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What determine Rise of Bitcoin
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[QUOTE="Peppul, post: 76938, member: 27039"] Generally the price of bitcoin is determined by supply and demand. When demand for bitcoin increases, the price of bitcoin increases, and when demand falls the price of bitcoin also falls. That's why you see that one moment you coin in your wallet might increase today that's due to the increase in demand, and the next that same coin in your wallet might decrease which will be a loss for you because of the fall in demand. Although most analyst believes that the Covid-19 hit year is responsible for the revival and meteoric rise of the digital currency. Many bitcoin investors have said that the pandemic hit year offered a perfect environment for the cryptocurrency. Also the fact that interest rates on traditional investment hits rock bottom during the year also helped in the rise of bitcoin as more investors poured their money into cryptocurrency. [/QUOTE]
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