The Rise of Bitcoin in the Crypto Market

The Rise of Bitcoin in the Crypto Market
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  • With the sudden rise of Bitcoin, many things have started moving around this digital coin. More and more investors now want to put their money in it, and you can see hordes of such stuff going viral on the web. Thanks to people like Elon Musk, the owner of Tesla, we see many more companies investing in Bitcoin and other digital currencies allowing people in this domain. Digital currencies seemed to have gained a huge rise and fall in terms of prices, and these have been gained at the peak in recent months, especially when we look at the price of Bitcoin. This was when people like Elon Musk got into his investment of 1.5 B USD in Bitcoin, which brought a huge buzz around it. The fact of the matter is that even other companies like Visa and others also tried their luck to plunge into this domain and thus gave a chance to others to allow things to move along in this direction. You can further explore the same on sites like Immediate Edge

    Digital currencies have witnessed good growth, particularly Bitcoin that seemed to be moving at a great pace from being lower than 7K USD to the price reaching 19K USD soon in September. One can find a loss of 2/3rd of the value that went for its peak. Several other digital currencies seemed to have gained a good fall in terms of their value in the last year and even in the last quarter of this year, with their value reaching its peak. At the same time, other digital currencies seemed to have come along with some steep fall in prices in the last quarter as one can find the investors getting pulled away in the market. Remarkably, one can find the current crash following a year of an incredible return when digital currencies are seen with higher prices in a big way due to the investors’ expectations in the coming prospects.

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    Now, let’s answer the question, what went behind the big crash. Several people have seen the quick rise of bitcoin and several other digital currencies like a huge bubble that seemed very much to the bubble created around dot com or e-commerce in the recent history that has witnessed a good price hike without actually going with a key reason. As per the example given by Goldman Sachs, he was the man who warned the people in the investor’s camp last February, stating that the prices of bitcoin and other digital currencies are soon going to go down. He even indicated that a few would even witness zero decay as they are seen coming along with the intrinsic value. There are several digital currency lovers who, on the other hand, are seen rising in the long run. The fact is that they have all the points that remain very much similar to the crashes as seen in the cost of digital currencies in the past.

    Now, let’s talk about the future of digital currencies. Technically speaking, digital coins are still under the garb of a downtrend, which can be seen triggering in the middle of December and boosting up the fears as found in the regulatory crackdown as done by the respective law of the land. Although it is very much unlikely to see the downtrend that could come at the end of the day, the investor sentiments can be seen suddenly changing in favor of digital currencies once for all. Many still believe that there can be so many hurdles coming in digital currencies that remain in poor form.

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    None of the digital currencies, for example, are yet to be seen as a basic value to the currency as one can be seen getting accepted by a huge chunk of the population that remains the key medium of exchange. This seems to be just the opposite of people that are seen coming along with many. Several governments all over the world are not very keen on helping the digital coins that are to be used like an alternative kind of money that is seen as a key to private currencies acting as a risk to the integrity of digital coins.

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