Bitcoin is on fire!
The last 24 hours bitcoin made a big upside mover from 21,000 to 23,000 dollars. If you are old in this space you are used to this kind of moves but if you are new it may seem strange at first glance. The value of Bitcoin can fluctuate greatly and can be affected by a variety of factors such as market demand, regulatory changes, and global economic conditions.
Bitcoin is considered rare because there is a limited supply of it. The maximum supply of Bitcoin is set at 21 million coins, and as of 2021, over 18.7 million Bitcoins have been mined. This limited supply, combined with increasing demand, can drive the price of Bitcoin up. Additionally, the decentralized nature of the Bitcoin network and the fact that it is not controlled by any government or institution also contributes to its perceived rarity.
The rarity of Bitcoin, as determined by its limited supply, is one of the factors that can affect the price of the cryptocurrency. As the demand for Bitcoin increases, and the supply remains fixed, the price of the coin can increase. However, the price of Bitcoin is also affected by other factors such as market sentiment, investor sentiment, regulatory changes, and global economic conditions. Therefore, the rarity of Bitcoin is one factor that can affect the price, but it is not the only one. It is important to keep in mind that the cryptocurrency market is highly volatile and can be difficult to predict.
In my humble opinion, the key to success in this space is to be patient and hold bitcoin, the rest will come on it's own...
Posted Using LeoFinance Beta
