Everybody knows the world knows Bitcoin BTC is the first cryptocurrency running on the blockchain technology which enable the transactions with safe and auditable. Its price worth BTC holders for greater 150% during the 2020.
For any value assets, the one of factors that effects to the prices is the world economic events. We can not disagree the 2020 is of one very hard year of us, many economic events happened.
In general market if the people feel they are on risk with stocks market then they move to gold ,and when the gold in risk they move to stocks. But after the blockchain, the Bitcoin became one of their alternative safe asset.
After the 2017 where the Bitcoin price hit the all time high, it becomes popular and into the intention among investors again in 2020, so the price is now almost hit to the 2017 record.
As everybody knows the world knows Bitcoin is limited by 21M in supply and it represents itself as a safe-haven asset, so that the people want to be the owner. The economic crisis in 2020 stimulates its price to move steeply fast.
Other than the world trade wars, COVID-19 or even US the elections, it is that there are more world giant financial organizations come to the digital assets for their alternative investments this year and this increases the confidences to people and people easily reach to the digital assets much more than the past.These reasons are good enough to empowering the crypto market in 2020.
However, just like other kind if value assets, investors need to understand and take the own risk before attending to the market. The price is possibly higher or lower from the current point because it is based on market mechanism.
