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Who is driving this butterfly effect of Bitcoin’s surge

Date:2024-04-11 18:00:02 Channel:Exchange Read:
In this era of digital currency craze, Bitcoin’s surge has attracted global attention. Who is driving this butterfly effect of Bitcoin’s surge? Let’s dig into it.
Bitcoin’s surge was no accident, but was triggered by a combination of factors. First, global financial markets are volatile and political turmoil is frequent, causing investors to lose confidence in traditional assets and turn to safe-haven assets. As a decentralized digital currency that is not subject to government control, Bitcoin has become a safe haven in the eyes of investors. Therefore, global market uncertainty is a significant driver of Bitcoin’s surge.

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Secondly, as blockchain technology continues to develop and improve, people’s recognition of Bitcoin is gradually increasing. The decentralization, transparency and security features of blockchain technology give Bitcoin more usage scenarios and investment value. More and more institutions and businesses are beginning to accept Bitcoin payments, which further drives the market demand and price of Bitcoin.
Furthermore, global currency depreciation and inflationary pressure are also important factors in Bitcoin’s surge. The currencies of many countries face the risk of depreciation, and the total amount of Bitcoin is limited and is not subject to government control, so it has become people's choice to resist the risk of inflation. Especially in some countries with unstable economies, Bitcoin has become an important means for people to maintain financial stability.
In addition, the intervention of large institutions has also contributed to the surge of Bitcoin. Recently, some well-known hedge funds, investment institutions and companies have begun to invest in Bitcoin, and even use Bitcoin as part of their asset allocation. The intervention of these institutions not only increases the liquidity of Bitcoin, but also brings more possibilities for the future development of Bitcoin, further promoting the rise of Bitcoin price.
Finally, the influence of social media cannot be underestimated. The surge in Bitcoin has been frequently searched on major social platforms, attracting more people's attention and participation. The fueling of some well-known figures and opinion leaders has also provided strong support for the surge of Bitcoin. With the spread of social media, the popularity of Bitcoin has gradually increased, forming a market force that cannot be ignored.

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