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❓ASK Bitcoin's price is going high, can anybody knows the reason?

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CrazySher

CrazySher

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Can anybody knows that why Bitcoins price is rising, in recent days it almost surpasses, a difference of $1000-$1500 mark daily. Which materials or reasons give it a boost.

And is it still continue to grow in next days or it will fall back?
 
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The price of Bitcoin is always going to go high if more people are going to be adopting it. Right now demand for bitcoin is more than the supply and as such the value of the coins are increasing but I do not think that this is going to remain like this forever as there is going to be a retracement.
 
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There are many reasons why bitcoin may be rising these days. Some of the reasons may include the fact that some giant investors have invested in bitcoin of lately. Aside from this, there are countries that have decided to adopt bitcoin as their legal tender. This has made the price of bitcoin to increase of lately.
 
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I think one of the major reasons the price of Bitcoin is gradually skyrocketing is due to the Investment of prominent investors like Elon Musk. The community support to Bitcoin is bloosoming. Also, the popularity of Bitcoin had given it a sacred space in the world or ecosystem of cryptocurrencies. It is the king of cryptocurrencies even Ethereum that some people thought would override Bitcoin is not a step close to it.
 
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Back then, at least in 2020 when this thread was created, the price hike can be attributed to the rising popularity and people's willingness to adopt bitcoin or any other altcoins. Plus, the pandemic also gives crypto more exposure since more people are online than ever before. The pandemic also causing economic hardship, and people are looking for a way to make money online.
 
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The price of bitcoin rising is due to some circumstances. For example if there are many news events going on with bitcoin. Like now that we do hear that Ukraine is accepting the donations of bitcoin and many big store and companies now accepting bitcoin these and many more good news like that are factors to increase the price of bitcoin.
 
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