Bitcoin cryptocurrency being one of the most volatile and elusive digital currency is keeping on to surprise it’s users and the general public. We have seen a very dramatic behavior by the Bitcoin in the past year. Obviously this behavior was influenced by a number of factors too. But the reality is that bitcoins always behave strange. One day they will be crawling at grounds and the very next day you can see them flying in the seventh sky. 

From the time when Bitcoin was first discovered till date Bitcoin is facing a number of situation. The rates and the trading value of the Bitcoin cryptocurrency always keeps on surprising it’s users. People  have earned a lot using the Bitcoin cryptocurrency platform. On the other hand a number of people have also faced some losses. Well, this is a part of game. To know more about Bitcoin sign up to Bitcoin Prime.

You should always know that Not all days are same for the Bitcoins users.  Just for example at the start of the year 2020 Bitcoin cryptocurrency was not very valuable but as soon as the year came to its end the Bitcoin cryptocurrency rates were increased up to 200 percent. And to your surprise this is not a new thing for the Bitcoin.

Nearly all the digital Currencies behave in less or more the same way.  Let’s take a look to the most recent trend of the most famous cryptocurrency.

As the weekend was approaching it was seen that the rates of the Bitcoins were not showing much progress but as soon as the week has started the Bitcoin cryptocurrency reached a trade value equals to 30,000 US dollars. It is being suspected that Bitcoin cryptocurrency will stay between 30,000 to 40,000 US dollar as the week will progress. As you can see that the rate of the Bitcoin is already taking an uplift. So what do you expect next?

Before making any prediction in mind remind yourself that Bitcoin are the most Unpredictable entity in the trading market.

The increasing market value of the Bitcoin digital currency is a resultant of many number of factors. The Fluctuations in the stock market being on top. President of America Joe Biden has Announced a package of around 1.9 trillion dollars for the Covid 19 Pandemic. This has effected the market overall.

Aftermath of this trend

It is being expected by a number of people that in the upcoming months the situation of the cryptocurrency will be quite surprising. And this surprise is not only limited to the cryptocurrency but also to the conventional currencies. The reason is that as soon as the Vaccine for the deadly virus will be made available for everyone, things will start coming to normal routine. This will take things back on track , both specially and financially. Consequently, the world economy will gain a much stable and balanced situation as compared to the last year. This will affect the Bitcoin digital currency also. Again, this is just a prediction.

Let’s see the balloon pop

Recently, CEO of GMO, Mr. Jeremy Grantham has presented a very interesting statement. In his interview he kind of warned the investor. He said that we should keep in mind that the Good price duration of the Bitcoin cryptocurrency will not last more then a couple of weeks. He further said that the stock holders should be ready to see the bubble pop. He said that the coming few weeks will be quite gainful but the aftermath can be quite bitter.

He further stated , that the over excitement will make the balloon to pop not in years but in months. He warned the investor and to be careful. Honestly speaking, he made a valid point.

Bitcoin in comparison to conventional currencies

Although we always say that Bitcoin is a decentralized and independent non conventional currency of digital origin. But we should always keep in mind that there are several Macro factors that always influence the Bitcoin cryptocurrency. This statement can be seen in perspective of March 2020, when it was seen that as soon as the economy trends for conventional currencies changed, the cryptocurrencies were also influenced. Although the response of both type of currencies are mostly opposite but still we can not give a strict statement About this matter.

Conclusion

Bitcoin being one of the most primitive and old cryptocurrency has gained a lot of attention. Past couple of years has been quite wild for it. People have started expecting bitcoins as a safe heaven but in addition to that they are also aware of the volatility of this Currency. Bitcoins are being used by a number of traders and ventures and the rate of generalizability of this currency is also seeing to increase day by day.