Bitcoin is now even more and more recognizable in the world wide web. the amount of Bitcoin is too many companies want to buy it, then creators would want to increase it because the demand is high. Moreover its like most transactions can now be used with bitcoins
Firstly ,we need to understand a simple fundamental rule of Bitcoin it works in simple rule of demand and supply. Initially when the hard folk news started coming in the demand froze for a while, which lead every one to believe that bitcoin days were over. However Bitcoin not only weathered the storm it came out stronger. Secondly there has been lot of buzz of an ETF. Then as soon Japan passed a law, the buzz almost doubled in Bitcoins and that’s why the current prices. Also,We feel the impact of war is included North
Bitcoin has the largest market cap. When it comes to a currency or payment system, there are advantages to using the one that is the biggest.Despite everything we can argue is wrong with bitcoin, it’s still good enough for the vast majority of things people want to do with it. Even if competitors are arguably technically superior, it really doesn’t matter.
Crypto-currencies like bitcoin are only being used for the tiniest fraction of the applications that could use them. So high rates of growth are potentially sustainable for long periods of time.
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The long term reason for the overall rise of 150% to 200% rise annually is because bitcoin is still something that a lot of people want and want to invest in. It is the only cryptocurrency that we can trust in its future and be sure it is decentralized. Also it is the only crypto-currency which we can use to buy stuff from anywhere (Now you can use Bitcoin to buy stuff on Amazon & Save 20% ) that accepts it and that is growing every day with more adoption.
The Japan and Russia adoption is a big thing that is affecting the price but it is not enough to push the price from $1200 to $1500 in short term. in my opinion this type of news is more like a slow adoption kind of thing that increases the overall price rise speed.
That said, we think it’s fair to say that there’s always a significant risk that prices could drop drastically as a result of any number of external factors. If it drops, there’s absolutely no guarantee it will ever go back up.