The price of bitcoin (BTC) skyrocketed to touch US $11k during the coronavirus pandemic. Although not a record high price, but the price is the highest since last year.
The coronavirus pandemic has made investors shift their investments to bitcoin and other cryptocurrencies.
“The price of bitcoin increases during the pandemic. The prices of other investment commodities are exposed or fall due to the impact of covid-19. People certainly choose the right investment in securing their money,”
The high of bitcoin is a sign that this cryptocurrency will enter an upward trend.
With the predictions of cryptocurrency analysts in the world.
Supply & Demand
Bitcoin price movements depend on supply and demand.
However, momentum such as the corona pandemic and government policies in several countries related to crypto money has also boosted the price of bitcoin.
The United States has allowed banks to use cryptocurrencies.
“This is because cryptocurrencies, especially bitcoin, have proven their position has not wavered in the face of the global crisis the price has increased.”
The US decision became one of the factors that pushed the price of Bitcoin. He revealed that several countries also follow the use of crypto money so that there is a potential for the demand for bitcoin and other cryptocurrencies to skyrocket.
Did not rule out that the price of bitcoin will record new highs in history.
“Although the increase in bitcoin occurs gradually and there will be a period when the market will be saturated, and investors are profit-taking. However, this will not last long, and the price of bitcoin will rise again.”
Monthly Trade Oct'21-Dec'21 "Buy$45k and sell as needed (don't be greedy)." Yearly Invest Oct'21-Oct'22 "Buy $30k and sell $70k (Buy and forget it)."
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