A New Milestone for Bitcoin

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In March it has surged past $60,000 which is an unprecedented record-breaking price for the cryptocurrency and the crypto market in general. This further made more people aware of Bitcoin and its status as a safe-haven asset. In this article, we review the events and some of the factors that helped with the meteoric rise of Bitcoin.

Increased Use

Bitcoin became a famous cryptocurrency that it is widely used compared to the other cryptocurrencies on the market. Firstly, if you want to invest in BTC most of the crypto exchange sites offer this option. This simultaneously makes Bitcoin a highly liquid asset because you can easily find a marketplace to buy or sell BTC. Of course, as its price was growing so was the number of trading platforms.

Plus, for anyone that wants to purchase an item in BTC or a service, there are also a growing number of businesses that provide this option online and offline. So, you’ll find incredible options, especially including PayPal, Microsoft, Overstock, AT&T, and other smaller brands.

This not only promotes the cryptocurrency to anyone that wants to buy it, but also makes it a lot more popular among both businesses and investors. One example is the investment of globally renowned company Tesla in BTC. This is actually considered one of the main events that propelled the rise of Bitcoin to new high prices. Because the crypto market is much smaller in comparison to the financial markets, a shift in the demand which is triggered by a huge investment can also result in a significant spike in the price of Bitcoin. Hence, when Tesla made an investment of $1.5 billion the price dramatically rose to $60,000.

Investment in BTC

As we mentioned earlier, it is incredibly accessible and easy for most users that own an electronic device and have a reliable Internet connection to get BTC. Moreover, because the technology is evolving at such a rapid pace you have actually far more options when it comes to investing in BTC even as a beginner.

For example, Bitcoin Equaliser allows crypto newbies to easily trade BTC because it uses Artificial Intelligent technology and it has partnered with regulated robot brokers to deliver the best possible results to its members. Moreover, you will be trading in a safe environment because this is an encrypted website.

The Supply of BTC

Based on the design of the blockchain network and the protocols that govern the supply of BTC there is a stable rate at which new BTC is introduced to the market. In other words, every four years a Bitcoin halving reduces the reward of the miners and it manages the supply along with the inflation rate. This event is programmed by Satoshi Nakamoto the creator of Bitcoin and it happens when 210,000 blocks are mined.

It occurs every four years and it increases the overall cost of mining and decreases the number of new BTC in circulation. So, this would mean that due to Bitcoin halving the supply of Bitcoin is declining. Also, Bitcoin is considered rare and precious, due to its already restricted supply of BTC of 21 million.
When it comes to the demand as we mentioned earlier the number of businesses as well as individual investors that want to get BTC is growing, therefore, based on the ratio of supply and demand the price follows an upward trend. In addition, because its price has been growing over the past year and it has increased by over 224%, a lot of people value this decentralized cryptocurrency as a safe haven asset.