Why Bitcoin is valued by various countries (why is Bitcoin so crazy)
Why Bitcoin is valued by all countries? According to Coindesk, governments of all countries have announced that Bitcoin is listed as national Fiat money. This means that the United States will become the first country in the world to launch its own Cryptocurrency in the next five years. Why is Bitcoin valued by various countries? Firstly, due to its decentralized nature, its linkage to fiat currency makes it easier to use. Secondly, Bitcoin can be used as a means of payment and other things, such as storing value and exchanging media. Finally, its anonymity makes it very useful for the general public. So people in many countries are beginning to realize the potential impact of blockchain technology on the financial field
Why Bitcoin is So Crazy
Editor’s Note: This article is from Cointelgraph China (ID: Cointelgraph China) and is authorized to be reprinted by Daily Planet
In the recent bull market of Cryptocurrency, Bitcoin has performed surprisingly. Although it has not been widely accepted and recognized, its price continues to rise. According to Glassnode’s data, the price of Bitcoin has exceeded $19000, indicating a growing market demand for Bitcoin as a means of storing value, and institutional investors are also flocking to the market As more and more people enter this field, more and more traditional financial companies are starting to purchase Bitcoin in order to achieve their goals. However, this trend does not seem to prevent people from turning their attention to their increasingly popular market share – these assets include gold, US treasury bond bonds, bonds and stocks When Bitcoin surged from $20000 to nearly $4800, many people suspected that this was due to institutional investment in Bitcoin. But there are signs that Bitcoin is rapidly approaching new heights, especially since March. In addition, some people believe that as institutional investment increases and more funds flow in, Bitcoin may experience a significant rebound. Why is it so crazy? Because Bitcoin is one of the most popular digital tokens in the world, it has more than tripled in the past year The current transaction price of Bitcoin is approximately $10500, while the average level in 2019 was approximately $13100. This number is far higher than the historical record set at the end of 2017 Since the beginning of 2018, Bitcoin has been steadily declining and maintaining a stable upward trend. According to reports, the index has fallen below 50, but has fallen by about 40% in the past 30 days. (BitcoinTreaties)
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