Tue | 02.03.2021
FX & Currency
Check out the Past 5 Days Performance Cryptocurrency Leaders
Bitcoin Correction: Why?
After Bitcoin reach record heights, it is currently in rapid decline. Why is that?
Constantin Rotariu (owner & fonder Bitcoin Romania): “We know that Bitcoin is very volatile. The course of Bitcoin going up is the combination of traders, institutional investors (companies that invest), wider acceptance from the public at large (more and more people use Bitcoin), and the media attention (it gets a lot of attention). When the course goes up, the traders and anyone else who is investing for the short term (looking for a quick buck), and the ones that can’t hold their excitement of course, sells when new peaks are reached. I mean a lot of trade is happening then, and more bitcoin comes on the market. This is lowering the price per Bitcoin. Once this fast trading is over, the market settles and restores again, but Bitcoin so far always bounced back, reaching new heights. Don’t forget 10 years ago 1 bitcoin was worth one dollar. If you bought then for 50 dollars, 50 bitcoin, you would be sitting now on 2.5 million dollar.”
Crypto currency acceptance is widely growing. After PayPal’s’ inclusion of Bitcoin in their payment options, now retail giant Rakuten follows and will allow in their payment apps the use of crypto currency: https://news.bitcoin.com/online-retail-giant-rakuten-allows-people-to-load-payment-app-with-cryptocurrencies/, and also Tesla (who else) is including this option
Corporate Investment: Following the trend of financial migrating (from bank into bitcoin), more and more companies are adding to their portfolio of investment the purchasing of Bitcoin and other Cryptocurrency. Most noticeable in February were Tesla https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html and MicroStrategy https://news.bitcoin.com/microstrategy-buys-1-billion-more-bitcoin-90000-btc/, buying for a total of $2.5 Billion worth of Bitcoin.
What are the top 10 crypto currencies that are best performing and have best prospects according to analysts. We sorted it out for you: https://capital.com/top-10-cryptocurrency-to-invest-in-2021
BTR Secure Program Bitcoin Romania invites you for a free lunch at their HQ, together with Constantin Rotariu, founder and owner of Bitcoin Romania. to discuss Bitcoin investment possibilities for companies and individuals through their special BTR Secure Program. This lunch takes place every Tuesday with max 4 people at the time. You can register at email@example.com.
This article is provided by our Cryptocurrency Partner, Bitcoin Romania.