I was pondering on the thought of " Why Bitcoin rallied it's value on an all high in the middle of a world heatlt crisis?". One thing that crossed my my mind is that people are desperate in the monetary value of money because of it's scarcity and swicth to Crytptocurrency. Another thing that came to mind is that, people who spent time acquiring wealth but can't do so because of health restrictions turned to cryptocurrency. It could also be that the time for work at home became less fulfulling in terms of wealth acquisition, thereby reducing the interest in monetary transaction and switching to cryptocurency that has a challenging dynamics due to it's almost unpredictable volatility and unlimited or unrestricted price rise and fall. The question now is, "What will happen after the Pandemic? Will the price of crypto or Bitcoin in particular continue to rise, or will it fall back to it's normal chartline structure before the pandemic? How about you, what is your take? I'd love to hear your side of view on this. Have a pleasant day everyone.
I was pondering on the thought of " Why Bitcoin rallied it's value on an all high in the middle of a world heatlt crisis?". One thing that crossed my my mind is that people are desperate in the monetary value of money because of it's scarcity and swicth to Crytptocurrency. Another thing that came to mind is that, people who spent time acquiring wealth but can't do so because of health restrictions turned to cryptocurrency. It could also be that the time for work at home became less fulfulling in terms of wealth acquisition, thereby reducing the interest in monetary transaction and switching to cryptocurency that has a challenging dynamics due to it's almost unpredictable volatility and unlimited or unrestricted price rise and fall. The question now is, "What will happen after the Pandemic? Will the price of crypto or Bitcoin in particular continue to rise, or will it fall back to it's normal chartline structure before the pandemic? How about you, what is your take? I'd love to hear your side of view on this. Have a pleasant day everyone.