In March 2020 Bitcoin price volatility surged to a record high, due to massive sell-offs and panic on the market. However, recent researches of the cryptocurrency show that long term Bitcoin holders, aka Hodlers, are not in a hurry to sell their tokens.
Blockchain tech is a communication protocol, a tool based on decentralized system logic - a system where info isn’t kept on a single machine but rather on several devices linked together, known as nodes.
Adoption in digital currencies, especially Bitcoin (BTC), appears to be growing at a high rate in the Hong Kong SAR. Last week, a Bitcoin startup firm LocalBitcoins saw its peak trading volume ever in the special administrative region Hong Kong.
Since 2017, the word Blockchain has resounded more and more often in the ears of Italians. The technology became famous mostly thanks to the Bitcoin marvel, which in December 2017 reached a record value of more than $20,000. There are numerous applications, nevertheless in a nascent stage, of this technology: in the context of financial technology (FinTech) we can think of digital payments in cryptocurrencies, smart contracts and insurance.
It has become very competitive and expensive to mine Bitcoin than Ever. The BTC mining difficulty has hit a new record high at about 7.93 trillion. The figure represents a 7% increase from the previous number of 7.45 trillion. Bitcoin adjusts its difficulty after every 2,016 which is about 2 weeks.
In the past weekend, Bitcoin surged up to $9,381 with the increasing rate of 7% in 24 hours which makes bitcoin’s market cap be over $165 billion US dollar, hitting the highest record so far in 2019. Since BTC’s breaking $8,000 mark in May, it continues its upward movement though there are some pullbacks. Why BTC managed to rise above $9,000? Here are 5 reasons may be contributing to the Bitcoin bullish run.