Very recently, The price of the Bitcoin reaches up to 40 K USD. Experts says that the price of the bitcoin will crashes the sky and surprises the world with huge height. we would strongly believe that the price of the bitcoin will gradually increases to 50K and hits 100 K USD.
Reason behind the growth of BTC
Reduced Pressure in Selling Bitcoin
If the Bitcoin holder wants to sell BTC, The very first thing they need to do is register in the Cryptocurrency Exchange. Statistics say that the Bitcoin Liquidity in Cryptocurrency Exchanges fell to 18% which is the indication that bitcoin holders do not want to sell Bitcoin at the current price they have a hope for future rise in the price of bitcoin.
Increased Participation of Institutional Investors
Institutional Investment considerably increases the trade volume than individual investors. JP Morgan share rider stated that the bitcoin would potentially replace the traditional investment like gold for the large extent. Galaxy Digital CEO stated that the Bitcoin will raise to large extent by institutional participation and investors interest
Wide Adoption of Bitcoin
In 2020, PayPal started accepting Cryptocurrencies and according to Bloomberg, 26 million people accessing bitcoin via PayPal’s network. Square, the popular payment service, decided to hold Bitcoin in its cash money and bought nearly 4.7 K BTC worth 50 million USD. Money popular e-commerce sites will integrate bitcoin as the mode of payment.
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