Why Bitcoin Is Going Up
You still have many questions about BTC. Why Bitcoin was created? How Bitcoin is made? When Bitcoin will end? How Bitcoin works? We will answer them shortly, but today we are focused on the recent rise of Bitcoin. Let’s find out why Bitcoin going up.
Bitcoin price has spiked. For a few weeks, the BTC price fluctuated around $4,000. But two days ago, the most popular cryptocurrency in the world went up quite high. Today for the first time in several months BTC has broken the $5,000 level. Last time, when one bitcoin was worth at least $5,000, a space probe called InSight prepared for landing on Mars, Tom Brady looked like an old grandpa, and everybody hyped A Star Is Born. It was a while ago.
First: why Bitcoin is dropping
Back then, we asked ourselves why Bitcoin crashed and when Bitcoin will recover, or even a question if will Bitcoin ever recover. It was a harsh winter for the whole cryptocurrency industry. The question “can Bitcoin make you rich” seemed then like an absurd one. That is not the case anymore.
In November, many people warned us that it can be the end of Bitcoin. We couldn’t get out of this slump. Finally, something happened and BTC broke the $5,000 price level. But what really happened?
Second: why Bitcoin going up
According to many sources, the Bitcoin rally happened because of technical issues. Other experts claim that the rise was caused by a large purchase of BTC. Whale Alert, the most credible source of cryptocurrency transfers, reported:
Whatever it was, it caused a major move in the whole industry. Like always, the Bitcoin growth helped other digital assets to go up. We can’t predict what will happen in the near future. We are not convinced that at the end of 2019 Bitcoin will recover to its highest price. But we believe that the crisis of the cryptocurrency industry is over.
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