Do you know why Bitcoin has risen from 0 to 70,000 USD?

Have you heard of Bitcoin? From just a few cents at the beginning, it soared to nearly 70,000 USD, and many people might be curious: what exactly is going on?

Blockchain technology is like a super secure ledger that anyone can view but cannot tamper with.

Bitcoin is the world's first "digital currency" created using blockchain technology, completely decentralized, solving the trust issue in transfers, and cannot be faked!

‼️Reasons for Bitcoin's price surge‼️

✅Scarcity

The design of Bitcoin is fixed, with a maximum of 21 million coins. This means it has "scarcity" like gold and is referred to as "digital gold."

✅Trust and Consensus

Just like recognizing LV as a luxury brand, more and more people recognize the value of Bitcoin, forming a massive consensus. For example, the United States has now approved the Bitcoin ETF, which is equivalent to recognizing Bitcoin's commodity properties.

✅Institutional Involvement

Some large companies and financial institutions have also begun to purchase Bitcoin, such as Tesla, Square, MicroStrategy, etc. Especially when Musk announced that Tesla would accept Bitcoin payments, the market suddenly became very hot.

✅Macroeconomic Factors

The global economic situation is uncertain, and many countries are printing money like crazy, leading to currency devaluation. Many people see Bitcoin as "digital gold" to combat currency devaluation and economic uncertainty.

✅FOMO Effect (Fear of Missing Out)

Speaking of this, you may have heard of the "herd effect"; at first, many people thought Bitcoin was worthless, but when they saw it continuously rising, they became afraid of missing this opportunity to make money and hurried to buy in. This "fear of missing out" emotion also boosted Bitcoin's upward trend.

✅Development of Technology and Infrastructure

The continuous development of Bitcoin and blockchain technology, as well as the improvement of infrastructure surrounding Bitcoin (such as exchanges, wallets, payment processing systems, etc.), has increased the actual application scenarios of Bitcoin, enhancing its value.

‼️However, the Bitcoin market is highly volatile, with unpredictable ups and downs, and there are significant risks. Please be cautious.

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