WHY IS BITCOIN RISING? 5 KEY FACTORS

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The official emergence of Bitcoin is shown as 2008 and 2009. However, the year it exploded all over the world was 2017. If we refresh our memories; We can remember that Bitcoin was included in almost every financial market news in 2017. However, after this date, although Bitcoin seemed to lose some of its influence, it continued to take part in our lives. Most importantly, it constantly increased its value. Some; He said that Bitcoin is a bubble that will lose its effect, and some experts said that it will replace real money in the future. However, it is a fact that Bitcoin continues its gradual rise and the eyes of the whole world are on this money. Even Elon Musk, who has the title of the richest man in the world, does not hide his interest in Bitcoin from anyone. Elon Musk wrote Bitcoin on his personal Twitter profile in February 2021, and the value of BTC suddenly skyrocketed. So, could this be the only reason why bitcoin is rising? In this article, we answered the question of why Bitcoin is rising. The Elon Musk Effect First, let's talk about Elon Musk, one of the reasons for Bitcoin's rise. Elon Musk didn't just write Bitcoin on his Twitter account. He announced that he bought 1.5 billion worth of Bitcoin to finance space and electric vehicle projects. Moreover, writing Bitcoin on his Twitter account not only became a trending topic, but also caused Bitcoin to rise rapidly.


This rise in BTC increased by 20% to over $45,000 and was touted as an important moment in Bitcoin history. According to experts, the interest of the world's leading entrepreneurs such as Elon Musk is an important reason for the increase in the value of Bitcoin. Other corporate companies, such as Elon Musk, have also purchased large amounts of Bitcoin before. Therefore, giant companies and famous names advertising Bitcoin is a development Japan WhatsApp Number Data that increases the value of this digital currency. Then, we can say that one of the reasons for Bitcoin's rise is the interest of famous people and institutions in Bitcoin. Bitcoin Buy-Sell Application of Payment Companies Every move made to popularize Bitcoin can actually be a reason for BTC to rise. Take online payment methods for example. Even though Paypal has withdrawn from Turkey, it is used by millions of people around the world. Paypal's cryptocurrency buying and selling service has led to more frequent use of Bitcoin. In addition to Paypal, Bitcoin buying and selling transactions are easily.



carried out with rival payment company Square and other online finance methods such as ecopayz and astropay. Therefore, such factors are developments that increase the use of Bitcoin. According to research, 300 million Paypal users made transactions with Bitcoin. If we add people using other payment methods to this number, we can understand that the number of people making Bitcoin transactions is much higher. As the demand for Bitcoin increases in the financial market, it is considered normal for its value to increase. Limited Number Supply-demand balance is another reason for Bitcoin's rise. Bitcoin is produced by mining and its production is limited. Bitcoin is a cryptocurrency whose supply is set to be 21 million. This means that once the number of Bitcoins in circulation reaches 21 million, no more BTC will be produced. According to the statements, today approximately 8 to 10 Bitcoins are produced every 10 minutes. This figure will continue to decrease in the coming days. According to another data.