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Why develop Bitcoin (why Bitcoin has repeatedly reached new heights)

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Why develop Bitcoin

Why develop Bitcoin? Why develop Bitcoin because it can solve the current global payment problems. Ten years later, from January 2008 to 2009, central banks around the world began researching digital currencies. On the basis of these studies, major financial institutions such as the Federal Reserve and the European Central Bank (ECB) have launched CBDC. However, due to the impact of the US economic crisis, the US dollar is also facing depreciation issues. If it is time for the outbreak of the epidemic and the world situation is worse due to COVID-19, what will happen next is that people will buy more cash and gold to avoid risks, thus causing inflation. So when we entered early 2021, the world’s largest Stablecoin, Tether, was announced to issue its own crypto asset, TetherDAO Although all of this is very simple, in fact, as a new means of storing value, BTC has become an indispensable new thing. And as more and more traditional industry companies participate, this emerging asset class will become even more important. So after the birth of Bitcoin, its position will be further consolidated. Therefore, Bitcoin can not only meet the needs of the general public, but also support the development process of future human society and achieve its desired goals

Why Bitcoin has repeatedly reached new highs

Bitcoin prices have continued to rise, rising nearly 200% in the past 24 hours.

Why is it so crazy? The answer is: with more and more institutions entering the market and new users joining, the price of this Cryptocurrency will rise further From October 2017 to May 2021, Bitcoin experienced a bull market and its value gradually increased. However, due to the sluggish market sentiment, a large number of investors have sold their holdings of assets in search of higher yields to purchase Bitcoin Nevertheless, some people still believe that Bitcoin can survive in the long term. According to Glassnode’s data, approximately 80000 BTCs have been sent to the Bitstamp exchange so far Since 2019, these numbers have been steadily increasing. Although this does not necessarily mean that Bitcoin will rise again in the next significant rebound; But many people predict that more funds will flow to the encryption industry in the near future, and they expect Bitcoin to continue to gain great appeal

Original author: AmyLiu, ForelightNews

Bitcoin has been on an upward trend recently – this is a common view of the future prospects as it is a more stable and resilient asset type.

. Like gold, Bitcoin is becoming a global reserve currency and will largely replace the US dollar As one of the world’s leading legal payment platforms, Bitcoin has also gained increasing adoption, especially in the United States and other major economies. Therefore, the rise of Bitcoin has not only brought huge liquidity to the entire financial system, but also promoted the large-scale expansion of the Wet market. (BitcoinMagazine)

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