New York, NY, United States, 09/05/2021 / TopWireNews /
What is the reason for Bitcoin, Ethereum prices are on the rise?
Prices of bitcoins and other cryptocurrencies are soaring to record highs, burning speculators who are rushing to get on the bandwagon.
While bitcoin keeps reaching all-time highs amid geopolitical tensions between the U.S., Russia and North Korea, analysts have been busy pointing out what they think will be the tipping points for an surge in prices.
For one thing, bitcoin is trading in the futures market for much higher than its current price.
Many financial experts are concerned about bitcoin’s unusual rise. Although it is still not as large as the multi-trillion-dollar gold market, there are approximately 16 million bitcoins currently in circulation. This compares to the 187,000 tonnes of gold mined over history. It may not be sustainable if any unexpected negative developments occur.
As per
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Facebook could add features for NFTs to its wallet
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El Salvador will make bitcoin legal tender on Sept. 7
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Bitcoin mining is bouncing back
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Elon Musk still likes crypto
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The head of the US Securities and Exchange Commission fired a warning shot
“China’s ban on cryptocurrency mining has forced bitcoin entrepreneurs to flee overseas. Many are heading to Texas, which is quickly becoming the next global cryptocurrency capital.” Zhaoyin Feng – BBC News, Washington
Source: Topwire
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