weeks, they may invest their money in Ethereum or other counterfeit currencies”. But the reason for this inaccurate statement is that ‘Bitcoin is a highly speculative investment’, so its price is also difficult to manipulate or influence. In addition, due to the lack of clear regulations and laws, many ordinary users are unable to participate in the purchase of Bitcoin. But for Bitcoin, this is not a secret: “You think buying now is equivalent to holding for three years before selling.” In fact, since December last year, the price of Bitcoin has increased by more than 10 times. If you want to hoard a bit, you can do it with 1 Bitcoin, and I think it’s a great thing because it has huge potential, “some industry insiders explain. However, some experts also say that “although some people say this is not a coincidence, I am confident that Bitcoin is moving towards the mainstream, and what we must see is that its value will become increasingly high.” Nevertheless, most people still hold a skeptical attitude towards Bitcoin On the other hand, there is a key issue hidden behind Bitcoin – how people view it. Many people don’t know where it comes from and why it’s like this, and even think it’s a scam because these scammers often use this tool to commit fraud during the transaction process. In fact, Bitcoin exists like this, and it’s not unreasonable. When it comes to currency, it usually refers to assets that deposit cash in bank accounts. For example, commodities such as gold, oil, real estate, and stocks are all based on paper form and are often used in electronic payment methods; They are also generated by computers and can serve as a medium of exchange for storing wealth or as monetary units. However, due to its nature as a virtual species, unlike all objects in real life, no one can freely own their own private key. That’s why in the current world of financial markets, many people simply don’t trust what they have, such as banks, government bonds, precious metals, and so on. At the same time, in order to ensure their financial condition, a significant amount of liquidity and transparency is required As previously reported by Cointelgraph, Bitcoin was originally created by an anonymous miner, and it was difficult to mine at that time. Later, with the halving of mining incentives, a large number of mines were closed, resulting in the decline of Bitcoin’s computing power, making Bitcoin one of the most popular Cryptocurrency in the world.

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