Sponaceous, Secure, digital, consequential and scantily cryptocurrencies:
Bitcoin is secured, digital, spontaneous, consequential, and scantily cryptocurrency. Some economists consider the prices of bitcoin to rise extremely high and break the previous record of Dec 19 when the prices were highest at $ 19000. While on the other hand, some experts think the prices will fall down seen in trends as the covid19 pandemic and the US elections disturbance takes place.
Bitcoins are secure but are unstable, a speculation of the flowing market and the exchange rates. It has merits as well as demerits both at the same time. Investors wanting a stable and safe investment should change their ways to some other platforms.
This week prices of bitcoin went too high in US dollars $18000, a 250% rise to the previous months. This happened before in December, when prices went super high and after that prices crashed down.
The market got upset due to coronavirus, which resulted in huge debts to the government and the fall in the prices of cryptocurrency. People realized the scenario coronavirus is spreading, because of this investors would exchange their cryptocurrency with whatever comes first in exchange for their dollars.
The prices rise and fall depends on the money people like to spend on. Other assets have high prices and fewer returns so bitcoins are growing rapidly. It is easier to use and PayPal is authorized for this platform.
Having its own merits of bitcoin, dollar weakening is also the reason bitcoin became a trend. As we are facing the corona pandemic it is speculated that the prices can go down up to 20% next year. Debts are high and the obligations are rising due to the current pandemic. Many countries are facing problems and some are working for it.
Bitcoins are easy, safe, and rare making place in the market.
Crypto Business World
CBW - External Analyst