What are the causes of BTC's quick spike in value?

in LeoFinance2 years ago

Greetings and Love.

The cryptocurrency has generated such a stir in recent years that practically every businessman is interested in the crypto sector. The advantage of bitcoin is that its market is quite volatile. A person who invests intelligently and has a long-term plan can earn a lot of money. But, once again, the challenge is how to make money. What coins should be used for maximum reward while minimising investment? All of these answers will be available to individuals who have done more research on the crypto realm and current events throughout the planet.

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We had entered a bear market, but last night I saw that volumes and value were growing. To be honest, I was holding USDT and waiting for additional declines to gain entry at a more acceptable price, but when I woke up and saw the chart, I was astonished and wondered what was causing the spikes and value increase. I begin studying and determining the cause, and I come to the conclusion that the Federal Open Market Committee met and agreed to raise the interest rate by half a point, as many predicted.

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Another piece of good news for Bitcoin is the Asian movers, in which events in China and India occurred, resulting in a more than 6-percentage-point increase in BTC. There are numerous more factors that influence the price of BTC, such as the next elections and the instability that will determine the path. BTC is currently worth $39729, a rise of more than 5%. As we all know, altcoins follow bitcoin, resulting in a green and joyful market.

This article is just for the purpose of disseminating information that I have researched and shared with you. There are many individuals who are more knowledgeable about the crypto market, but there are also some who are searching for simple explanations, and this piece will undoubtedly assist them. I am not a technical or analytical specialist, but I am interested in what you are discussing. I am not a financial consultant, and I am not making any purchasing recommendations; I am simply providing facts and expertise.

Best Regards,
Asghar Ali.

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