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It is Day 22 everyone!
Day 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21 participation is now CLOSED! Winners will be selected soon and prize will be sent out right after payout! Go ahead and vote your favorite comments on yesterday's challenge to give them more chance of winning.
Winners
Day #1 winners: @forykw, @jizzyjoe and @elizacheng
Day #2 winners: @qwerrie, @wongbraling and @lydon.sipe
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Day #13 winners: @wirago, @onyechi and @elizacheng
Day #14 winners: @shaidon, @cwow2 and @alovely
Congrats, happy holidays to you and your loved ones! π π€
Moving on to today's challenge...
Challenge #22
What's the cause of recent BTC bull run in your opinion?
Leave your answers in the comments section below and 3 best comments will get 100% of this post reward (50%, 30%, 20% respectively) and extra 500, 300, 200 Ecency Points.
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Institutional investment. Adoption by big players like PayPal and Twitter. Non stop printing of fiat monies.
All of this has contributed to the latest bull run.
Super fantastic information dear
Inappropriate response!
What information did you like the most ? The super or the fantastic ? @haseeb-asif-khan
In my opinion. I believe the wide awareness on cryptocurrency of recent and it adoption. Also the high demands and involvement of some company into buying of Bitcoin.
I agree that crypto is becoming a commen good in the word of finance and that helps the prices for all crypto eventually I still believe that engagement is also the key
True, engagement also plays a part
I think the cause of recent BTC bull run is that world wide banks are implementing crypto more and more so the fact that they set a great example get people investing in the future and the rate rises
Recently in few months or exactly this month BTC have much buyer then the other month do this the reason of the pump in the BitCoin price β¬οΈ, this can be same for hive if there are more buyer of hive
This is my opinion ππ
First,the awareness is getting massive and bitcoin is becoming accepted and more mainstream. Again, people really stayed home this year and many spent lots of time on the internet learning new things including crypto.
The pandemic made many economies go to shit and this affected different currencies especially us in third world countries, those with money saw it as an avenue to invest and save their money.
People don't believe banks anymore as they used to, plus the interest rate in banks has dropped a lot.
Big companies and big players say loudly that they invest in cryptocurrency, so people from lower swords also lose their minds on big purchases, sometimes for whole life savings because they want to earn money quickly.
In the current period, many people are looking for an alternative to paper money, which countries print.l, thus losing public confidence in the country's currency.
At least I think soπππ
In my own opinion, I think the reason is because BTC got more popular, high transaction fees, more whales invested in it and more adoption.
These caused the increase in the price as more demand were made and miners were had lesser than demand.
I think it's because of crypto adoption by big firms like PayPal.
Another thing is that BTC got more influencial whales on its side
The bull run?
Isnβt it because every grandma on the planet each bought some for their grandchildren who had BTC on their Christmas lists?
(I couldnβt even guess what the real answer might be) (sorry)
I can say that it's because of huge investment and adoption of BTC by big firms.
This stimulated and it's still stimulating it to go beyond some barriers.
BTC is just business and nothing else.