In this video, it explains how Bitcoin price soar high from peak to peak in a span of 3 years. It also gives you the idea on what will be the future of this cryptocurrency.
Welcome to a new episode of Crypto Tips. Now two days ago the world was welcomed with the very happy news that Bitcoin had reached a new 34-month high when it broke past the $860 mark. Now just yesterday that news got even better when Bitcoin broke past $900. Right now it's sitting comfortably right at 900 or just below but I'm sure that with this boost in price the Bitcoin community is going to be ever more vocal about the fact that Bitcoin is not dead.
It is very much alive and more appealing than ever especially to those who live in countries that are experiencing capital controls. FiatLeak.com is a great website to see in real time where people are purchasing Bitcoin and roughly how much. As you can see here China is doing a great job boosting the market and if the capital controls in India and now Spain get much worse as they are already banning higher denominations of cash and setting limits on ATM cash withdrawals. I suspect these countries may also become players in the Bitcoin game but they probably won't contribute as much as China has been.
If you're familiar with spotting trends on the stock market yet are somewhat new to Bitcoin and cryptocurrency you're probably wondering why we all seem to be rooting for this newest bubble. Of course this isn't the first one in Bitcoin's history it's number five I believe in fact but once you see how much the price is increased in each of those bubbles it doesn't take long to realize that this one is quite possibly far from the point of bursting. First we saw Bitcoin rise from price of 10 cents to one dollar and then it went from 50 cents to 31 dollars. The third bubble was two dollars to 130 dollars and after that we saw it go from 80 dollars to 1,150.
This last bubble we now find ourselves in began rising at the 200 dollar level. If this rise has any of the same potential as the past bubbles we are in for some major price increases. There are many different factors in play here that have come together to form what we Bitcoin fans have been waiting for. A new all-time high.
First there's the increase in volume it's increased to 300,000 a day compared to only 75,000 two years ago. Also there's the fact that Bitcoin wallet downloads have increased by several hundred percent over the past year suggesting that there are more people interested in investing in Bitcoin. Now that this news has been covered by the completely reputable mainstream media I'm sure we will see an influx in users and also there was a famous halving that happened this past summer which always leads to an increase in price but a new factor that I think will lead to an increase in users in Bitcoin that must be realized is the fact that major countries are implementing capital controls and taking steps to dramatically discourage the use of cash by their citizens. Some are even going as far as raiding their homes and taking their gold jewelry.
If the government is trying so hard to control your money it's gotten to the point where they're willing to enter your home and steal it from you. Wouldn't you be a bit motivated to move your wealth into a currency that they can't get their hands on? Edit bonus. The same currency, cryptocurrency, has protocol set in place where it does not allow for quantitative easing and it's evil cousin hyperinflation.
Yeah, I would too. That's it for this episode of Crypto Tips. If you like what you see here, give this video a like, share it with your friends, and don't forget to subscribe to Crypto Tips to get your weekly fix of all things crypto.