Here’s Why Bitcoin Is Reaching The Moon

Here’s Why Bitcoin Is Reaching The Moon

Unless you’ve been asleep or locked in a cave for the past month, you might have seen that Bitcoin has seen some very exciting growth. If you have been asleep for the past month or have been locked in a cave for weeks, welcome back to reality, no need to pinch yourself, yes, Bitcoin is back over $11,000.00. 

No need to celebrate just yet though, as Bitcoin is still as volatile as ever and cryptocurrency is still very risky business, your investments can never be 100% assured so therefore, if you do wish to invest in this positive climate, please remember to do your own research first. Due diligence will set you right in this industry, remember that.

So, what’s going on? We can’t ever fully predict or pinpoint exactly what is causing Bitcoin to race, though one expert thinks they have hit the nail on the head, and actually, what they are saying does sort of make sense. This recent wave of positivity has come about as a result of ‘macroeconomic turmoil’ according to the CEO of Circle at least.

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Jeremy Allaire has recently been seen on CNBC, during which he suggests that there is a correlation between low level economic problems and a rise in the value of Bitcoin. Allaire states:

“You can very clearly see some macro correlation there. I think the broader theme of, you know, Bitcoin specifically, crypto more broadly participating in these global macro forces is becoming more and more clear. Rising nationalism, rising amounts of currency conflict, trade wars, these all obviously are supportive of a non-sovereign, highly secure digital store of value.”

Such turmoil is being seen all over the world, with tensions across national borders and various other FIAT currency based woes bringing the global economy downwards. We’re not on the brink of a global recession just yet, though the economic forecast is pretty bleak. Allaire believes Bitcoin is simply making the most of this, because finally, Bitcoin is starting to prove it’s worth in a world where governments are starting to fail.

Because people can no longer trust traditional banking means, they are turning to cryptocurrencies which exist under a safer, decentralised and deregulated umbrella that ensures owners of the currency remain in control. What this means is that more people are starting to invest, when that happens value is pumped into the markets and with that, comes a huge increase in the value of Bitcoin.

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