Bitcoin extremely bullish

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• The Future of Bitcoin: 12 Scenarios From Bullish to Bearish!

This speculation has lead to an increase in Bitcoin's value. Another reason for Bitcoin's rise is the growing inflation of the U. This has many worrying about the inevitable decrease in the dollar's purchasing power and the rise in inflation. To hedge against this rising inflation, many have retreated from the dollar and have taken shelter in assets that historically have held value or have even appreciated in value. Typically, assets that people convert their dollars into to avoid inflation or volatile markets are ones that are scarce or are less volatile in general.

These ' safe-haven ' assets include things like precious metals, stocks in sectors that are generally less volatile, and more recently, Bitcoin.

Scenario 2: Bitcoin is strangled by regulation

Another reason for Bitcoin's price appreciation is its growing adoption as a payment method. Recently, PayPal PYPL announced that it would soon allow its users and merchants to buy, sell, hold, and accept Bitcoin and other cryptocurrencies as a form of payment. This news pushed Bitcoin's price higher immediately. PayPal has nearly million users who will now have the ability to easily buy, store, and use Bitcoin.

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PayPal also has well over 20 million active merchants who can now accept the currency. Aside from PayPal, this has further implications.

PayPal adding Bitcoin is extremely bullish for price |

PayPal also owns the widely popular payment app, Venmo. Venmo has more than 40 million active accounts, making the accessibility to Bitcoin and other cryptocurrencies even more significant. While PayPal and Venmo are newer to crypto, there are a host of other applications that allow its users to buy, sell, and hold. As discussed above, there is a growing narrative of Bitcoin as a safe-haven asset.

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In the current societal and economic climate there is a growing incentive to hold less cash and be hedged against intense market swings. Recently, a trend started where publicly traded companies were beginning to convert cash in their treasuries over to Bitcoin as a more sound store-of-value.

Since then, a number of companies have followed suit. The confidence that these companies and their investors have in Bitcoin has given increased merit to the concept of Bitcoin as a store-of-value and safe-haven asset.

Perhaps the most important reasons for the rise in Bitcoin's price are two attributes that are inherent in its design. The first: there is only 21 million Bitcoin that will ever exist. There will be no more and no less and this number will always stay static. This makes bitcoin more scarce than anything that has come before it. The second is a process coded into Bitcoin called the halving.

⚠️ BULLISH WARNING ⚠️ BITCOIN \u0026 CHAINLINK TRADERS BEWARE A HUGE MOVE IS IMMINENT!!!!!!!

Essentially, Bitcoin has its own built-in escrow mechanism where Bitcoin is released and given to miners as a reward for processing transactions. This reward is cut in half every four years. By doing so, Bitcoin's rate of inflation is reduced by half each halving and its stock-to-flow ratio is doubled each halving.

This process continues every four years until all Bitcoin in this escrow mechanism is released and in circulation. From that point on Bitcoin in circulation will be capped at 21 million.

BTC/USD Forex Signal: Bitcoin Extremely Bullish Over $38,700

As of the time of writing, there are 18,, in circulation. Investing in cryptocurrencies and Initial Coin Offerings "ICOs" can be highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein.

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PayPal adding Bitcoin is extremely bullish for price

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SushiSwap continues to see the largest TVL increase among leading decentralized exchanges. The overt bullishness of the cryptocurrency market is on full display when examining OKEx's best and worst performers. The latter's changes in valuation are minimal when compared to the sheer amount of coins and tokens seeing gains. ZRX is probably today's most notable top performer. The price of BTC is steadily climbing as the overall cryptocurrency market remains extremely bullish. The foremost cryptocurrency now looks determined to test its recent all-time high of 42, USDT while using the four-hour ribbon of exponential moving averages as support on the way up.

Bulls and ETH hodlers will now likely wait to see just how high it can go before making any decisions to sell. Not an OKEx trader? Learn how to start trading! OKEx Insights presents market analyses, in-depth features and curated news from crypto professionals. All you need is to buy, deposit, and trade crypto!

Bitcoin extremely bullish
Bitcoin extremely bullish
Bitcoin extremely bullish
Bitcoin extremely bullish
Bitcoin extremely bullish
Bitcoin extremely bullish
Bitcoin extremely bullish