3 Why Bitcoin Topped $ 55,000 For The First Time In The Past 5 Months

Recently, the value of Bitcoin crossed the $ 55,000 mark. Virtual markets are always unpredictable and can experience highs and lows in a short period of time. Since the internet opened up virtual markets such as Bitcoin and Ethereum, there has been a wave of dual Bitcoin players. Of these, hundreds, if not billions, if not billions of financial institutions around the world, if not hundreds of millions of people, are constantly expanding.

In the Bitcoin market, some people have made millions or tens of millions of dollars, and many others can “water” the sea of ​​Bitcoin's ups and downs. More green onions can be collected faster and earn more money. Discard and "edit" immediately after harvest. Our country formally prohibits all major financial platforms from participating in virtual currency exchanges such as Bitcoin, and continues the strict collision of "mining machines". But a lot of people still love him.

Since the birth of Bitcoin, the virtual marketplace has always been 'closed' as a game of 'interest and expansion', but many people have fled because the group has been penalized. When they put their mind and heart in the market, the driving force behind the virtual market is very strong. We only see the computer screen, but we never know which server the data is "running on" and the computer terminals around the world go through the computer data connection.

Currently, El Salvador is the only country in the world that recognizes and uses Bitcoin and has declared its national fiat currency, but no major country has regulated the use and trade of Bitcoin. Virtual currency can only be used for “Virtual Transactions” and not for “Withdrawals”. We can only wait for the next step where the gap between Bitcoin and other cryptocurrencies will go.

Every investment is risky, but you have to take it on your own terms, and good luck everyone.

JPMorgan Chase lists key points of recent Bitcoin recovery

The US bank JPMorgan explained in its latest report published by Business Insider the main reason why Bitcoin has rebounded in recent months to $ 55,793.

First, Fed Chairman Jerome Powell has made it clear that the Fed has no intention of cracking down on cryptocurrencies. This is considered to be one of the main reasons for recent inflation.

The chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, also said in a hearing on Wednesday that his agency has neither the power nor the intention to ban digital assets.

JPMorgan Chase also said that the rapid acquisition of the Lightning Network, which recently surpassed the capacity of 3,000 BTC, also helped spur the recovery. Thanks to El Salvador and Twitter, the adoption of level 2 payment tracks has increased significantly. For more information on blockchain, please download the Block Sky Eye app and the Global Blockchain Supervision Inquiry app.

Finally, Bitcoin is gaining more gold as a tool to fight inflation.

"Investor concerns about inflation resurfaced. This sparked interest in using Bitcoin as a hedge against inflation."

According to a report by U.Today, Mike Novogratz of Galaxy Digital recently predicted that the market value of Bitcoin could overtake gold in a few years.

Bitcoin is now trading slightly higher at $ 54,000 after a slight correction from its recent high.