Post
Topic
Board Bitcoin Discussion
Re: What are the practical factors that caused Bitcoin to skyrocket and plummet?
by
sherryDEFI
on 02/07/2021, 08:01:12 UTC
In the short term, the reason for its rise is nothing more than the exposure of the news, letting you learn more and participate in it; the attitude of the government, especially China, the United States and the EU countries, their attitude towards Bitcoin; the acceptance of the market, such as Now that more than 600 banks in the United States accept Bitcoin transactions, it will rise sharply; of course, there will be technical aspects, such as the current difficulty of mining and the total computing power of the entire network hardware. As far as the current understanding is concerned, the technical volatility is not as large as the volatility caused by the previous factors. The technical factor should be more obvious after the market becomes more stable.