BTC has performed extremely well in the last few months after a severe downfall. There is a bright future for this most coveted cryptocurrency Bitcoin.
After a constant increase in its value bitcoin is still above $ 16,000, which is 23 percent more than it was at the beginning of the first month. We observed the biggest increase at the conclusion of presidential elections within America. The United States of America.
The price of Bitcoin has risen to $16,000, which is breaking every record set before in 2020 and is proving that there is a massive demand for Bitcoin Last month, Official eKrona Cryptocurrency volume increased by more than 270 percent, as per Arcane researchers. The 5th of November has the highest daily amount since black Thursday's Bitcoin price sank below $4,000 on March 13
In the fear of not being able to take advantage We see a lot of seasonal traders on the market in addition to long-term investors and trading companies that invest in Bitcoin and are now a cause to boost the value of Bitcoin.
Surging Institutional Volume
Interest from institutions was extremely high in November. Many prominent companies have made investments in BTC as well as high-end individuals who have invested in the cryptocurrency, which resulted in spot hitting a high number of 2020.
The main reason for the rise in bitcoin is the rapidly growing number of users, as per researchers. There are 102 big traders holding positions with a minimal BTC size that's 126 percent more than the total number of transactions in 2019.
Numerous large companies such as MicroStrategy must take part in the Bitcoin market through the purchase of bitcoin valued at 245 million US Dollars. Moreover, involving reliable payment services offered by companies like PayPal has raised the confidence level of the general public.
The more Users means a Higher Price of Bitcoin
In accordance with economic laws according to economic laws, when demand for an asset rises, its value increases, especially if it's a scarce commodity and the same holds true for bitcoin. The growing interest of people in BTC and its offerings is the reason behind an increase in value and its rising trend due to the involvement of both retail and institutional investors.
With the growing interest and the constant growth in the market, It is highly likely that the authorities will be able to approve it, which will provide new avenues for traders and investors to work using digital currencies as well as Bitcoin.
UP and Down of Bitcoin Price
Bitcoin is only available for 12 days, at the current rate. As per experts' estimates, the only bitcoin surpassed $16,000 within the next 12 days. Ten of them occurred in 2017 and the top one was recorded in December of 2018, which was the all-time high closing value for the year 20089 US dollars.
We also consider 16000 dollars as a record-high volume due to the over 5.5 billion dollars worth of bitcoin transactions that were recorded on the 5th day of November. Compared to last month's trading, investors have shown greater interest in bitcoin, and have made the benefit. Bitcoin has only been around for nine days with higher volumes in the history of bitcoin.
If you made a bet on bitcoin for just one dollar back in the year 2010 it has risen to 58339 dollars in the present There isn't any better investment option that is better than Bitcoin as a safe haven.
Higher Interest Can Cause Volatility
Bitcoin contracts and exchanges can provide high leverage between 125 and 125. These give traders access to 1 to 125 based on the platform. when the users utilize high leverage, this means that the liquidation price is similar to the initial price.
It also means a narrower limit on the liquidation price. If you select the 20x option at 16300 USD it will drop BTC to 15600 dollars and the position is then liquidated. A stop-loss liquidation of a position placement wipes the entire position.
These actions are an important change within the business market. They also create an important market on the market for futures and Bitcoin has strong highs and lows in volatility prices. This is making the bitcoin price uncertain if it impacts negatively or positively, leading investors who are long-term to be squeezed away from trading. This could result in the price of bitcoin going lower if short-term investors or traders are re-liquidated.
The price at which you can get into bitcoin is 0.01 percent of its real value. This makes the market fairly balanced so that no one is able to overtake the market.
Bitcoin is among the most popular digital currency. It has not been able to regain its popularity and fame since it was the first digital currency launched in the market. It is a perfect example of the attributes that make it a safe security asset since it has an extremely limited supply. This means that after the specified amount, nobody can create or create it, which makes it more valuable than gold, which is the reason it is also referred to in the industry as digital gold. Investors and people are embracing it rapidly and over the last two years, it's hit its highest ever price. It's also volatile which means its price fluctuates and down, just as other currencies, so it can be used in trading. A lot of traders and investors earn great profits from investing in and trading this, as well as other digital currencies similar to it.
It's also completely easy to transfer funds since it utilizes peer-to-peer technology, which only has the sender and the receiver, making the transfer speedier than traditional currencies. In the past, if wish to send money to a different country you would have to use an intermediary like a broker or bank to transfer money to purchase items or pay bills, which takes a long time. these middlemen also charge a high fee to send money and also charge their own exchange rate, which caused the goods to be costly due to the cost of the goods, but with using bitcoin, the cost costs have been reduced, and you are able to purchase goods at their true costs.