WHY IS BITCOIN ON THE RISE, BREAKING ALL GROUNDS - CONT'D

avatar

images2.jpeg


I may not be a market analyst,a professional one but am a statistician who had a degree analyzing datas.


  • while studying the time-series graph, it suggests that #bitcoin will continue to be on the rise, but thats not to sugarcoat anything, as its likely to reach a breakpoint thereby it will be declining, meaning the fall in price and its units.

  • Here, i don't want to talk like a pro or an analyst, i want to look at this like a common man, who doesnt read news nor watch TV but invests in bitcoin because he said people talking about it. What can he expect?

Why is bitcoin on the run, why is it expensive?
Just few days i was saying that the fair of people not wanting to miss out on the goodies of the coins will prompt people into throwing more money in it, and i predicted some % increament in BTC even within 24hours,
But again, i could say bitcoin is on the bull run and expensive because its units is limited, how do i mean? There is no doubt everybody wants their own share, expecially people that just wants to throw in money, its evident 1BTC is sold for over $50k USD. Comparing that to how much it was sold for last year, and its been on the significant increase, people who had invested along time ago, would be saying to themselves they can still chill till it reaches a $100k USD before selling, everyone is holding unto their coins and investing more.

You could also say its secured. I mean i have my own wallet, everybody have their own with his encrypted unique password just like #hive making it secured and the fact it serves as medium of payment, now you don't have to carry cash all around, just internet access and you are in, and make transactions in you wallet, due to bitcoin evolving like #tesla announced that in the near future bitcoin will be accepted has a means of payment, we can say all other private or public companies holding can follow in that direction, adding value to the coins, therefore making more expensive and on the run, do not forget we are on a blockchain.


Am stil curious thou as to how money will be in circulations, with people prefer to hold coins rather than cash, i wont be surprised if government comes up with a policy to halt the trade, maybe they will point out possible inflation as their reasons


Image source;
https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcTk7eXbhwa0It2XRFYBbTCoJWd4a4s8opfD0A&usqp=CAU



0
0
0.000
0 comments