Perhaps few Bitcoin analysts predicted this incredible growth for Bitcoin. One of the main reasons for the growth of bitcoin in the current situation was the passivity of Joe Biden’s view of digital currencies. Many politicians have felt uneasy about the performance of the cryptocurrency and have always made efforts to reduce the growth of the cryptocurrency. For this reason, the price of bitcoin has always fluctuated. In the following, we will discuss the price trend of Bitcoin in the past few days. Please stay with Artan Press.
*** Excitement in digital currency prices
Bitcoin has even climbed the ladder through technical support channels and is sometimes growing with the excitement that has arisen. After crossing the $ 30,000 mark, Bitcoin is now advancing on the same channel and conquering new heights. In the last 24 hours, the price of Bitcoin has grown by 12% and has now reached $ 33,000 and 808 cents.
The issue of transaction value in the cryptocurrency market is very important. The issue of the value of transactions in the exchange of cryptocurrencies is very similar to the trend of the weighted index in the Iranian stock exchange. The value of bitcoin transactions in the last 24 hours has been close to $ 60 billion, and the total market value of this popular digital currency has now exceeded $ 600 billion. These conditions have sparked a bit of excitement in the inter-Quinn market, but it has shown that in its fluctuations it has been able to return to its original prices and offset the losses of investors.
*** Biden government drives bitcoin price growth
The Biden administration’s economic views are in stark contrast to those of the Trump administration. Trapp was moving sharply toward a booming US financial market with a pro-capitalist outlook. But the Biden government seeks to return to the global structure and reconcile with international social and political institutions. So two-thirds of Wall Street investors say the stock market will be worse off during the presidency of President-elect Joe Biden than under Donald Trump.
This negative outlook on the world’s largest stock exchanges has led stray capital in the world to move to alternative markets. The gold and forex markets are heavily dependent on the US stock market. Therefore, the cryptocurrency market provides excellent conditions for investors. The majority of US investors, traders and strategists predict that stocks will experience lower returns over the next four years, compared to figures such as a 60 percent increase in the S&P 500 since Trump’s inauguration in January 2017.
*** The cryptocurrency is the cause of changes in the US financial markets
US financial markets are expecting big events in the coming month. A new survey of dozens of prominent Wall Street figures reveals different feelings about the next government. Only 33 percent of those polled said they thought shares in the Biden administration would be better than under Trump. Many see Trump’s corporate tax cut as boosting profits and buying stocks.
Lower expectations of profitability from US capital markets are the first factor in the growth of the Bitcoin market. Investors are by no means looking for short-term profits. In the past month, the Bitcoin market has been able to generate as much profitability as a year of fluctuations in parallel financial markets. Therefore, these conditions have created a very high attractiveness for cryptocurrencies. However, most people in the polls said that Dow Jones shares will end 2021 at the highest level. About a third of Wall Street investors predict that Bitcoin will become the hottest new investment in 2021.
*** The latest bitcoin pricing status
The value of Bitcoin exploded in the fourth quarter of 2020, breaking the $ 30,000 price mark for the first time in Bitcoin history. The price of the world’s first cryptocurrency crossed the $ 28,000 mark two days before the end of 2020. The latest wave of bitcoin price hikes began last October, following the launch of the ability to buy and sell bitcoins, as well as the ability to pay with this virtual currency by PayPal, an American e-commerce company.
The value of bitcoin has risen recently due to large corporate investments in this virtual currency, but the bubble may be empty. With the rise in the price of bitcoin and the setting of a new historic ceiling on Christmas Day, society has guessed several reasons for this price increase. Adam Beck, co-founder and CEO of Block Steam, believes that this time micro-investors instead of corporate investors have finally entered the market and raised the price of BTC.
*** Difference between the economic behavior of the Biden and Trump administrations
The Biden tax plan is a long way from Trump’s tax cuts in 2017, which were strongly corporate and isolated companies that were thought to slow the US market. Under the Biden tax plan, corporate tax rates are increased from 21 percent to 28 percent, and the minimum alternative tax of 15 percent applies to companies with more than $ 100 million in revenue. The 2017 tax cut and boom bill, passed by the Republican Congress and signed by Trump, needs to be reviewed by Congress because it was signed and is not scheduled to expire by 2025.
Coal prices in China have risen over the past month as the country’s imports have stalled, causing energy shortages for domestic and industrial consumers and blackouts, and a threat to bitcoin mining. Bitcoin prices have continued to rise. And today set another historical record Has delivered! Bitcoin growth in December alone is + 52% so far, which is a historical record since May 2019!
*** Transfer price bubbles from gold to bitcoin
The popularity of e-money has been on the rise in recent months, leading to an influx of capital. No translators. On the other hand, with the maturity of heavy loans from Chinese banks and the replacement of gold with some loans received by the United States, the supply of gold will increase, and this will lead the performance of gold to an unfavorable path.
The recent unfavorable performance of gold against the real estate market and the dollar has worried some investors that Bitcoin may be replacing gold as an option asset in inflation. This is only a cross-cutting concern, as the role of gold in global crises is becoming increasingly prominent, and in the current situation, gold trading has declined slightly due to the fact that the Corona crises exceeded expectations.
*** Bitcoin Investment Risks
But bitcoin and its pricing rate come with challenges. “Major institutions and investors are avoiding trading in cryptocurrencies because of transparency issues, while micro-investments are making bitcoin an overly risky asset,” Goldman said. “We see no evidence that bitcoin competition controls the gold market, and we believe the two can coexist,” it said.
Demand in the bitcoin market is very high in the current situation. Since the number of bitcoins available in the market is limited and this issue is part of the valuation formula of this currency code, so with increasing demand, prices will rise sharply and with exponential growth. The value of Bitcoin exploded in the fourth quarter of 2020, breaking the $ 20,000 price mark for the first time in Bitcoin history.
The other day, Bitcoin parted ways with gold and oil and returned to its uptrend. But the yellow and black gold market remained red. In the current situation, however, entering the emotional Bitcoin market is not recommended at all, because this currency code can experience a fall below $ 20,000, which is a high risk for investment with the dollar conversion rate in the country.
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