In the past year, Bitcoin has rallied far better than any other currency in the world. It has surpassed stocks, commodities, and assets in value growth for this year. It’s been very impressive to watch, and we expect even more price increases for Bitcoin wallet as the holidays draw closer. Bloomberg has reported on Bitcoin’s rally in a very positive way. Media outlets are very interested as the price of BTC rises. They even provide reasons for the growth of digital currencies like BTC and Ethereum, which has increased by 40x this year.
Best Bitcoin Wallet: Companies are Investing
It’s been three years since Bitcoin has rallied this high in price. It takes time for investments to reach its true value, and the sweet bitcoin Wallet online is no exception. There have been dips in value, and huge increases as well over the past few years.
Which Investors want to buy Bitcoin?
George Kikvadze is the Vice Chairman of BitFury, which is a huge player in the cryptocurrency and Bitcoin industry. He’s involved in the blockchain as well as Bitcoin mining. More importantly, many people with big money have expressed interest in purchasing large amounts of BTC from Bitcoin wallet recently. This is certainly due to the price increases to $800! Investors should be thrilled to be a part of the growing Bitcoin cryptocurrency.
Last 24hrs couple of $10bln+ AUM Funds calling to buy 30k-50k bitcoins.. We were not selling then / not selling now
— George Kikvadze (@BitfuryGeorge) December 21, 2016
Why are people buying BTC?
Countries on a global scale have been preventing its citizens from moving their money to other countries. By doing so, governments hope to keep the country’s money within its borders. To some extent, their actions have been effective for many. But many people are discovering cryptocurrency and Bitcoin. As a result, citizens can bypass the government’s political restrictions by moving their money to a digital currency and overseas. Liquidity has been increased due to capital restrictions. The only option for most Chinese who want to move money overseas is by using digital currency.
Trump has also been a huge factor in BTC’s price increase. It’s well known that the people he’s partnered up with are huge supporters of Bitcoin wallet. The president has many allies who are supporters of libertarian Bitcoin ideals. When he was elected, the price of BTC grew by 8%. Meanwhile, the price of futures markets in Japan and America tanked temporarily. Of course, this is all an exaggeration on the effects of his presidency.
Furthermore, the supply of Bitcoin is slowing down. As time goes on, miners are earning less and less from their rigs. That’s because BTC is capped by 21 million coins. There can never be more Bitcoin than 21 million, so people are hoarding the coin. Additionally, the number of miners has not dropped. People naturally like to get into mining. Miners are being rewarded by half of what they were earning last year.
Everyone’s mind is also changing about Bitcoin. People are willing to accept Bitcoin’s rally. Less people are selling the cryptocurrency, and actually intend to hold it for the long term. Users are purchasing products with Bitcoin too. Furthermore, BTC is proving itself in the test of time. It is resilient to political and economic pressures. For example, the Prime Minister of India has announced a crackdown on fiat currency. The 5 and 10 bills can no longer be used in India. As a result, Indian citizens don’t trust the government anymore. They want to get into Bitcoin wallet as a safe storage of value.
Bitcoin Rally Technical Analysis
Investment advice websites are advising that Bitcoin is due to rally more this year and next. Investing.com has published the technicals for Bitcoin, and everything suggests that Bitcoin is indeed a strong buy. Everyone should be putting more BTC into their Best Bitcoin wallet. Regardless of pivot points or technical indicators, the cryptocurrency is due to rise. Most users also have a bullish sentiment. Very few users are bearish on digital currency. Bitcoin is very valuable compared to most nation’s currencies now, and surpasses many on a global scale.