Bitcoin is flying on a flying saucer; the price has reached $35,722 as at the time of this writeup. Could it be another bubble again or going to another planet.
Well, from my own paspectives; bitcoin is no longer bubbling as it was claimed by many before, especially as was in 2018. It is very glaring that the price is influenced by the involvement of more people and big time companies in the virtual coin. It kept beating watchers imaginations and investors alike
From What I read on series of bitcoin news websites and markets; I found these few points as the real causes of the contineous soaring of the coin money.
* Bitcoin broke a key resistance level making investors believe there is further upside.
* Rising inflation and the potential for even more stimulus continues to push people to safe-haven assets.
* Increased adoption from payment applications like PayPal will give far more people easy access to cryptocurrency.
* Publicly traded companies purchasing Bitcoin shows a high level of confidence in its appreciation.
* Bitcoin's historical trend of closely following its halving stock-to-flow model shows an ambitious and extremely bullish outlook.