The current wave in the technology industry that is presently causing disruption in the system is cryptocurrency. This is cutting across all major sectors/industries of the world. Cryptocurrency has the potential to turn anybody into a millionaire overnight even without prior knowledge or special technical know-how.
This past week, we saw multiple swing moves in BTC towards $11,000. The price tested the main assist region at $10,500 and commenced at an upward movement. The recovery became solid because the price moved above $10,500 which is still the highest barrier as at today.
Bitcoin will still rise regardless of the fall it experiences because it runs on law of demand and supply. More people always rush to buy the coin once the price subsides. The coin hit an all-time high and smashed the $10,000 barrier before going back below $9,000. The coin has a pendulum effect. If we are to learn from the recent bubble that occurred mid-august, There is a decrease in the price of the coin followed by a skyrocketing increase in the price of the coin. A period of drought is always accompanied by a period of abundance.
Nobody can predict exactly how the coin works, except maybe the inventor, in this case, Satoshi Nakamoto. Bitcoin is mostly based on speculation as nobody has been able to unravel the mystery behind the coin.
The coin is decentralized and is not controlled by any central currency or government. This is one of the reasons more people accepted the currency. Bitcoin is the most lucrative Cryptocurrency in the world today.
Bitcoin has caused major disruption in the financial market since its introduction into the market by Nakamoto in 2009. The price is expected to skyrocket in the future. It is presently over $10300. The need for safety and security in the online space is very paramount to a financial transaction. Bitcoin has guaranteed this over the years. Lack of governmental or bank control makes the whole process a very interesting one.
With banks and several countries looking for a way to legalize and find a way to fit bitcoin into their economy, the coin rise is imminent. The coin is a very volatile one, as experienced today.