Why is Bitcoin so high? Why is the Bitcoin craze so hot?

Satoshi Nakamoto published an article in 2008 titled "Bitcoin: Peer-to-Peer Electronic Cash System". To date, tens of millions of bitcoins have been mined and many of us have been buying and selling this decentralized cryptocurrency for years.

So why is the world dream happening now? This sentence includes some of the details that NordikCoin described about the crack.

1. Bitcoin is hovering around $20,000 again

Returning to new highs, Bitcoin peaked at $ 19,783 in 2017 before fluctuating. However, today the cryptocurrency is once again hovering around the $ 20,000 mark, peaking at $ 19,888 on November 30, 2020.

Bitcoin's high volatility can delay a lot, but few can. Do you want to get some bitcoins that are worth that much? I think we will.

If someone asks me when I can start mining bitcoin, my answer is now. Can this cryptocurrency reach an all-time high in the near future? Its price will increase.

2. Cryptocurrencies are on the way to being widely adopted.

PayPal has terminated the cryptocurrency service, making it one of the newest companies to jump into cryptocurrency, allowing US users to buy, hold or provide digital benefits directly on the application platform.

In addition, many other companies are in the business of injecting cryptocurrencies into their organizations. Even the banks were slow to follow when they joined the Bitcoin craze.

All of this points to the ultimate big adoption of Bitcoin. This is also why more and more people are rushing to it and eager to share it.

After all, this rich cake will one day disappear, so here it is:

3. BTC supply is limited.

We all know that Bitcoin products are limited to 21 million BTC.

To date, over 18.5 million bitcoins have been mined, with less than 2.5 million bitcoins remaining.

However, as the difficulty of mining increases due to half of Bitcoin, all Bitcoins will eventually be mined around 2140 and enter the stock level.

Bitcoin halving takes place every 4 years, and miners' health is halved. So every year miners add new blocks to the blockchain and the coins they receive are 50% lower than last year. Every halving of Bitcoin halves a miner's income.

However, as NordikCoin said, Bitcoin has a limit of 21 million, so if the supply is low, the value of Bitcoin may also decrease. As a result, demand is likely to increase.

So, it is clear why many large companies have adopted it and are slowly adopting the major adopters. Maybe one day we can revise the program to increase the product. Isn't that beautiful?

4. Bitcoin can be used as a means of payment.

Currently, over 15,000 merchants around the world accept Bitcoin as a legitimate payment method.

You can buy almost anything with Bitcoin, including clothes, appliances, food, electronics, appliances, games, jewelry, tickets, apps, and more.

You can also sign up with a travel agency, donate to charity, buy or rent a car and truck, buy services online, and more.

Adoption is not a problem because there are so many ways to accomplish it.

5. Bitcoin can be the best protection against deflation.

Fiat's earnings, particularly those in the United States, continued to lag the spread of COVID-19. To make matters worse, as the cost of goods increases, so does the financial problem.

That's why so many businesses are buying Bitcoin now, and Square is one example.

Square, which recently purchased $50 million worth of bitcoin, said it sees bitcoin's future potential as a global advantage.

Many other fundraisers believe Bitcoin can be a hedge against deflation, especially if it won't cost as much as fiat currency.

However, while Bitcoin is resistant to inflation, volatility is still an important consideration. If everyone buys Bitcoin at its strongest, the price will drop before it skyrockets.

6. You can buy bitcoins in a matter of minutes.

One of the great things about Bitcoin is its short lifespan.

We recommend checking out NordikCoin, an Estonia-based cryptocurrency exchange.

It takes less than a minute to create an account on the platform and receive a free Bitcoin wallet. You can create an account with electronic identification and buy bitcoins with VISA or MasterCard.

The purchase process is simpler. Choose price, currency, click "Buy Bitcoin" button and pay with your preferred payment method.

7. The Bitcoin market is transparent and secure.

The essence of Bitcoin and other cryptocurrencies is to make online currency trading more transparent and secure.

This is why BTC is working on broadcast access to the blockchain which contains the immutable data of each exchange. The wheels are decentralized, so there are no triangles.

Most importantly, there is no room for fraud or theft as no one can change the block history. All data and digital money through the system is safe and secure, including your Bitcoin wallet.

Blockchain-based logs are encrypted and no one knows which password is the key to intuitively accessing your wallet.

Together, all of these elements of bitcoin are what make bitcoin hype.