Why Bitcoin Hasn’t Been Rising Lately (Why Bitcoin Stands the Test of Time)

Why hasn’t Bitcoin been rising lately? Why hasn’t Bitcoin been rising?

Why hasn’t Bitcoin been rising recently?

What is the value of Bitcoin and why has it been so high recently?

Today, I brought this article here to analyze it for everyone. First, what is the reason for the rise in Bitcoin prices?

The price of Bitcoin has always been determined by one factor: the significant fluctuations in Bitcoin since the end of 2017; then, with the increasing recognition of Bitcoin, the price has been rising steadily. It dropped over 30% from its high point in mid-March 2018 and reached its all-time high only in early April this year. However, it has been continuing for a whole month so far. Secondly, people have very high expectations and expectations for the future growth of Bitcoin.

We can understand it simply as when you pay attention to a specific market, you will see a wave of new participants entering the market. So, what happens when these newcomers come in? Second, why hasn’t Bitcoin been rising lately?

1. Is the price of Bitcoin stable (see Figure 1)?

2. The issue of Bitcoin transaction fees being tied to the US dollar (see Figure 2).

The trend of Bitcoin prices is usually driven by two main reasons: 1. Increased demand from investors, causing more people to be willing to buy more cryptocurrencies. 2. Increased consumer demand, causing many companies to choose to invest their funds in exchanges. 3. The more people “buy” Bitcoin, the more expensive the price becomes because people are more inclined to use “sell.”

Therefore, for Bitcoin, due to its relatively fixed price, it is easy for its price to fall below the bottom and quickly rebound. Therefore, investors should be cautious in holding some assets or other currencies to avoid losses. (Note: On May 12th, according to bitcoinist reports, a spokesperson for Bitstamp said: “Many Bitcoin users now want to use these tokens to pay for fees and they also want to get higher profits.”) Third, why hasn’t Bitcoin’s price been rising recently?

Many people believe that the reason why Bitcoin is so low is that the supply of Bitcoin is insufficient and there is no fundamental support. For example, the number of blocks mined by miners is only about 21 million, and it cannot completely eliminate network congestion problems. Therefore, many analysts predict that the price of Bitcoin will break through $8,000 in the next few weeks. However, according to Coinmarketcap data, Bitcoin has experienced nearly 10 days of decline since the beginning of 2020 and has now fallen below $10,000.

Why Bitcoin Stands the Test of Time

Editor’s note: This article is from Colorful Cloud Block Chain (ID: cybtc_com), author: irishash, authorized to be reposted by Odaily Star Daily.

Bitcoin, as an emerging cryptocurrency market, has existed for more than ten years, but it has not become a mainstream asset class, and it has not even reached its market value limit.

Although the price of Bitcoin has grown by more than 2000% in the past 10 years, its value has not increased to a sufficiently high historical high. According to Chainalysis’ recent research report, “Currently, the dollar price of the BTC/USD trading pair is around $34,000.” These figures indicate that Bitcoin is being adopted at an astonishing rate, and more and more people are investing their funds in this “risk-free” investment portfolio. Why does Bitcoin never die? Because Bitcoin has very low correlation with other major fiat currencies, when people start to use it, it is usually more easily manipulated than the fiat currencies we are familiar with. However, if Bitcoin is really as attractive as gold and maintains such high volatility, it must continue to exist to attract more attention and favor.

With the development of the world economy, investors also hope to transition from the traditional financial sector to alternative payment solutions based on cryptocurrencies, which may have a huge impact. Therefore, some experts believe that this approach is beneficial to the future development of Bitcoin. “I do think Bitcoin can bring a lot of new things,” researchers said. “Now, if you keep your wealth in a bank or transfer or purchase goods and services through a third party, you don’t need any intermediaries to get the information you want. This is a saying we often hear. It means people need to know how to send, receive, and store their personal information with their wallets.” In addition, analysts pointed out, “even in extreme situations,” he explained, “For those with a large cash reserve, they can still easily transfer assets. On the contrary, it is impossible for most people to use Bitcoin to evade government regulations. Of course, this is a worrying thing because many people are waiting for the approval of regulatory agencies, and it will become more difficult once this process is over. However, many people are curious about this, and it is not something new, but it needs careful consideration. In fact, no matter what happens, Bitcoin will not disappear because it is not issued by the government and is not subject to central authority intervention, nor does it rely entirely on national sovereignty.” What are the advantages of cryptocurrencies? Although Bitcoin is part of a new asset class, it has been growing and developing continuously in the past ten years. Until today, there are still many factors supporting it as a secure medium of exchange. In addition to the technology itself,