As bitcoin begins to rise in price, a million rumors immediately begin to circulate around it, and the entire world community becomes more active in the direction of the cryptocurrency segment. Bitcoin has risen in price at a record high over the past few months, which has provoked a whole bunch of new opinions from various experts regarding the future of the world's number one cryptocurrency. In addition, the cryptocurrency segment itself continues to develop as more and more people and companies want to make money on blockchain technology, which is so popular in the 21st century. Football clubs are already launching their tokens, and central banks are thinking hard about digital euros. Large companies are buying up bitcoin. Twitter founder Jack Dorsey and well-known rap artist Jay-Z invested 500 bitcoins worth approximately $ 24 million in the development of the cryptocurrency itself and expanding its capabilities. The new fund will focus on turning bitcoin into a single currency for the entire Internet. Currently, the search for developers is underway, as well as members of the board of the new fund. "The internet needs its own currency, and bitcoin is the best option at the moment," Dorsey said earlier. Thus, the latest news suggests that humanity plans to continue working towards the popularization of anonymous cryptocurrency and sees it as the future. Unfortunately, many experts are also right, who say that cryptocurrencies in general and bitcoin in particular are hopeless. No matter how it is popularized by various media personalities, businessmen and the owners themselves (who are just most interested in this), it should be remembered that any cryptocurrency is just a piece of code that does not carry any practical benefit. Thus, any cryptocurrency is worth something only when there is a demand for it. Unfortunately, the price of bitcoin and its "brothers" is formed solely on the basis of demand. That is, why did the "cue ball" rise in price from 10 thousand dollars to 50? Has it become more useful? No. Has it become more valuable? No. Has it become more scarce? No. It has risen in price simply because more and more traders are joining the uptrend in order to make money on it. It should be understood that news like the purchase of Tesla bitcoins for $ 1.5 billion, this is hype news, which is just designed to provoke the growth of the "cue ball". If Tesla wants to sell bitcoins tomorrow, do you think it will share its opinion on this? The same applies to other news, such as the desire of the investment bank Morgan Stanley to invest $ 150 billion. This is still just a rumor or a plan for the future, not a reality, but this rumor can lead to a new growth of the "cue ball".
The material has been provided by InstaForex Company - www.instaforex.com