As of writing this, bitcoin’s value has gone up to $10000 and is expected to increase more due to the halving. Investors are buying more and more bitcoin in the hopes of seeing a great surge after the halving.
Bitcoin gained it’s popularity when it’s value rose upto $20000 in late 2017. People were talking about it and were dying to get some bitcoins. And now, it’s worth around $8000. What’s the main reason behind it’s price drop?
As per Cointelegraph, Bitcoin’s total marketcap currently has reached over $217 billion, while the Bank of America total marketcap is just over $226 billion. Bank of America itself is the second largest banking institution in the United States, and the ninth largest in terms of revenue in the whole world. This shows that more and more people are getting interested in cryptocurrency.
There is no doubt that whenever there is an ongoing crisis happening in the world, bitcoin’s price gradually rises. The latest Coronavirus outbreak may have caused prices to reach the $9000 mark. I’m not happy about this becasue it’s a deadly virus that can kill millions of people, and I want it to be GONE.