No Result
View All Result
  • Home
  • Business
  • Marketing
  • Finance
  • Home and Garden
  • Education and Career
  • Fashion and Beauty
  • Health
  • Tech
  • Home
  • Business
  • Marketing
  • Finance
  • Home and Garden
  • Education and Career
  • Fashion and Beauty
  • Health
  • Tech
No Result
View All Result
No Result
View All Result
Home Finance

Reasons for the increase in bitcoin price

Wilfred Shah by Wilfred Shah
October 15, 2020
in Finance
0
0
SHARES
405
VIEWS
Share on FacebookShare on Twitter

Do you want to know why the price of the bitcoin is growing at a rapid pace? There would be thousands of reasons for it. The price of bitcoin is going up across the globe. The birth of the bitcoin happened to be in 2009. It is a digital currency that is accepted by online and offline stores today, globally. There is no need for you to convert the currency to the currency of the respective country when you have bitcoins. It is acceptable in many stores. You can use bitcoins to buy things anonymously. The best thing is that this type of currency is not linked to any country. You can carry out international payments happily. There is no fee that you have to pay while doing the transactions. It can also be an investment for people today.

There are a few countries where bitcoin has been made legally, such as Japan. Few of the governments have imposed restrictions on its usage. Post-demonetization in a few places, the demand for bitcoin currency is on the rise. Many factors would decide the price of the bitcoin such as the mining process, international pricing, total number of cryptocurrencies, and supply of bitcoins to various countries. Today, people are using bitcoins to buy pizzas. You can even buy some strange things for bitcoins today. So, you can go hands-free outside and shop whatever you want. To know more you can visit computingforgeeks.com

Few of the reasons for the rise of bitcoin price include:

Holding

Majority of the bitcoin investors are using bitcoins as an investment option. They are keeping these coins in the investment funds. It eventually leads to a shortage of bitcoins in the market. When the bitcoins are not readily available in the market, the price of it obviously will go up. If there are a lesser number of coins, many people want to acquire it at any cost. The investors should acquire bitcoins before the price of the bitcoin goes up. The investors can buy the coins from exchanges and keep it with them in the bitcoin wallet and take them out when the price of the bitcoin is skyrocketing.

Increase in the liquidity

The price of the bitcoin has been fluctuating due to low liquidity. There are many approvals required for the complicated trading instruments, which have resulted in liquidity and is grabbing the attention of investors.

Hype by the media

With a lot of hype for bitcoin, even people who do not know much about bitcoin are showing interest to buy bitcoins. They are keeping the bitcoins in the wallet as an investment. The media hype is another reason for the hike in the bitcoin price. Due to media, if the price goes up, it goes up and up, and the bubble will crash in no time.

Adoption

The bitcoin is one of the acceptable payment modes by retailers and investors. This is another reason for the spike in bitcoin price. Even the big companies exclusively, the banks are showing interest to invest in bitcoins without buying any currency.

Other currencies have become not so trustworthy.

People are not having any trust in the banking system or currency and are looking for alternative options. For them, bitcoin is found to be an ideal solution. This asset is similar to that of gold. The price of bitcoin in a few countries is increasing briskly. It is due to the instability in the currency rate of the respective countries.

A dearth of its supply

Another reason for the increase in the value of the bitcoin is due to the shortage of its supply. People already mine around 85% of the bitcoins. For every 10 minutes, there are around 12.5 bitcoins that are rushing in the market.

Growth of cryptocurrencies

Cryptocurrency is increasing at a brisk pace. Out of all the cryptocurrencies, bitcoin has a huge value. With the advent of internet technology, it has now become easier for people to learn about the significance of bitcoins, and they started to invest in it.

Cross border remittance

You can transfer the bitcoins to the people sitting in other countries without having to pay a high fee. It is another reason for the hike in bitcoin price. Moreover, international payments have become relatively cheaper and easier now.

Previous Post

7 Ways to Pamper your Hair at Home

Next Post

Tips to keep in mind to safeguard the bitcoins that are stored in the wallet

Wilfred Shah

Wilfred Shah

Senior Editor

Next Post
Tips to keep in mind to safeguard the bitcoins that are stored in the wallet

Tips to keep in mind to safeguard the bitcoins that are stored in the wallet

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Faux Leather vs. Leather: Which Is the Perfect Option for Boxing Gloves?

Faux Leather vs. Leather: Which Is the Perfect Option for Boxing Gloves?

2 days ago
Do You Want To Know More About Gifted Education?

Do You Want To Know More About Gifted Education?

3 days ago
The improvement of pencil grip in Children

The improvement of pencil grip in Children

3 days ago
How Sustainable Packaging Can Improve Your Business

How Sustainable Packaging Can Improve Your Business

3 days ago
Wholesome Guide on Basic Hygiene to Keep You Clean and Healthy

Wholesome Guide on Basic Hygiene to Keep You Clean and Healthy

3 days ago
Must Have Bathroom Pieces for 2022

Must Have Bathroom Pieces for 2022

3 days ago
Differences Between a Duplex and a Townhouse

Differences Between a Duplex and a Townhouse

3 weeks ago
Prestige Botanique- A Meticulously Exquisitely Planned 3 BHK Apartment

Prestige Botanique- A Meticulously Exquisitely Planned 3 BHK Apartment

2 weeks ago

Get Blogo is a web magazine platform. Our aim is to provide trending information. So that, our readers get benefited from this website. Our team is here to provide the latest news and information on different topics.

Category

  • Animals
  • Apps & Software
  • Automotive
  • Biography
  • Business
  • Celebrity
  • Education and Career
  • Electronic & Gadgets
  • Entertainment
  • Fashion and Beauty
  • Finance
  • Fitness
  • Food and Recipes
  • Gaming
  • Health
  • Home and Garden
  • Jobs and Services
  • Law
  • Lifestyle
  • Love and Relationship
  • Marketing
  • Miscellaneous
  • News & Politics
  • Nursing
  • Outdoor
  • Parents and Children
  • Politics
  • Real Estate
  • Social Media
  • Sports
  • Tech
  • Tips and Tricks
  • Travel
  • TV Shows
  • Writing
Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Drew Pritchard Wikipedia – Wife, Divorce and Antique

Drew Pritchard Wikipedia – Wife, Divorce and Antique

January 1, 2020
Catherine Southon Wikipedia, Cancer, Husband and Children

Catherine Southon Wikipedia, Cancer, Husband and Children

December 28, 2019
Catherine Southon Wikipedia, Cancer, Husband and Children

Catherine Southon Wikipedia, Cancer, Husband and Children

0
Drew Pritchard Wikipedia – Wife, Divorce and Antique

Drew Pritchard Wikipedia – Wife, Divorce and Antique

0
Faux Leather vs. Leather: Which Is the Perfect Option for Boxing Gloves?

Faux Leather vs. Leather: Which Is the Perfect Option for Boxing Gloves?

July 2, 2022
Do You Want To Know More About Gifted Education?

Do You Want To Know More About Gifted Education?

July 1, 2022
  • About
  • Team
  • Privacy Policy
  • Editorial Policy
  • Terms & Conditions
  • Contact

Copyright © 2020, Get Blogo

No Result
View All Result
  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Get Blogo – Web Magazine
  • Home 4
  • Home 5
  • Privacy Policy
  • Team
  • Terms And Conditions

Copyright © 2020, Get Blogo