Why is bitcoin rising | Why has bitcoin gone up so much

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January 2009 – July 2013: Bitcoin is created and attracts techies

New York(CNN Business) Bitcoin has been flirting with the $30,000 mark for weeks, and finally passed that record-setting level Saturday. The virtual currency is now valued at above $33,000, an all-time high. Bitcoin price soars to new highs We think the prospects for Bitcoin are bright. Asset managers looking for alternatives to low-yielding stocks and bonds should eventually look to crypto for returns, and Bitcoin stands to benefit. Bitcoin adoption as an asset class should get a boost from increased regulation, which would help give an “all clear” signal to asset allocators. While we don’t believe that Bitcoin’s correlation to other assets is as low as touted, we do feel that a 5 percent allocation to a portfolio should lift risk-adjusted returns over the next ten years. In our opinion, managing volatility with diversification and buying after a significant correction are the keys to successful ownership.

Bitcoin in 5 years

This op-ed was originally published by The New York Times. What’s Next for Virtual Currencies? (Cryptos, including Bitcoin, and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)

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Undoubtedly, the crypto markets appear to be recovering from the recent crash but the sentiment of “fear” continues in the crypto community. Experts strongly feel that sentiment is still mixed for the Indian crypto industry as they were too hopeful to get some respite in tax rate from the government, but the Union Budget 2023 announced on February 1, 2023, skipped any new mentions on tax relief to the sector. Why is Bitcoin booming? The futures market tells a similar story. After spiking to an all-time high of $17.4 billion in late October, open interest on Bitcoin futures contracts on the Chicago Mercantile Exchange is now about $10.6 billion — a 39% drop.

Bitcoin rise

Other institutions including PayPal Holdings Inc. PYPL, which back in November opened up its cryptocurrency platform to all U.S. customers after conducting a more narrow rollout, has helped drive bitcoin prices sharply higher in recent weeks and months. Our top crypto play isn't a token - Here’s why “Meanwhile, the bitcoin marketplace operates amid a mammoth and perilous regulatory vacuum of epic proportions with no oversight, no consumer protections, no auditing, no inspections, no examinations, no net capital requirements, no insurance, no licensure — zero, zilch, no US government supervision or surveillance of any kind. https://lnkd.in/gyW8mdAf