Bitcoin is the world’s most popular, trusted and also the most expensive cryptocurrency. Bitcoin is a cryptocurrency that is invented by some unknown persons by using the name “Satoshi Nakamoto” in the year of 2008. It is used without a central bank or any administrator, that can be sent from peer to peer (Person to Person) connection. The transactions are verified through cryptography and it is recorded through blockchain. At Initial time of releases it’s value was less than 1 USD. Now its value approxly 39,000 USD , it has broken previous all record. So we need to know, why bitcoin is rising up in price so quickly, read on to find out more.
The most important reason for rising of Bitcoin price is that
- There is a limited numbers of bitcoin exist in the world i.e. 21 million .This is the static numbers of entire bitcoins , you can’t change it.
- The size of the mining network grows, so increases the mining difficulty which in turns increases the marginal cost to produce bitcoin.
- For bitcoin mining purpose a lot of energy requires and It’s cost will be paid through miners with local currency.
- Many large corporations, celebrity investors, company like Tesla, paypal, Square launches buy/ sell features through bitcoin.
- Until There is a demand for Bitcoin, the price of the bitcoin will continue to grow.
- The interest of people now increasing to buy bitcoin as a cryptocurrency.
- Crypto platforms are easily accessible for crypto investing. Many countries like Japan, USA etc. look interested towards cryptocurrencies.
- The belief towards cryptocurrency increasing day by day.
